Market Talk / May 7 - 13

[James48843]

...global economy will suffer......as I mentioned the other day, the Chinese Yuan will drop value also which will cool off the Chinese economy a bit.....:worried:

Chinese Yuan will not fall. The Communist government is keeping it from moving by market forces. They are making way too much money to allow free market forces to affect it. Soon they will be so rich and powerful, they will control the world. What couldn't be won by force will be won by economic devastation of the west, through cheap prices at Wal-mart, and our nation owing everything to them.

Smart people, those Chinese.

 

[Wizard]

Smart people, those Chinese.

Actually the real superpower of the world now. :embarrest:

 

[Wizard]

Here comes the bounce I talked about yesterday.

Like a bad Karate Movie.

Went long at the open based on the "stellar" trade balance report.

Looking to scalp out. I got to travel today.

 

[James48843]

Wizard- I think you may be on the money here. That trade report is MUCH better than expected....

"WASHINGTON (Reuters) - The U.S. trade deficit narrowed unexpectedly in March to $62.0 billion and hit its lowest level in more than half a year, as U.S. exports - including to China - climbed to new highs, the U.S. Commerce Department said on Friday."


What that says is that our taste for China goods slackened just a touch, and our exports increased better than expected. If we can just get them to buy a whole lot of Boeings (pretty heafty prices, you know. Boeing annouced a 4% price increase yesterday), then our economy will be better off.

I may jump back into "I" fund today- I'm going to wait till noon and see where we are first.

 

[Wizard]

Out with a small gain. Not a good sign. Massive selling into rallies. Very bearish.

Have a great week all!

 

[Wizard]

Wizard- I think you may be on the money here.

All rallies are being sold into. This is dangerous to try to pick a bottom to buy lower. Out the door to the airport to be probed and frisked.

 

[The_Technician]

not a good day today....

http://money.cnn.com/2006/05/12/markets/markets_newyork/index.htm

 

[Spartan]

not a good day today....

http://money.cnn.com/2006/05/12/markets/markets_newyork/index.htm

This is a GREAT DAY!

Dollar on the downside and continued drizzle, GREAT DAY to pick up some more stocks!

Cheers mates!

 

[TiCKed]

This is a GREAT DAY!

Dollar on the downside and continued drizzle, GREAT DAY to pick up some more stocks!

Cheers mates!

And let's get some perspective people!!

Pure guesses, but at the end of the day....
G will be at 11.35
F will be above 10.54 (?)
C will be above 14.00
S will be above 17.50
I will be above 20.50

Now look at 31 Dec 2006:
G=11.16
F=10.67
C=13.55
S=16.27
I=17.59

It ain't real money until you cash out!! Enjoy the ride.

 

[Wizard]

And let's get some perspective people!!

It ain't real money until you cash out!! Enjoy the ride.

What ride? The indexes are the same place they were in 1998?

That is going on 9 years now. :blink:

 

[Rod]

This is a GREAT DAY!

Dollar on the downside and continued drizzle, GREAT DAY to pick up some more stocks!

Cheers mates!

AMEN

I've been lying in wait two months for these past couple days.

 

[tsptalk]

Joe and Jane Sixpack will read their Sunday paper this weekend and get a bit nervous. That could trigger a bit more early selling Monday. But that nervous sentiment could also set up an options expiration week rebound as we have been seeing every month lately. Then the following week, the weakness could resume.

Just a thought.
Tom

 

[Wizard]

Joe and Jane Sixpack will read their Sunday paper this weekend and get a bit nervous. That could trigger a bit more early selling Monday.

Black Monday scenario? :embarrest:

Worst crashes have happened on Monday. :worried:

The 2.1% import price report today is going to KILL the PPI report on Tuesday.

An individual investor who understands the process of inflation and how inflation influences the markets will no doubt benefit over those investors that don't understand the consequences of inflation.

Got Gold?

 

[TiCKed]

What ride? The indexes are the same place they were in 1998?

That is going on 9 years now. :blink:

Perspective! By your view, why are we getting so excited about GOLD?? It's still below it's high in 1980!!

 

[Wizard]

At least gold is only 19% away - and up 72% in one year.

The Naztrash is still 2,888 points away from just being EVEN and at year 2024 it will still be underwater.

 

[Cortez]

Perspective! By your view, why are we getting so excited about GOLD?? It's still below it's high in 1980!!

It only goes to show that market timing really does matter. Buy into weakness and sell into strength. Going long for 30 years will hardly beat the long term inflation rate.

This market appears REALLY weak. The 2 o'clock rally got SLAMMED by the close. Look at a chart of IWM - it finished the day at the intraday LOW. The uptrend since OCT is clearly busted in the Russell. QQQQs fared no better. Uptrend is broken and if it cannot hold 40.00 monday we are heading south for a healthy pullback. SPY is at its uptrend line but it is holding as of Friday's close. DIA is the healthiest of the majors with a close in the middle of the uptrend channel. The weakness in tech is a strong negative as they tend to lead the markets on the way up and on the way down.

Current Holdings:
TSP 100%G
Roth IRA: Jun SPY 129 Puts, Jul AAPL 65 Puts, Sep IYR 70 Puts
Trading Acct: Oct BEN 95 Puts, Aug CHRW 45 Puts, Jun DIA 111 Puts, Jul SNDK 55 and 57.5 Puts
Going to close out positions or put on tight stops on Monday since I'll be in Vega$ the remainder of the week. My profits today paid for the trip alone. Knowing my luck Monday will gap up on the open and run 200 points on the DOW. Hopefully, it's a beautiful Black Monday.

 

[Rod]

Got Gold?

No, but I have about 4 oz of platinum which has jumped nearly $250 per oz since Feb.

 

[Wizard]

Going to close out positions or put on tight stops on Monday since I'll be in Vega$ the remainder of the week.

Small world? I flew all day and am sitting in Las Vegas right now. Are you here for the Money Show?

I am positioned for a Monday AM downer. :nuts:

 

[James48843]

It only goes to show that market timing really does matter. Buy into weakness and sell into strength. ,,,Hopefully, it's a beautiful Black Monday.

Amen to that.

Beautiful downstroke today- just beginning.

"C" Fund 14.11 (down .16 cents)

"S" Fund 17.59 (down .31 cents)

"I" Fund 20.54 (down .29 cents)

Can you believe that we are now about the same price as it was just...

"I" fund- six trading days ago.

"C" fund- 19 trading days ago.

"S" Fund- 19 trading days ago.
-----------------

Just 18 tradng days ago we were delighted with those values. Yet everybody here seems to think the sky is falling.

Nope. Just taking a breather, that's all.

Hope it tanks some more so I can get more bargains.

Sitting 95% in "G" at the moment, and loving it...

 

[Wizard]

Can you believe that we are now about the same price as it was just...

"I" fund- six trading days ago.

"C" fund- 19 trading days ago.

"S" Fund- 19 trading days ago.

Yeah, just goes to show the market is fair. It gives you a chance to get out. :embarrest:

Don't worry. It will come back, right? I heard that in 2000 and watched my retired friends have to go back to work because they got crushed. :blink: