40 replies to this topic

[tommyt]

Here we go again.

Crude back down to $93, investors are back to "BTFD", picking up more retail and financials.

Textbook consolidation, nobody can say we are overbought anymore.

Day Two of the selloff an the McClellan Oscillator is already oversold.

Yesterday you said Here we go , commodities making a bottom. I guess they are making a bottom again. The mc Osc was mild oversold yest...now its very oversold, and I am covering some shorts into yest low and first target area posted of 1635ish.

[PrintFaster]

I keep thinking commodities are bottoming, but I was wrong. Obviously there is zero inflation, but the good news is that the lower prices go, the more ebullient the consumer. Any wonder why people continue to flock to Starbucks every morning? And wonder why that stock never sells off? They haven't had a price increase in years, due to collapsing input costs. And the consumer, bouyed by lower gas prices, keeps coming back to buy overpriced drinks. [attachment=20925:coffee_0524.png] [attachment=20924:sugar0524.png]

[zoropb]

Here's why we can never go down.

Each time gas becomes somewhat expensive, Bernanke "jawbones" and the "Risk Off" trade sends it crashing back to the lows.


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PF it would be better to explain your definition of never going down it could be different than most of us here. To some it could be 100,200,1000 spx points etc.

[SemiBizz]

So, for me on this light volume day, this enough downside. Don't want those lows tested right here. There was a reason they didn't test those .50Rs. Now hopefully they can have a robot bidding race to try to tag them on light volume to set up some risk/reward to short this pig.

Edited by SemiBizz, 24 May 2013 - 09:31 AM.

[PrintFaster]

Bernanke is laughing at the bears.

All this fear, panic, and selling and the "TBTF" banks are hardly off their highs.

Wake me up when JPM is down over $3.

I guess I'll wander over to Zero Hedge and check out all the end of the world and financial collapse predictions.

Always entertaining to read the same 300 bears posting about how "any minute now, I swear!",

LOL....

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[ogm]

Volume is dramatically shrinking as we pull back.

We are not even at the 20-day and everyone is already screaming and predicting a crash.

Holiday volume. And according to sentiment polls, everyone is bullish as hell. "We can never go down" for you name it reason. btw, Fed isn't printing money, just so you knew. Its all in your head. Perception that has nothing to do with reality and is suckering people into bloated stocks.

The Fed's operations result in creating bank reserves, which may or may not turn into actual loans. So far they haven't due to lack of credit worthy or willing borrowers mostly. That's why with all that "printing" the economy is so weak.

And collapse in lumber pricing and the latest architectural billing index indicate that "housing recovery" phantasy is just about done too.

Edited by ogm, 24 May 2013 - 09:39 AM.

[SemiBizz]

PF, I don't get why you waste your time evangelizing. The SPX is down 47 handles right here. You could have spent some time educating yourself in trading And added to your account, instead of just watch it shrink. You are preaching to the choir here, This site is full of bagholders Only the traders are making money in this environment. The bagholders are sucking wind. You can do both you know...

[ogm]

PF, I don't get why you waste your time evangelizing.

Its his personality.

[ogm]

btw, if you look at SPY volume isn't that bad.

There is really only 1 indicator I can find that says we are a little bit oversold. Its not going to take much to resolve it, though. But we may be in for some more hesitation.

[SemiBizz]

See, that's the thing OGM, I pay absolutely ZERO attention to those Index ETFs. Very misleading. We're getting the bounce. 1661 target. 1642 here... HURRY UP !!

Edited by SemiBizz, 24 May 2013 - 10:09 AM.