This morning's sell-off was 'just what the market ordered.' A necessary precondition (or necessary evil), if you will. The momentary dive off the cliff before the glider lifts.
Taking bets on next week's highs. DJIA 11500. SPX 1225. BAC 12.85. CSCO 20+. MSFT 27+. INTC 22. Rocket.
I'm exhausted right now. Late to bed last night, early to rise this morning as usual.
ReplyDeleteI'll have to defer chatting until tomorrow.
ReplyDeleteuh oh, i'm butting heads with 2nd on my outlook. there probably is a strong possibility we drift higher next week given low volume tends to result in higher drifts...we've seen it before. i suppose i should have waited another week to enter TZA.
ReplyDeleteHi vb, you know how far away I am but I'll definitely give a shout next time I'm out west.
ReplyDeletebad day for me. did fine on DGP, but tried TZA and was stopped out pretty much at bottoms twice
ReplyDeleteWatched Landry's chart show last night.
ReplyDeleteHad a few set-ups from the show and did well.
F
URRE
URZ
Also had some RBY that did alright.
No need to know the future, just use the persistent pullbacks, wait for trend to resume, enter, set stops and wait. So far so good.
FF
Hi 2nd
ReplyDeleteHere's a song to get you going this AM
http://tinyurl.com/256x32b
PS Fresh powder in Tahoe last night
Here's why I remain convinced that select commodities remain the most advantageous place to be, and that rising prices shouldn't simply be blamed upon the FED, which is in my view a simplistic copout for an inability to think past one's nose or perhaps unwillingness to share knowledge, both of which I refuse to respect. Sorry, but right or wrong this perspective is just my nature, a perspective deeply ingrained by my life experiences:
ReplyDelete"For many commentators, the resumption of quantitative easing by the Federal Reserve has appeared to spark a currency war between the U.S. and China. If the "Chinese don't take actions" to end the manipulation of their currency, President Obama declared in New York in September, "we have other means of protecting U.S. interests." The Chinese premier Wen Jiabao was quick to respond: "Do not work to pressure us on the renminbi rate…. Many of our exporting companies would have to close down, migrant workers would have to return to their villages. If China saw social and economic turbulence, then it would be a disaster for the world."
Such exchanges are a form of pi ying xi, China's traditional shadow puppet theater. In reality, today's currency war is between "Chimerica"—as I've called the united economies of China and America—and the rest of the world. If the U.S. prints money while China effectively still pegs its currency to the dollar, both parties benefit. The losers are countries like Indonesia and Brazil, whose real trade-weighted exchange rates have appreciated since January 2008 by 18% and 17%, respectively.
But who now gains more from this partnership? With China's output currently 20% above its pre-crisis level and that of the U.S. still 2% below, the answer seems clear. American policy-makers may utter the mantra that "they need us as much as we need them" and refer ominously to Lawrence Summers's famous phrase about "mutually assured financial destruction." But the Chinese already have a plan to reduce their dependence on dollar reserve accumulation and subsidized exports. It is a strategy not so much for world domination on the model of Western imperialism as for reestablishing China as the Middle Kingdom—the dominant tributary state in the Asia-Pacific region.
If I had to summarize China's new grand strategy, I would do it, Chinese-style, as the Four "Mores": Consume more, import more, invest abroad more and innovate more. In each case, a change of economic strategy pays a handsome geopolitical dividend."
http://online.wsj.com/article_email/SB10001424052748704104104575622531909154228-lMyQjAxMTAwMDEwOTExNDkyWj.html
"I remain convinced that select commodities remain the most advantageous place to be"
ReplyDeleteNot that there aren't other good vehicles as well, my point really was critical of the simplistic notion that Bernanke must go.
Is it just me or do you guys regularly run into web sites that just won't download? I've been trying to download a site now for over an hour now, where the site begins to download but the download just sits there and never completes.
ReplyDeleteNo indication of what's going on, just a swirling icon in the tab at the top of my browser.
Software sucks, S/W engineers suck!
Holly Cow!! What a game. Kendra played the first half in goal. She made 3 really great saves and her team was tied 0-0 at half. In the second half, the other team scored first. Kendra scored the game tying goal with about 5 minutes to play. After 2 scoreless OT's it went to penalty kicks. The other team started off. Kendra was the 5th land last shooter. With the PK's tied at 3-3, Kendra put the winning shot in the back of the net.
ReplyDeleteEBAY/Paypal - Hmm, it's not readily apparent how one can combine shipping without having to involve the seller directly. I guess this makes sense in a way, but you'd think Paypal might have developed a better mechanism for this by now...
ReplyDeleteThat's great, did anyone comment on your dismemberment? ;)
ReplyDeleteOr maybe they recognized the waft of your medicinal odor and figured it all out on their own!
ReplyDeleteNo one said a word. Some people say I look like I have a rough edge, so maybe they were scared :)
ReplyDeleteYeah, I think maybe attempting to make sense of market gyrations has set me on the ragged edge too. ;)
ReplyDeleteGeneralized Anxiety Disorder
ReplyDeleteSYMPTOMS
"Generalized anxiety disorder (GAD) is more than the normal anxiety people experience day to day. It's chronic and exaggerated worry and tension, even though nothing seems to provoke it. Having this disorder means always anticipating disaster, often worrying excessively about health, money, family, or work. Sometimes, though, the source of the worry is hard to pinpoint. Simply the thought of getting through the day provokes anxiety.
People with GAD can't seem to shake their concerns, even though they usually realize that their anxiety is more intense than the situation warrants. People with GAD also seem unable to relax. They often have trouble falling or staying asleep. Their worries are accompanied by physical symptoms, especially trembling, twitching, muscle tension, headaches, irritability, sweating, or hot flashes. They may feel lightheaded or out of breath. They may feel nauseated or have to go to the bathroom frequently. Or they might feel as though they have a lump in the throat. "
I think I'm experiencing Chronic GAD (CGAD)...
ReplyDeletehttp://www.youtube.com/watch?v=eoSn2Y-b6wI&feature=player_embedded
ReplyDeletehttp://www.youtube.com/watch?v=q4FId2Sy2fk
ReplyDeletebetter still
I looked at the other Chinese auto parts companies such as CAAS and SORL, and all of them have collapsed starting November 9. More importantly, the Chinese small caps ETF HAO has also peaked on November 8 and is now down 6% since that peak. So it makes me feel a little better about WATG in that its collapse was not totally due to something it mentioned in its earnings statement.
ReplyDeleteIn any case, I just placed a sell limit at $9.02 for the 250 shares of WATG I purchased on Friday at $8.42 (in addition to the sell limit at $9.43 for 500 shares I purchased on Thursday at $8.93).
cp
ReplyDeletefirst take xaanax
then defrag the computer and run adaware
http://www.youtube.com/watch?v=3J_6BRbnQMs
ReplyDeleteWelcome, Tanaka-san! An old friend of mine was named Tanaka.
ReplyDeleteHooray KENDRA! Special hooray for Mark. On penalty kicks all the pressure is on the parent. Glad you survived.
ReplyDeleteNice videos TANAKA and anon. Made my evening.