Oil erased multimonth gains in just a couple of days. What's next?
Investors....come in please!
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Originally Posted By: friendly_jacek
What's next?
That's kinda what I was going to say.
So, now what? Nothing much to buy as far as I'm concerned.
New Unemployment clains come out today. "New". We're around 15% unemployed now as lots of people just quit looking.
What's next?
That's kinda what I was going to say.
So, now what? Nothing much to buy as far as I'm concerned.
New Unemployment clains come out today. "New". We're around 15% unemployed now as lots of people just quit looking.
Well, my point is while investors were still drunk and dancing on 09/14/12, no one paid attention to this figure: US Industrial Production fell sharply in August: http://www.haver.com/comment/comment.html?c=120914d.html
Now, the markets need to discount the coming recession.
Now, the markets need to discount the coming recession.
Originally Posted By: friendly_jacek
Oil erased multimonth gains in just a couple of days. What's next?
The market has been on fire since June. Some profit taking is to be expected. As far as the SP500, it's been in a channel since June and hit the top of the channel last Friday and reversed. I'm actually surprised a broader sell off hasn't occurred yet; we may be starting that and heading back to the bottom channel line where buyers who've missed this rally should step in around the 1438 level. If it breaks the channel, a correction would probably occur back to the 1350 levels where the trendline from the start of the bull market in 2009 resides. That should be solid support. If/when that one breaks, it's the end of the bull market from 2009. That's how I see the broader market currently.
Oil erased multimonth gains in just a couple of days. What's next?
The market has been on fire since June. Some profit taking is to be expected. As far as the SP500, it's been in a channel since June and hit the top of the channel last Friday and reversed. I'm actually surprised a broader sell off hasn't occurred yet; we may be starting that and heading back to the bottom channel line where buyers who've missed this rally should step in around the 1438 level. If it breaks the channel, a correction would probably occur back to the 1350 levels where the trendline from the start of the bull market in 2009 resides. That should be solid support. If/when that one breaks, it's the end of the bull market from 2009. That's how I see the broader market currently.
TLT (long term treasuries/the safety gauge) broke it's support trend line from early 2011 on the Fed QE infinity news, came back today to test that trendline as resistance, and it's breaking back down.
Good take on TA and I agree.
I'm coming from macroeconomics and I don't see how US can decouple from Europe/Asia's malaise, the same way they didn't decouple from us in 2007-2008.
But, I don't think this is the top and topping can take a while.
I'm coming from macroeconomics and I don't see how US can decouple from Europe/Asia's malaise, the same way they didn't decouple from us in 2007-2008.
But, I don't think this is the top and topping can take a while.
Originally Posted By: friendly_jacek
I'm coming from macroeconomics and I don't see how US can decouple from Europe/Asia's malaise, the same way they didn't decouple from us in 2007-2008.
Oh, I agree completely. I'm fully aware that this years rally, at least if we go much higher from here, is pure fantasy, at least from a fundamental perspective! But I don't get do dictate what the market does. In fact, I don't even follow financial news to try and figure out what the heck is going on anymore! (although I don't normally trade individual stocks). I just follow price action at this point.
I'm coming from macroeconomics and I don't see how US can decouple from Europe/Asia's malaise, the same way they didn't decouple from us in 2007-2008.
Oh, I agree completely. I'm fully aware that this years rally, at least if we go much higher from here, is pure fantasy, at least from a fundamental perspective! But I don't get do dictate what the market does. In fact, I don't even follow financial news to try and figure out what the heck is going on anymore! (although I don't normally trade individual stocks). I just follow price action at this point.
JHZR2
Staff member
Originally Posted By: friendly_jacek
Good take on TA and I agree.
I'm coming from macroeconomics and I don't see how US can decouple from Europe/Asia's malaise, the same way they didn't decouple from us in 2007-2008.
But, I don't think this is the top and topping can take a while.
I'd agree. Im looking to unload a bunch of CIM to take a big gain (hopefully after the ex-div to grab that) and then Im really pretty defensive. I think there is time...
Good take on TA and I agree.
I'm coming from macroeconomics and I don't see how US can decouple from Europe/Asia's malaise, the same way they didn't decouple from us in 2007-2008.
But, I don't think this is the top and topping can take a while.
I'd agree. Im looking to unload a bunch of CIM to take a big gain (hopefully after the ex-div to grab that) and then Im really pretty defensive. I think there is time...
JHZR2
Staff member
Originally Posted By: Drew99GT
I just follow price action at this point.
Agree. Tons of info in those little details...
I just follow price action at this point.
Agree. Tons of info in those little details...
Sold ONTY and SGMO for huge gains.
Originally Posted By: Pablo
Sold ONTY and SGMO for huge gains.
Sweeeet! We all love huge gains...
I'm still in the buying mood, but stocks had such a run-up, I guess I'll wait.
Some short term gainers I have that'll probably be held for life:
- LINE up 16%
- PG up 10%
- CAT up 13%
- BPT up 6%
+ Dividends!
Sold ONTY and SGMO for huge gains.
Sweeeet! We all love huge gains...
I'm still in the buying mood, but stocks had such a run-up, I guess I'll wait.
Some short term gainers I have that'll probably be held for life:
- LINE up 16%
- PG up 10%
- CAT up 13%
- BPT up 6%
+ Dividends!
Originally Posted By: tpitcher
Sweeeet! We all love huge gains...
I need to grow some 'nads and take some huge positions in these big gainers. Then we would have something. Or not.
Sweeeet! We all love huge gains...
I need to grow some 'nads and take some huge positions in these big gainers. Then we would have something. Or not.
I got stopped out of pretty much all of my "trades" this morning. Out of NUGT for a healthy gain (held from 13.95 to 18.10), out of SLV for a loss, out of EWI and EWP for small gains, and out of GDXJ for a decent gain. Oh well. I knew I was screwed in SLV; got in too late after the 25% up move. Me selling will surely mean a 3% rally in everything tomorrow.
Still hanging on to my longer term index ETFs SPY and IWM, but both are starting to roll over on the weekly moving average based technical indicators. The Euro sell off needs to stop for US stuff to continue rallying.
Still hanging on to my longer term index ETFs SPY and IWM, but both are starting to roll over on the weekly moving average based technical indicators. The Euro sell off needs to stop for US stuff to continue rallying.
Originally Posted By: tpitcher
.
THEN, I saw PPHM down 78%! There was something alluring about a stock
being down 78% (ie, REBOUND BABY!), so I bought several hundred shares.
Dude. That's like a $1.16 stock. And I don't think it's just overlooked.
http://articles.marketwatch.com/2012-09-...ell-lung-cancer
http://ir.peregrineinc.com/releasedetail.cfm?ReleaseID=708954
So how long before the turn around? Tell me their inside story. So many small no profit cancer drug companies.
.
THEN, I saw PPHM down 78%! There was something alluring about a stock
being down 78% (ie, REBOUND BABY!), so I bought several hundred shares.
Dude. That's like a $1.16 stock. And I don't think it's just overlooked.
http://articles.marketwatch.com/2012-09-...ell-lung-cancer
http://ir.peregrineinc.com/releasedetail.cfm?ReleaseID=708954
So how long before the turn around? Tell me their inside story. So many small no profit cancer drug companies.
Originally Posted By: Pablo
Originally Posted By: tpitcher
.
THEN, I saw PPHM down 78%! There was something alluring about a stock
being down 78% (ie, REBOUND BABY!), so I bought several hundred shares.
Dude. That's like a $1.16 stock. And I don't think it's just overlooked.
http://articles.marketwatch.com/2012-09-...ell-lung-cancer
http://ir.peregrineinc.com/releasedetail.cfm?ReleaseID=708954
So how long before the turn around? Tell me their inside story. So many small no profit cancer drug companies.
SOLD! ...this morning for a 24% gain.
Originally Posted By: tpitcher
.
THEN, I saw PPHM down 78%! There was something alluring about a stock
being down 78% (ie, REBOUND BABY!), so I bought several hundred shares.
Dude. That's like a $1.16 stock. And I don't think it's just overlooked.
http://articles.marketwatch.com/2012-09-...ell-lung-cancer
http://ir.peregrineinc.com/releasedetail.cfm?ReleaseID=708954
So how long before the turn around? Tell me their inside story. So many small no profit cancer drug companies.
SOLD! ...this morning for a 24% gain.
How many shares? I only bought 3000 shares. But it's already up 20%!!
I also bought 500 of NCT. It's off a bit.
tp - you not working anymore?
I'm off today.
I also bought 500 of NCT. It's off a bit.
tp - you not working anymore?
I'm off today.
Originally Posted By: Pablo
How many shares? I only bought 3000 shares. But it's already up 20%!!
I also bought 500 of NCT. It's off a bit.
tp - you not working anymore?
I'm off today.
Oh yea, just on break.
Bought 700 shares. It was just for a rebound trade...
How many shares? I only bought 3000 shares. But it's already up 20%!!
I also bought 500 of NCT. It's off a bit.
tp - you not working anymore?
I'm off today.
Oh yea, just on break.
Bought 700 shares. It was just for a rebound trade...
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