Tuesday, February 8, 2011
2/8/11 Killer Joe/ Seven Straight For The DJIA
Reminds me of the day in 2010 (posted here) the almighty 'seven-out' ran down every shooter at the table for 2 1/2 hours straight.
Here we are with seven gains in a row for the Dow. What's next? I don't know, but I have no bets on red tomorrow. When was the last time the DJIA rose eight times straight? That would make a killer headline.
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Is there any reason to think we sell off tomorrow? Sure. There's been at least one every trading day for the past seven.
ReplyDeleteIs there any reason to think we rally? No.
We rally.
Interestingly, Russell 2000 futures didn't rise today above yesterday's high. They didn't even rise today above Friday's high!
ReplyDeleteRussel has been a laggard the whole rally. Still in an uptrend. I am looking at the QQQQ as my market tell and they are right at the 58 resistance i have been boring you guys with. IF it breaks tomorrow with a little volumn I could see a euphoric breakout in the entire market occuring
ReplyDeleteGreat Sax. Nice Jazz Piano. Market needs to cool off but will it? My $$ algo says go bull with short & intermediate term stops at 1305. But only IT G/R ratio is worthwhile and only if you can believe a target of 1426.
ReplyDeleteExactly, markets don't go straight up!
ReplyDelete"the internet and a highly connected world makes things move much faster"
I've often thought precisely the same thing.
So what did all the "sudden acceleration" BS cost TM? 1, 2 billion? Probably more I bet. After the US Gov's exhaustive study of the issue that included NASA running millions of code check come up with?
ReplyDelete"Operators need to be more selective in their pedal choice."
Just fing shot me now.
This BS makes me want to puke (TM)...
ReplyDeletehttp://www.nytimes.com/2011/02/09/business/09auto.html?src=twrhp
Natty and Ray Lahood... 2 on my hit list :)
ReplyDeleteWho is Ray lahood
ReplyDeleteWho is Natty?
ReplyDeleteFine. Add RB to my list :) Anyone else? Bueller...Bueller... I'm in a pissy mood tonight.
ReplyDeletelooks like tomorrow may be a gap lower. gap lower + rebound all the way to 1,332? is that the final nail in the bear's coffin?
ReplyDeleteCheck out the chart of MidCaps: MDY. All time highs. I say the S&P follows suit some time in 2011/12. RAS will be $10 by then.
ReplyDeleteOK, TOF is on the my list now...NEXT!
ReplyDeleteThat didn't take long...Patricia is on the list now.
ReplyDeleteAll it takes is to target one of your holdings huh Mark? Fine, then. RAS will dip to $2.60 on Thursday, allowing you to get in a little over 10% lower, before quadrupling by this time next year.
ReplyDeleteTOF- I'm sure you get the play I'm thinking of for RAS. The last 2 earnings reports have been a disaster. I suspect some weakness tomorrow into the close.
ReplyDeleteI think you had about 60K shares before you bailed last time. How many do you have right now?
"Operators need to be more selective in their pedal choice."
ReplyDeleteI don't get it Mark, why are you angry with LaHood? From the description, it sounds as if the Toyota system isn't completely fail-safe(for instance no brake over-ride).
The Toyota isn't the only vehicle with drive by wire throttle, and the system has been in use in vehicles for over 10 years, I'm completely misunderstanding something about the Toyota issue. Is or isn't their system designed around fail-safe parameters?
Ray LaHood is a former Congressman from Peoria, IL who was appointed by Obama in some sort of bipartisan approach to his Cabinet.
ReplyDelete“The jury is back,” said Ray LaHood, the transportation secretary. “The verdict is in. There is no electronic-based cause for unintended high-speed acceleration in Toyotas. Period.”
Interesting factoid: R LaH is a Lebanese American and there are many of those in Peoria going back quite a few years. He got his start as the chief assistant under Bob Michel who was Speaker of the House for many years under Reagan, maybe before. It's all politics.
yep, Mark. everyone is thinking that it has tanked the last 3 conference calls so why not the 4th time? well, last spring when the markets were roaring the stock gapped higher only to tank lower when the market tanked lower. however, this time i think the markets don't tank lower...they trade slightly down / sideways for a little bit before going higher. meanwhile, RAS gaps to $4 and only comes back down to the $3.50 level before working itself higher.
ReplyDeletecheck out the link i posted directly from RAITs own team which talks about the revival in commercial RE. thats directly from the horse's mouth.
"Francis" (MarkW) I think you have earned your new knickname.
ReplyDeletehttp://www.youtube.com/watch?v=0OnpkDWbeJs&feature=related
CP- Last year Ray Lahood said take all of your Toyota cars and return them to the dealer. Did you read the NYT article I posted? Wow, we are so happy TM has decided to open a new $60M 'safety" center in Detroit. Graft my friend, graft.
ReplyDeleteIs any system with 2 or 3 pedals fail safe?
TM got screwed big time.
I wouldn't doubt for an instant that politics are involved, or abuse of authority to be more precise, I'm just not thoroughly convinced their diagnosis wasn't pre-determined by a misleading definition.
ReplyDeleteIt really isn't enough in my mind to pass a simple 100,000 cycle device test for instance, even though that often meets some standard set of engineering requirements to qualify in terms of reliability. A system like that really should be designed to some well defined set of fail safe parameters that aren't subjective. I know you know what I'm referring to, considering your aviation background.
Mark,I really feel like the NASA test wasn't very well defined. If the system is really safe, then why is it now necessary to modify it?
ReplyDeleteYeah, I agree, the entire charade stinks to high-heaven in so many aspects.
RB- Knew it before I watched it! I swear, for some reason, my kids always poke me in the shoulder to get my attention. Now I have another line to use...'Touch me, and I'll kill ya'.'
ReplyDeleteI am not saying Ray LaHood is dishonest or the investigation is a cover-up. However...... I do know that fly-by-wire on helicopters has had problems years ago (which have been corrected by shielding of components from electromagnetic interference such as from radio towers). Drive by wire could have similar problems.
ReplyDeleteAll right my friends (TOF exempted), I've got a pile of cash under my bed and need to sleep on it :)
ReplyDeleteGot a real sense something is going to break either way soon.
And yes, I did read the article. I'm not so sure I'd want to learn how to design a fail-safe system based upon Japanese techniques, I've been there and done that. I've fought that fight, starting with EMO buttons on factory production equipment. 20 years ago we had to fight tooth and nail for nearly two years to convince Japanese engineers they couldn't sell heavy industrial machinery in the US that didn't meet basic safety requirements.
ReplyDelete"Drive by wire could have similar problems."
ReplyDeleteYes that's right, it's the nature of the design that creates the need for some sort of backup safety interlock that overrides the entire system in case of a malfunction.
Japanese don't understand the purpose of such backup systems, I have direct experience with this first hand.
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