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| nikoschopen 2,824 posts msg #62281 - Ignore nikoschopen |
5/7/2008 2:15:53 PMStocks Decline as Oil Prices Creep HigherSo, it's okay to rally when the oil traded above 120 yesterday but not 123 today? What a difference one day can make, eh? I guess you can pooh-pooh that to the bank! |
| nikoschopen 2,824 posts msg #62282 - Ignore nikoschopen |
5/7/2008 2:41:02 PMOne additional thing that's particularly noticeable is that not only did we sell off last Friday when the payroll number came in "better than feared", but we're again selling off despite the "crappy result that's still better than expected" for the productivity number. This is especially troublesome (or is it?) considering that the bulls completely ignored all the bad numbers for the entire month of April and pushed the market up anyway. |
| heypa 283 posts msg #62285 - Ignore heypa |
5/7/2008 2:53:44 PM Just like a horse with its bit in its teeth heading for the stables.Come to think of it like my first ride as a kid on a U.S.Army cavalry horse at Camp Dix N.J.back in the middle "30"s.Scary ride then too. |
| nikoschopen 2,824 posts msg #62288 - Ignore nikoschopen |
5/7/2008 3:29:05 PM Here's what the editor-in-chief at Briefing.com had to say: Taking a Breather. I ain't so sure this is just a breather. When all this said and done, all the air might have been sucked out of the system and Bernanke and his cronies will be forced to drive the interest down to zero, zip, nada. There ya go, you have just been Bernanke'd! |
| nikoschopen 2,824 posts msg #62295 - Ignore nikoschopen |
5/7/2008 4:25:07 PM It's all too easy to get excited about the prospect of seeing the S&P plunge to its demise, but who sez it was ever that easy. The bargain hunters will most likely come swooping down like a opportunistic vultures driving up the prices in the process. But here are some points to consider. |
| mb504 29 posts msg #62297 - Ignore mb504 |
5/7/2008 5:00:34 PM I'm sticking to the entry of the "Bear Flag Pattern".. (PUTS and SHORTS) http://www.chartpatterns.com/flagsandpennants.htm |
| nikoschopen 2,824 posts msg #62335 - Ignore nikoschopen |
5/8/2008 12:30:40 PMAs we're sitting pretty here at unchanged mark and getting kicked around by bulls and bears alike, I should reinforce the above notion that we'll most likely be trading in a fairly tight range today before bucking lower tomorrow (Friday). Should that happen, it should set the tone for next week with a plenty of economic numbers to be digested. |
| nikoschopen 2,824 posts msg #62336 - Ignore nikoschopen |
5/8/2008 12:36:28 PMIt does appear as a bear flag on the weekly chart, but you also can't deny the fact that there's an ominous looking inverted head & shoulders pattern on the daily chart. |
| nikoschopen 2,824 posts msg #62343 - Ignore nikoschopen |
5/8/2008 1:46:07 PM |
| nikoschopen 2,824 posts msg #62348 - Ignore nikoschopen |
5/8/2008 3:03:12 PM This would be an ideal setup for tomorrow... |
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