This Week in Stocks: 6/18 - 6/22/07

[tsptalk]

Cramer must be reading my comments again. Today I talked about a rate cut as a possibilty next week.
http://www.tsptalk.com/comments_archive/comments_6_19_07.html

Cramer agrees...

Put a Fed Cut Back on the Table

By Jim Cramer
RealMoney.com Columnist
6/19/2007 11:15 AM EDT

It's a pay site so I can't copy the article but he's talking about the poor housing, retail and auto sales as the catalyst, where I'm just looking at the 90-day T-Bill vs. the Fed Funds rate.

 

[tsptalk]

Big bounce hit the market the last hour. News? That run up was a test of yesterday's highs and it has failed so far. I'd be surprised if the indices hold here and finish positive today. Looking for a weak afternoon.

 

[tsptalk]

Well, we went red but here comes some late buying. Still - lower low and lower high on the day.

 

[tsptalk]

Here comes the last hour of trading.... the Dow's currently up 42 (13,530). Let's see what the smart money does.

 

[Birchtree]

Will tomorrow be Friday #14 for a continuation of the up moves on Fridays?

 

[tsptalk]

It looks like investors are expecting it. Late money didn't do any selling.

 

[tsptalk]

The interesting thing is that interest rates jumped again today (actually all but the 90-day yield). That was supposed to be the big reason for the selling Wednesday. Today no one cared?

 

[FUTURESTRADER]

BX 37.09 x 40.00, where's 'the moonshot'...not IPOs of late 90's

 

[fedgolfer]

BX 37.09 x 40.00, where's 'the moonshot'...not IPOs of late 90's

Yup, definitely not. All that CNBC talk of "smart guys selling" must have wised up/scared off the pumpers. imo, after seeing the market digest FIG's IPO and settle on a reasonable PE in relation to GS, plus all that Schwartzman/private equity talk is making the retail buyers skiddish. I'm kinda suprised small caps aren't doing better today... day is still young and i'm sure the real action will be in the afternoon.

 

[fedgolfer]

BX 37.09 x 40.00, where's 'the moonshot'...not IPOs of late 90's

Futures, if you bought some please keep us up to date on your play. Long, swing trade, or sell at a specific % or tech indicator, etc. I bought some GS earlier this month and held it for a few days... sold for a quick gain... kinda wish I held it longer.

On a sidenote, I'm restriced for a while for accidentally doing some freeriding... ARGGGGH!!!!! Should have margin enabled her account to make up for any bad math and my inability to count the proper settlement date... fortunately can still buy/exchange Vanguard funds in that account while under restriction in the brokerage account. If anyone has tips on moving Vanguard funds, please share.

 

[FUTURESTRADER]

No, fed, I didn't play it. In the late 90's, I had about 20 accounts across Etrade, FBR, Fidelity, Morgan Stanley, and a few now defunct or bought out brokerages, all to acquire 'allotments' of IPO shares before they went public, usually, about a week later. The 'indicator' I used was if the price range of the offering increased leading up to pricing, then it was almost assured a nice pop over the open/pricing. BX priced at the high end of it's original range, which is ok, but it never increased amount of shares or price range. No irrational exhuberance.

 

[USNAVYRETIRED]

Will tomorrow be Friday #14 for a continuation of the up moves on Fridays?

Birch... I hope you're right about today being #14, but it doesn't look good now. Hoping we get a bounce this afternoon. Have my fingers crossed!!!

 

[James48843]

Well Tom, I see you finally took a plunge.

Good luck.

Hope you don't really take a plunge.

 

[Warrenlm]

At least it looks like a big dip. Hopefully not a slope.

 

[Spaf]

This market is like a roller-coaster!........:notrust:

 

[tsptalk]

Hope you don't really take a plunge.

If this sell-off holds, I can't say I'm not a little worried about Monday morning!

 

[tsptalk]

These bounces aren't lasting very long. 13,380 keeps getting tested on the Dow. How many times can it hold? Prior lows, 13,250 - 13,300, may need to get hit.

 

[tsptalk]

Testing 13,380 again... seeing 13,370 now... it's trying to hang in there... 20 minutes to go. 13,365...