DJIA Leads The Way As BSC Rocks The Stock Market On Mixed Volume; How Can This Be A Bottom Without A HUGE Surge In Volume On the Nasdaq And NYSE? It Can’t Be!
March 17, 2008 | 2 Comments
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Stocks gapped lower after a horrible announcement by JPM that they bought BSC for $2 a share. Now, while I don’t want to gloat on this, I just want to say that for the 100th time in my life I have warned a bunch of traders to not buy a certain stock and yet they still do it. There was one reader from Santa Barbara from RealMoney.com that attacked me 8 days ago for telling him BSC was a POS. Well here we are from $75 to $4 and yet still no apology. No, thank you. No, I am sorry. Just a big pile of nothing. From Eugj to BHCO to Gerard to WillPS to SCO to Geoffrey from Santa Barbara: all of these characters have called me out and told me that I did not know what they were doing and EVERY SINGLE TIME THEY WERE PROVEN WRONG AND EVERY SINGLE TIME I DIDN’T RECEIVE A SINGLE I AM SORRY OR THANK YOU. Is this what our world has come to? 
Oh well, there is no doubt I have become a sensitive character in my old age and things like this bugs me now. I just don’t know how yet to act when it comes to responding to jackoffs that make themselves out to be major idiots. I guess I will learn to ignore it in the future. The exact same way I ignore going long any stock below the 50 day moving average or go short stocks above the 50 DMA.
FOMC Injects the Market with Cash
March 11, 2008 | Leave a Comment
Here we go, Helicopter Ben Bernanke floods the market with more liquidity. I can not fathom how you can inject a poor market with more cash. This will simply prolong the downtrend, not too mention the flow of liquidity will find its way into commodities.
This move today will not change the overall downtrend, we may be getting our oversold bounce today. Bear markets will produce snapbacks like what we are seeing this morning. It doesn’t matter if it is short covering or small buying interest. What matters is the overall downtrend and we can not disrespect the trend.
Market Speculator
All Points South
March 6, 2008 | Leave a Comment
At this point there isn’t much else to harp on here. Cash is certainly king and you should either be in cash or operating in commodities. I would continue to avoid “value” plays, the likes of AAPL, GOOG, RIMM, and BIDU. It is madness that in just a short few months stocks can become value plays? No way, do not fight the overall trend which is DOWN. We’ll experience a few short bursts of strength but will be sold. Bear markets tend to get really oversold before they become attractive to the long side.
We need the FOMC NOT TO LOWER RATES any more, in fact the Target Rate should be raised and the discount rate be made an ACTUAL DISCOUNT RATE!!! Why? It is time to flush the garbage down the toilet rather than salvage it. If you were dumb enough to buy a house you couldn’t afford in the first place you deserve to lose your house. However, I am afraid the FOMC will inject more liquidity in the market than expected. Look for commodities to continue to run.
Cash is King
The Selling Continues With Stock Market Indexes Closing Near Their LOD; Charts Can Definitely Make A Difference!
December 15, 2007 | 1 Comment
Friday’s selling came on lower volume but one thing was very clear by the end of the day. The bulls have absolutely no juice and if a gigantic multi-Fed driven liquid injection in the market can’t keep the market up, I am not sure what people think will keep it up. Everyone knows that I only follow the charts to make my trades. And you better believe that is the truth. But sometimes you can look at the macro economy and combine what you see with charts to give you even more conviction than you normally would have with just the charts.
Recently it has become clear that the individual charts that have been showing up in my long scans are deteriorating to the point where there are no perfect charts, only a few green charts, and those that are looking strong are all in defensive industries. When I combine what I see in the long scans to what I see in the short scans, I can see that the numbers on the short scans are growing and growing and the ugliness of the charts are getting pretty nasty. This can be seen on the forums by looking in the area where I post all of my sells. If you notice a lot of stocks are showing up on the ‘nasty’ list.
These charts combined with the downtrends in all the indexes since the November top makes it pretty clear that we are going to be in a rough spot for quite a while. Now, I know some of you do not want to believe that and think that I am crazy. But I am telling you that I have been through enough good and bad and sideways market to have seen it all in the charts. I have also studied the market indexes in TCNet going back to the early 1900’s on the DJIA. So I have learned what bull markets look like, bear markets look like, consolidating markets look like, and even what it looks like when a bottom or top is forming.
Daily Market Analysis
November 15, 2006 | 1 Comment
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