nnuut's Account Talk

[Birchtree]

Nah, it's the record price for oil that is providing strength to the energy stocks and they are taking the market up - what a relief for the moment - I'm way deep in the energy pile.

 

[kar_crazy]

still red but not near as bad:embarrest:

 

[nnuut]

Still "G"ing it! Looks like this a logical place to have a turn around, but I'm going to wait until I actually see one. Beware, possible HEAD FAKE late in the day!

 

[kar_crazy]

Beware, possible HEAD FAKE late in the day![/quote]
i already have a head ache happy turkey day Norm

 

[nnuut]

Best to you and your Family. Oh and your KARS!!!

 

[nnuut]

S&P at 1,416.77, is this the bottom? HUUmmm?
It's not over till it's over (Casey Stingle).

 

[phillyfed]

S&P at 1,416.77, is this the bottom? HUUmmm?
It's not over till it's over (Casey Stingle).

Looking a little punch drunk now.....But you know how the story ends

 

[nnuut]

Exactly, The Rock will win, but when, 9th round 10th round, 15th round, I don't know? I'm waiting for a knockout!! Long way to the top, why not wait instead of betting on one good punch and getting knocked out in the 15th? Patience is a virtue, the Big Boys are baiting you to make more money on your losses, don't let them treat you that way. They are just driving the prices lower out of your pocket. Wait for the REAL GREEN!!

 

[nnuut]

This guy says exactly how I feel about the Market today!
http://uk.youtube.com/user/thermal1
View attachment 2646 View attachment 2647

 

[poolman]

This guy says exactly how I feel about the Market today!
http://uk.youtube.com/user/thermal1
View attachment 2646 View attachment 2647

Thanks nnuut,

Very interesting. Don't fight the tape.....

 

[nnuut]

Some believe that when everyone starts to believe that the Markets are on the way down, IT"S TIME TO BUY! I think we are really close to this!! View attachment 2651
Enough of this for today. I'm going to hit the sack and have Sweet Dreams of Turkey and Gravy!! Enjoy tomorrow!
Norman

 

[nnuut]

HAPPY THANKSGIVING, BOY that Turkey cooking smells good!

More DOOM and GLOOM
Dow got hammered at the close finishing at 12,797 and below critical support.


[FONT=Arial,Helvetica,Verdana]NEW YORK STOCK EXCHANGE ON THE EDGE[/FONT] [FONT=Verdana,Arial,Helvetica]by Greg Silberman[/FONT][FONT=verdana,arial,helvetica]blog.goldandoilstocks.comNovember 21, 2007[/FONT]

[FONT=verdana,arial,helvetica]addthis_url = location.href; addthis_title = document.title; addthis_pub = 'financialsense'; [/FONT]
[FONT=arial,helvetica,verdana]The battle for 12,850 continues! [/FONT]
[FONT=arial,helvetica,verdana]We’re writing this article on Wednesday, 21 November 2007 at 11am. By the time you’re reading this article the battle for 12,850 on the Dow might be over. Once this last line of defence gives way the levees may fall.[/FONT]
[FONT=arial,helvetica,verdana]So what’s so important about 12,850?[/FONT]
[FONT=arial,helvetica,verdana]12,850 marks the closing low on the Dow during last Augusts’ swoon. A break below this level would probably cause further selling. How much more?[/FONT]

[FONT=arial,helvetica,verdana]

[/FONT]​

[FONT=arial,helvetica,verdana]Chart 1 - Dow Monthly chart; Yen (bottom)[/FONT]
[FONT=arial,helvetica,verdana]As mentioned above, at the time of this writing the market is weak and it looks as if resistance may fall. This is not to say a White Knight won’t magically enter the picture at the close (as often happens) and save the day. But let’s assume for now that resistance does fall. Is it the end of the world?[/FONT]
[FONT=arial,helvetica,verdana]The above chart shows how influential the Yen Carry Trade has been in the stock market. The Yen (bottom) has been rallying since July and has caused all sorts of problems for the Dow. The Yen has recently burst out of a long basing pattern (green line) and has painted a target of around 100. Therefore, if the immediate past is any indication, a 10% rise in the Yen could see the Dow shave off roughly the same and fall to approximately 11,600 (which is a Fibonacci resistance level).[/FONT]
[FONT=arial,helvetica,verdana]Incidentally 11,600 is approximately the year 2000 top on the Dow. That level was breached in early 2006 and has never been retested – looks like it will now.[/FONT]
[FONT=arial,helvetica,verdana]Some Positive Signs emerging out of the Gloom:[/FONT]
[FONT=arial,helvetica,verdana]The market has been led lower by a slew of bad news from the financials. Not a day goes by where some institution isn’t disclosing the extent of their write-downs.[/FONT]
[FONT=arial,helvetica,verdana]This incessant selling has caused the banking index to already retest its 2006 breakout levels.[/FONT]

[FONT=arial,helvetica,verdana]

[/FONT]​

[FONT=arial,helvetica,verdana]Chart 2 - Banking Index retests breakout; Banking Index vs. Dow bellow[/FONT]
[FONT=arial,helvetica,verdana]Of interest is the relative weakness in Banks vs. the Dow (bottom). The ratio is approaching stiff multi year resistance and is likely to be repelled lower, indicating in both relative and absolute terms that the fall in the Banking index may be close to over. That would be good for the overall market as banks have been the epicentre of economic woes.[/FONT]
[FONT=arial,helvetica,verdana]What’s the Fed’s response?[/FONT]
[FONT=arial,helvetica,verdana]Will the Fed allow the markets to deflate without a fight?[/FONT]
[FONT=arial,helvetica,verdana]Based on their recent propensity to reduce interest rates we’d have to say a loud No![/FONT]
[FONT=arial,helvetica,verdana]Thus we have to conclude, whether successful or not, the Fed will go on an all out offensive and print money till the Cows come home. Long-term this can only benefit Gold and Commodity investments.[/FONT]
[FONT=arial,helvetica,verdana]NEWSFLASH: Dow got hammered at the close finishing at 12,797 and below critical support. Looks like its time for those 100 Dollar Bill drops Mr. Bernanke[/FONT]

[FONT=Arial,Helvetica,Verdana]

[/FONT]​

[FONT=Arial,Helvetica,Verdana]© 2007[/FONT] [FONT=arial,helvetica,verdana]Greg Silberman, CA (SA), CFA Retired[/FONT]
[FONT=arial,helvetica,verdana]Editorial Archive[/FONT]

http://www.[[financialsense.com/fsu/editorials/silberman/2007/1121.html

 

[airlift]

Thanks for this article Nnuut! Seems we are almost there.

 

[nnuut]

Thanks for this article Nnuut! Seems we are almost there.

Looks like we're right on top of it? I'll wait and make sure. I never want to see another TURKEY again!! BURRRP!!

 

[Birchtree]

I could actually use one more down day tomorrow for several uninteresting reasons - but it'll probably rally.

 

[nnuut]

Half a day tomorrow so it better be quick!

 

[nnuut]

Not much confidence here that this Black Friday rally will continue Monday. Hope this is the turn around, but I'll wait for confirmation.
Looking forward to the "G" Penny!
View attachment 2657

 

[FogSailing]

Nnut...Your morning post indicates oil is down..but I'm reading it is going up today...have you heard anything recently to confirm your prices down post?

Thanks...

FS

 

[FogSailing]

Oil Rises Above $97 as Dollar, OPEC Supplies Weigh
Topics:Economy (U.S.) | Economy (Global) | Energy | Commodities
Sectors:Oil and Gas By Reuters | 23 Nov 2007 | 10:04 AM ET Font size:

This is the headline fron CNBC..

FS

 

[nnuut]

Nnut...Your morning post indicates oil is down..but I'm reading it is going up today...have you heard anything recently to confirm your prices down post?

Thanks...

FS

Oil Rises Above $97 as Dollar, OPEC Supplies Weigh
Topics:Economy (U.S.) | Economy (Global) | Energy | Commodities
Sectors:Oil and Gas By Reuters | 23 Nov 2007 | 10:04 AM ET Font size:

This is the headline fron CNBC..

FS

Yeah dropped a little this morning and rebounded above $97. See Oil Slick Stuff Home Page!! BBBBEEELLOOOOoowwww!