Market Talk

[robo]

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Skip wrote,

Wonder who else is going to follow suit with more sells ?

I think we will seemore big moneytaking profits on big winners and getting ready for this buying op you mentioned. Lots of stocks and the market is looking pretty cheap here...... I'mwith you on the C Fund, might need some more downside to get us going! The big money has to be getting close to putting money to work. Returns is the key to bonuses on Wall Street, and the big money does not want to miss this rally when it comes. The I Fund is sure to sell off now, because I made a move today.... I know how Tom feels on that darn I Fund, but I couldn't pass it up with the USD at 90.10.... I know some here don't like Bob Brinker, but in his news letter he recommened buying the S&P under 1180. Under 1180 is good value on the S&P if you don't like to make excessive moves... I still think we break thru 1245 and make new highs this quarter.

 

[Skip]

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We still have alot of the sp500 reporting earning this week some will make it some won't.
Trading range is 1177.8 to the 1191 if sp500 goes above 1200 we got a tradable
move here... if not keep your power dry... traders and funds will try to move the market
nov dec to the up side.... if we get a break below 1177 if might be this week if not I think the worst will be over as 25% of the sp is reporting this week.... inflation is the
killer here...

Skip

 

[Spaf]

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Skip wrote:

We still have alot of the sp500 reporting earning this week some will make it some won't.
if we get a break below 1177 if might be this week if not I think the worst will be over as 25% of the sp is reporting this week.... inflation is the killer here...

Skip

The worst will be over!

?

 

[vectorman]

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pre-market for wednesday, another rough day for the I fund.

http://money.cnn.com/data/premarket/

dollar- http://www.cnbceurope.com/markets/index.php?page=WWW-FX-out.xml

overseas- http://www.allstocks.com/markets/World_Charts/world_charts.html

http://finance.yahoo.com/q?s=%5EN300

 

[robo]

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Some comments from a Tech:

I called for a pullback and another test of the S&P 500 support/resistance band between 1190 and 1194.90. Well, we got the pullback, now let's see if we can climb back above the band. It is good that we stopped above Thursday's low, but notso goodthat we closed below the uptrend line.

The Dow did better in that regard when it managed to stop above its uptrend line.

Ouch on the I Fund... I'm feeling the pain!

 

[The_Technician]

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Robo...I'm not so sure the I fund is going to continue down.(or else I wouldn't be in it)...its due for a short turn around even though its on a longer period down trend....but its all speculation on my part being in it.......

We are both in the same boat....along with MM and some others...

:^

 

[robo]

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Technician,

We need some help from the dollar! Currently down around -0.17......

 

[The_Technician]

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I'm getting the Euro/$ exchange at 1.199....thats up from 1.1967...and thats good....

:dude:

 

[cowboy]

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Yes the dollar has weakened some guys! But???? The England market is going to drag it down some more and also maybe the Japan will today. I wouldn't just yet get ready to pull any triggers until maybe tomorrow or Friday if your playing short term. :^

 

[mlk_man]

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cowboy wrote:

Yes the dollar has weakened some guys! But???? The England market is going to drag it down some more and also maybe the Japan will today. I wouldn't just yet get ready to pull any triggers until maybe tomorrow or Friday if your playing short term. :^

Do as I say not as I do, eh cowpoke?

 

[cowboy]

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mlk_man wrote:

cowboy wrote:

Yes the dollar has weakened some guys! But???? The England market is going to drag it down some more and also maybe the Japan will today. I wouldn't just yet get ready to pull any triggers until maybe tomorrow or Friday if your playing short term. :^

Do as I say not as I do, eh cowpoke?

How true MM! There is no gain without pain in accordance to Birchtree. Those who want to beat the market must play the market otherwise they are left to the G fund. Wilma has got the eastern and southern US investor scared like a jackrabbit right now, so I think we will see something here real quick. Timing it is another story yet to be told.

 

[Spaf]

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This is where things don't make much sense to me. This is some of the market talk as of noon October 19th

:{





Inflation, rate worries burden stocks

Oil prices fall on supply data; Yahoo gains after results

By Mark Cotton,MarketWatch


NEW YORK (MarketWatch) -- U.S. stocks traded mostly lower Wednesday as inflation and interest-rate worries outweighed a slew of upbeat earnings reports from J.P. Morgan Chase, Altria Group, Motorola and others.


The Dow Jones Industrial Average [$INDU] made forays into positive territory, but had been down as much as 52 points at a session low of 10,232.98.


The Nasdaq Composite Index [$COMPQ] was lower, but off its worst level of the session at 2,042.03.


The S&P 500 Index [$SPX] also saw a modest pullback.


On the broader market for equities, decliners outpaced advancers by a two to one margin on both the New York Stock Exchange and on the Nasdaq.


"The oil supply numbers weren't as bad as some people had feared and it was enough to turn the market around especially coming after yesterday's heavy sell-off," said Barry Ritholtz, chief market strategist at Maxim Group, refering to a brief rebound in stocks after oil prices fell on a bigger-than-expected buildup reported in weekly U.S. crude supplies.


But the market remains essentially directionless, said Ritholz, as investors seek to gauge where the inflationary pressures lie in the economy and what this means for interest rates.


Volume was 787 million on the Big Board and 770 million on the Nasdaq.


Crude pulls back sharply on supply data


Crude futures fell after supply data showing a bigger-than-expected build in U.S. petroleum stockpiles.


The Energy Department said crude inventories rose 5.6 million barrels for the week ended Oct. 14 to total 312 million. Motor gasoline stocks were also up, rising 2.9 million barrels to stand at 195.7 million barrels.


However, distillate supplies, which include winter heating oil, fell 1.9 million barrels to 122.7 million barrels. Separtately, the American Petroleum Institute reported an even bigger increase in crude stocks.


Meanwhile, there was some good news on the economic front.


Later in the session, investors get a snapshot on current business conditions in the U.S. with the release of the Federal Reserve's Beige Book. In addition, four Fed members are set to speak.


:}

The facts seem to say that there is good economic news. There was a bunch of upbeat earnings report. Crude inventories are up and the price for oil is below $64.
However, the market is directionless? :%

:' Whats with the [ excessive] worries over inflation and rates? Yes, there will be inflation, and yes the Cartel will probably raise rates another quarter.

I think it's a hype thing, too many sour grapes!

Rgds :x Spaf

 

[cowboy]

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Thats just what it is Spaf is talk! Talk is cheap, it takes money to buy the whiskey! Unless someone can talk you out of your whiskey money.

 

[mlk_man]

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Any chance we'll get one of those "outta no where" corrections in the I fund and it'll end up .5% today? :?

 

[cowboy]

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I doubt it MM! I have the I fund begged down big today again but the sneaky dollar is negative today so that may help some, which may help us tomorrow and maybe we will have a big bounce in the Euro markets.

 

[smine]

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We're counting on it, CB.

 

[cowboy]

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The MSCI pegged the I fund down -1.15% today. This means it would be at approximately $16.02. I do believe we may see a very nice bounce now with the US markets rebounding like they did today! Will it happen tomorrow only time can tell!

 

[JOVARN]

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Its 1556 and the S&P is up 17 pct Oh well, a day late and many dollars short.

I still caught 40% of the Bounce could have been worse.

 

[cowboy]

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Hi Jovarn! There is a reason I did not play C or S today! One is I noticed the fluctation also but that it went from negative to positive then negative then positive then negative about the time you looked at it. These were not small swings and this was why I said the US markets were moving today. Now it looks like a smart move would have been to be C & S yesterday but it could just as easily drop backdown as it went up, kind of like a cat playing with a mouse. I do think that the I is going to be very positive tomorrow as the whole world looks at the US markets on the otherside of the world and hopefully the dollar keeps sliding and pow right in the kisser. I am hoping to be eating green apple pie tomorrow in the I fund!

 

[FundSurfer]

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Cowboy, didn't you bail out of I to F today? Might have turned out to be a good move if it goes back down tommorrow.