Market Talk / Oct. 29 - Nov. 4

[The_Technician]

Birchy, feeling sorrow for ya, I went to the grocery store and bought you a turkey....you got the paper and matches ready I hope because we gonna have'ta cook it soon....

 

[fedgolfer]

http://finance.yahoo.com/q/bc?s=^VIX&t=6m&l=on&z=m&q=l&c=

6 month chart on ^VIX... as a contrarian indicator this falling wedge looks like it could reverse in the very near future, and when it does i'm sure it won't be pretty -- adversely impacting stock indices. But the short term charts for S and I either look like double tops or rounding bottoms... probably the worse of the two if you factor in the VIX. Just food for thought.

 

[The_Technician]

I think if you ever have watched the CMT's "Trick my Truck", a quote may apply to the market at this point........"Its time to Tarrrrrre Dowwwwwn!!!!":blink:

 

[Birchtree]

Maximus,

Hey Gluteus that was an excellent read - Louis has been writing a nice letter since the 80s. I would like to see a Dow of 12,600 by the end of the year. Welcome to the game of chance and improved opportunity for a better and prosperous retirement. Snort.

 

[weatherweenie]

Looks like the selling is picking up as of 2:20pm ET.

 

[James48843]

Ooo. Down we go.

 

[fedgolfer]

... the further down we go, the louder the short term tech indicators are yelling buy for tomorrow. 20 day MAs are usually good buying ops in bull runs... maybe the last buying op before the real selling occurs.

 

[Birchtree]

That's it scare'm.

 

[nnuut]

... the further down we go, the louder the short term tech indicators are yelling buy for tomorrow. 20 day MAs are usually good buying ops in bull runs... maybe the last buying op before the real selling occurs.

Maybe you should read this first, I just did.
3 signs that a stock crash is coming

Three major indicators with strong track records are signaling it's time to sell stocks. Here's how they work and why investors should worry.

By Michael Brush
What a great time to own stocks.
The Dow Jones Industrial Average ($INDU) is setting records just about every day. The S&P 500 Index ($INX) has advanced 12% in less than five months. Technology stocks are up about 14% since midsummer.
The giddy stock bulls may be in for a nasty surprise. They're ignoring three trusty stock-market indicators -- with great records for predicting corrections -- that currently are saying it's time to get out of equities. The signals are closely watched by market technicians on the lookout for hints that the bull run is getting tired.
One of the indicators says stocks are simply expensive compared with other investment options available to big money managers. Another says that mutual fund managers have mostly exhausted the supply of dollars they have available to put into the market. And the third says that the smartest investors are now betting on a downturn. Together, these harbingers paint a far different picture of the market than do the raw return numbers.
Here's a closer look at these indicators and why you should be cautious with stocks now. (continued)
http://articles.moneycentral.msn.com/Investing/CompanyFocus/3SignsThatAStockCrashIsComing.aspx

 

[weatherweenie]

... the further down we go, the louder the short term tech indicators are yelling buy for tomorrow. 20 day MAs are usually good buying ops in bull runs... maybe the last buying op before the real selling occurs.

No guarantee that the 20 day holds.

 

[FUTURESTRADER]

That's it scare'm.

I'm scared for ya, Birchy..all those DCAs turnin red..runnin through your fingers

 

[fedgolfer]

The Bulls clubbed the Heat last night... but the Bears are undefeated this year. Too bad both can't win in the market.

 

[Birchtree]

Futurestrader,

I feel your concerned empathy. Only I red DCA so far at $15.18, the next is at $15.04, my next buy will be on 11/10. This is a healthy rolling correction - not a drill down. I'll take $15.04 one more time before the next impulse lift off but I doubt that I'll get there. No lilly pad for me this time around, yet. I just think there is so much more to this leg.

 

[ATCJeff]

Birchy, feeling sorrow for ya, I went to the grocery store and bought you a turkey....you got the paper and matches ready I hope because we gonna have'ta cook it soon....

I see were back to the doom and gloom talk.....

Whatever

 

[Spaf]

Daily Yak

The Kingdom of TSP
Daily Edition
November 1, 2006 Closing​

Yak, Doodles & Tea Leaves

Kingdom Yak:
Pro-Yak....................................The red candlesticks are not big?

Con-Yak...................................Mixed data.

Jester-Yak................................I'll go for a soft landing!

Doodles:
Socks [$SPX] Closed at..............1367.81, dn -10.13
Stops......................................Alert: 1376 (broken). Trail: 1363
Trend (MACD-Hist)....................decreasing at -2.586.
Overbought/sold (S-STO)...........[80] 59.78 [20] dropping/cooling.

Lube (NYM) Closed at.................58.71, dn -0.02
Oil Markers...............................<70= ok, 70-75= worry, >75= panic.

Tea Leaves:
Yakndoodles.............................Red.

 

[James48843]

Another big down day ahead- see this morning's foreign markets?

Nikkei, CAC, DAX, FSTE all down this morning.

Time to shift into safety.

 

[Show-me]

Looks like they are pulling back up. Could this be in anticipation of a positive day in the US? I hope so.

 

[FundSurfer]

They didn't look that bad to me and the premarket is up on good retail news. Wish I could check closer to the deadline to see what was really happening. Oh well.

 

[Show-me]

Right now the media is dissecting retail numbers. One opinion is that some of the big retailers are missing the Streets expectations and that this is a sign of a weak US consumer. Costco's overseas sales were up 11% and domestic sales only 2% going into the big retail season, they missed the Street overall expectation. This is making the market shaky.

Walmart is reporting they expect Nov. sales flat.

Productivity report in 1/2 hour.

 

[fabijo]

new jobless claims are 327,000
They were expecting about 310,000