Wednesday, September 17, 2008

Now EOD 09/17/08

6:10pm: WOW, is this a RANT, by Captain Kirk, , hahahahahaha, I loooooove it, I'm just dissappointed that he left out the hang, draw and quarter part!!!!

6:00pm: The DIA and SPY have some support in sight, the DIA "could" find "some" support around 102.50, or 10250 on the INDU, the SPY around 112. Of course, we ALWAYS keep in mind, that there is no "support" in Bear markets, just as there is no resistance in Bull Markets.

Now this chart, the Put/Call ratio, is REALLY scary, we've hardly even moved off the bottom, I mean, we are not even CLOSE to where it was last March, or even July.

This chart is the NYSE new highs/lows differential, this is fairly new in Tradestation, and so I have no hysterical, eeeerrrrr, historical perspective, but I will tell you that Bob McHugh said, when we had that blow out low in July, that we had never seen as many new lows in the market, as we saw that day, that was July 15. As you can see, we've been close to that level the last two days. I mean, it don't mean diddly squat, but it was a bottom in July.

2:15pm: Welp, welp, welp, not much to say, I noticed Mikey knifted right through that 25 "area", the Q's look really lousy, GE got within 76 cents of it's lows in 2002, IMHO the SPY actually looks better than the Q's, but hey, that's neither here nor there, if we get nasty enough we may see that 108 "area" by the close on friday.


This, of course, will end, some day, Robert Pretcher has already said it will end in 2014, with the DOW at about 400, so there, you have a target.

7:10am: You know, the stupid "market" is down almost 2% again this morning, ES down 1.85% or 23 points, DOW down about 140 points, I'm, I'm, well, I'm getting a little tired of it. If "they" aren't careful, I will use all my resources to buy this stupid market, and crush all those poor misguided shorts, hahahahahahahahaha!! Actually, what I'm really going to do in these tough market conditions, is what the tough always do in these circumstances, go PAINT!! Besides, it keeps me away from the screen's, so I don't have to watch the stupid UYG, which will probably force me to do some thing incredibly stupid, like push the fricking mouse. Wow, bonds are just absolutely blowing fricking up, I watch the yeilds, the $TNX.X and $TYX.X, and they are down just about more than I have ever seen, over 4%. I've noticed in the news, and Sysin brought this up last night, that some of the money market funds are breaking below par again, I mean, does this stupid government suck, or what??? Where's Paul Volker when you need him??? We need to get those interest rates back to 20%, so we can bring an end to this idioticy, and start over again.
Hey, good luck to you out there today!!

6:40am: Single-family building permits fall to 26-year low , if you read the article, you will notice a lot of "the lowest in 17 years" type quotes, that is because of course, it was the low point of the last housing crisis in 1990-91. NOW, being a General Contractor at that time is history (yea yea, I'm so old I can talk about my life, and "history", in the same breath), I know, FOR A FACT, that housing didn't start pulling out of the doldrums, for five more years, around 1996. You can take that any fricking way you want.
Don't quote me on this, because I was probably "misinformed", but I swear I read some where, that no country has ever survived in it's current form, with it's current account deficit has been over 5% of it's GDP,
Current account deficit widens to 5.1% of GDP

6:30am: Futures have been meeping weeping down, ES down over 1%, DOW about 75 points, as oil is spiking because some fricking kid, with nothing else to do, blew up some stupid line, in Nigeria, plus, they are blaming the oil spike on AIG, hahahahahaha, as the dollar is dumping, because of, what else, AIG!!!!!! Oh god, be still my beating heart (oh shit, hold on a minute, wham wham!!! Whew, Ok, it's started again).
Anyway, as you may or may not know, I have certain principles, hold on a second (hahahahahahahahaha, yeeeaa, riiigghhttt!), one is, is that I don't "DO" stocks, number two is, is that I don't "DO" commie bastard dictatorship party controlled foreign fricking outfits (and NO, I'm not talking about the US, although, I have to admit, that description does fit almost perfectly):

Russian stock market trading halted for second day - report
7:12 a.m.
Trading on Russian markets suspended after sharp declines

Any body who is "in" these fricking outfits, and that includes any country that begins with the word "China", deserves any thing they fricking get, and I hope they all go broke!!

5:00am: Hahahaha, I had to laugh at myself a little this morning, I actually read (red, wred??) some real life news this morning, I can't remember the last time I was reading about some thing other than the soap opera going on in the markets every day. Oh, yea, futures are down this morning, they actually feel quite tame, as they are "only" down about 1/2%, ES down about 9 points, or 90 cents on the SPY.
Anyway, I'd forgotten all about the Ryder Cup, hahahaha, sigh, it will be nice to watch some thing udder dan dis stupid market. Why I bring this up, is because I read (red, wred??) this article, Woods theories seem amiss , and I was thinking, does this guy sound like some kind of "Street" salesman, eeeeerrrrrr, analyst, or what??? Some how, he seems to think that he can justify Woods lousy record in the Ryder Cup, 10-13-2, as some how being good. What he actually tries to do, and this is a classic, is the same thing that "analyst" do, and that is try and sell you some defensive stock, that will "outperform" when the market goes down, IE, it goes DOWN less than the market does, hahahahahahaha! Hey, give it up pal, Woods is a stinking DOG in the Ryder Cup!
If you got 15 minutes or so, listen to Toni Hansen's weekly market update, . It's not what she says so much, it's her sweet little voice. After being in her trading room for a couple of years, it's hard to believe, that what she is, is she's a KILLER, hahahahaha!

Well, I'll be damned, a Wall Street shrill, who actually brings up some very nice, and practical idea's, Protect yourself from crises . Sysin and I talked about this very thing last night, and I, for one, am very glad I took the time to get my accounts spread around, starting last January, even though it was, and CONTINUES to be, a fricking pain in the ass!


sysin3 said...

well that was homelier than Princess Anne ;-)

QQQQ trendline back to 2004 comes in around 39.

.500 retrace of 2002 - 2007 rally is around 37, which is also close to 2006 low.

Cucca said...

I know the 2006 low, that was my hit of the last few years, I got in at 35.71, and rode it into November, made two years worth of income. Of course, that income runs out in two months, hahahahahahahaha!! Maybe the Q's hit 35.71 in November.

Cucca said...

I noted this the other day, that the Changewave Alliance, of which I yam a member, says that IT spending is absolutely sucking the big one, which could lead to a piss poor earnings season next month.

sysin3 said...

IT spending, yep, I got personal knowledge of that.

In the toilet. Actually, sent to India, which is a toilet.

Oops, was that a non-PC remark ? Yep, call somebody who cares.

blogger templates | Make Money Online