3 replies to this topic

[ogm]

I had to leave, couldn't watch the close. It didn't close as strong as I thought it might, unfortunately, but.. A/D closed much better then on yesterday's rally. And put/call closed high once again. $WPCVE at 1.05 ... We're pushing into some record territory on put/call here. Financials didn't croak. And some speculative stuff caught on fire. Confidence is creeping back into the market. Large cap techs were lagging today, but I guess with CSCO news that will be fixed tomorrow. Solar stocks had crazy day. TSL up 12%, LDK up 13% and so on. Speculation is alive and well Hope no one was short those.

Edited by ogm, 07 August 2007 - 04:48 PM.

[arbman]

... of course, it could be all an illusion, this sell off felt like the Jan 2005 to me on a larger scale, the worst is yet to come after the March 2005 top. It is exactly the same backdrop here, credit deterioration and yet tough Fed with the inflation concerns, internal deterioration for a while. Back then they were raising, now they won't come down... In fact, 2004 top was also feeling the same and this is like the initiation of the March 2004 rally, it might go non-stop all the way to the double top with so few on board and the majority at the opposite side of the action... It is really easy to be bull here as long as the financials do not deteriorate and they've been sold to the ground, I can't see how they will decline over the next week or two and enough for a bear bbq...

[ogm]

... of course, it could be all an illusion, this sell off felt like the Jan 2005 to me on a larger scale, the worst is yet to come after the March 2005 top.

It is exactly the same backdrop here, credit deterioration and yet tough Fed with the inflation concerns, internal deterioration for a while. Back then they were raising, now they won't come down...

In fact, 2004 top was also feeling the same and this is like the initiation of the March 2004 rally, it might go non-stop all the way to the double top with so few on board and the majority at the opposite side of the action...

It is really easy to be bull here as long as the financials do not deteriorate and they've been sold to the ground, I can't see how they will decline over the next week or two and enough for a bear bbq...

I think 1998 is a good comparison too ...

Detb issues, Credit crunch, Brokers tanking, and all of that on the backdrop of powering economy. Only this time its global economy and not internet boom.

btw, summation on XLF finaly turned up. I'll post the chart.

[arbman]

Isn't the Fed saying the world is doing much better than US basically telling everyone to take their money somewhere else?!? Just thinking loud...