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So has this week been just a typical pre-holiday reversal week? We see it often... The week leading up to a holiday goes against the prevailing trend, but that trend resumes after the holiday. It's an Oscarism.
 
tsptalk said:
So has this week been just a typical pre-holiday reversal week? We see it often... The week leading up to a holiday goes against the prevailing trend, but that trend resumes after the holiday. It's an Oscarism.
Click to expand...

I think so. Profit taking ahead of the holiday. Overbought indicators have dipped quite a bit so we could bounce. I've been expecting a day or 2 pullback anytime and we got it. We're ready for another leg up imo.
 
20130529.gif

Chart of the Day - The Dow is 3% off all-time highs
 
bmneveu said:
The Nikkei is having another one of those nights... down 5%
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Looks like the last few days have been the proverbial dead cat bounce.

Update: I just heard their futures have bounced back after the close gaining back most of that 700-point loss. There was some news. I wonder how the I-fund will handle that today?
 
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Would that be like us being able to invest our social security money in the stock market, or is it more like a employment pension plan? I didn't catch that.
 
Looking back at the first trading day in June over recent years shows some big moves in both directions. It tells me that Monday may not be a quiet day.

2012: -275
2011: -279
2010: -112
2009: +221
2008: -135
 
Hint:

The next "big thing":

Seattle Entrepreneur Plans $100 Million National Chain of Pot Stores

Source: The Stranger

Jamen Shively, CEO of Seattle-based Diego Pellicer, announced plans this afternoon to invest $100 million over the next three years in the burgeoning "social marijuana" market with a national chain of marijuana stores. In doing so, the former Microsoft manager is not only taking a page from the Howard Shultz playbook for building Starbucks, he's also testing the Obama administration's tolerance for flouting federal drug prohibition.

"Yes, we are Big Marijuana," Shively, 45, said unabashedly about ambitions to "be the most recognized brand in an industry that does not exist yet." And in doing so, politically, Shively would also create the first consolidated economic engine that advocates for legalization.

At a press conference in downtown's tallest skyscraper, Shively said he and business partners will begin in Washington State and Colorado, where rules for legal pot come online this year, and wait as voters pick off prohibition across the country. Flanked by lawyers, a state lawmaker, and former Mexico president Vicente Fox, Shively said he is a "couple weeks" from an initial $10 million milestone, and within three years, he fully expects to open—some medical marijuana and some recreational marijuana—a dozen branded stores in Washington State, another dozen stores in Colorado, and as many as hundreds in California (a state where only medical marijuana is currently legal but where voters are widely expected to legalize recreational pot in 2016).

... Keeping his headquarters in Seattle, near Green Lake, Shively says that means employing about 1,000 people locally and 10,000 people nationwide. And sounding like Big Hamburger, Shively says he predicted "tens of millions" of customers will be served.
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Sounds like an interesting investment.


Read more: Seattle Entrepreneur Plans $100 Million National Chain of Pot Stores | Slog
 
tsptalk said:
Looking back at the first trading day in June over recent years shows some big moves in both directions. It tells me that Monday may not be a quiet day.

2012: -275
2011: -279
2010: -112
2009: +221
2008: -135
Click to expand...
I'm going with 2009.
 
tsptalk said:
Looking back at the first trading day in June over recent years shows some big moves in both directions. It tells me that Monday may not be a quiet day.

2012: -275
2011: -279
2010: -112
2009: +221
2008: -135
Click to expand...
Doing a little dumpster diving. I'm getting out 25% for Monday's fizzle. Why a fiz? Because the markets are doing so well today. I thought earlier that Monday would do ok, like 2009, because today's futures stank. Well was I wrong. Today's making me some monaaay. Don't worry folks, I'm getting right back in for Tuesday and beyond.
 
Tuesday has been up for like 20+ weeks in a row or something crazy now. I wonder what tomorrow will bring!
 
tsptalk said:
Looking back at the first trading day in June over recent years shows some big moves in both directions. It tells me that Monday may not be a quiet day.

2012: -275
2011: -279
2010: -112
2009: +221
2008: -135
Click to expand...
Friday's 200+ point loss took a little steam out of this trend, but we may still see a triple digit move in the Dow with it up 90 with 30 minutes to go.
 
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