Atlanta Cracker Posted August 5, 2011 Share Posted August 5, 2011 Umm, I fail to see your point. I just wonder why you are even watching the intraday activity of the market. You aren't afraid you'll miss out on your Dow 3,000 buying opportunity today are you? Quote Link to comment Share on other sites More sharing options...
Brentastic Posted August 5, 2011 Share Posted August 5, 2011 (edited) I just wonder why you are even watching the intraday activity of the market. You aren't afraid you'll miss out on your Dow 3,000 buying opportunity today are you? Because I'm not heavily invested in the stock market, I shouldn't follow it? I love following the market, it's one of my passions and I do have some GS puts that I'm long - but even if I didn't, I'd still be following for possible short entries and to keep my finger on the pulse of it. I just wonder why you care so much about why I follow the stock market E2A: If you're sincerely interested in my observations of the stock market, then I'm sorry for the somewhat smug response. But it just appears as though you're trying to call me out in some way. Edited August 5, 2011 by Brentastic Quote Link to comment Share on other sites More sharing options...
Atlanta Cracker Posted August 5, 2011 Share Posted August 5, 2011 (edited) Because I'm not heavily invested in the stock market, I shouldn't follow it? I love following the market, it's one of my passions and I do have some GS puts that I'm long - but even if I didn't, I'd still be following for possible short entries and to keep my finger on the pulse of it. I just wonder why you care so much about why I follow the stock market E2A: If you're sincerely interested in my observations of the stock market, then I'm sorry for the somewhat smug response. But it just appears as though you're trying to call me out in some way. I guess it came across that way but I wasn't intending on calling you out. It just seemed to me that being all cash should insulate you from reacting to how crazy intraday market swings were. I suppose I could have said, "Feels good to be in cash right now eh?" to get the same message across. E2A: I guess I was calling you out a little on the Dow 3,000 part of my 2nd comment but more to prove my point. Edited August 5, 2011 by Atlanta Cracker Quote Link to comment Share on other sites More sharing options...
Brentastic Posted August 5, 2011 Share Posted August 5, 2011 I guess it came across that way but I wasn't intending on calling you out. It just seemed to me that being all cash should insulate you from reacting to how crazy intraday market swings were. I suppose I could have said, "Feels good to be in cash right now eh?" to get the same message across. E2A: I guess I was calling you out a little on the Dow 3,000 part of my 2nd comment but more to prove my point. It's all good, brother . I just really love following and studying the stock market. I love trading - the game of it all is so fascinating. Trying to predict the outcome of the most complex game in the world - who wouldn't love it?!?!?!!!! FYI - I do still think that Dow 3k has a realistic chance of happening over the next 5 years or so. Quote Link to comment Share on other sites More sharing options...
MikesVikes Posted August 5, 2011 Share Posted August 5, 2011 (edited) I'm about 60% in cash. Exactly one week ago today, I was reading something on the net where a guy didn't see anything positive for this week. I've read those before and have seen the opposite happen. I thought about pulling everything into cash but I didn't. Even if I'm dropping at a 40% clip and come back up closer to a 100% ride, I can live with it. Edited August 5, 2011 by MikesVikes Quote Link to comment Share on other sites More sharing options...
Brentastic Posted August 5, 2011 Share Posted August 5, 2011 Curious if anyone besides me foresees a major stock market decline on the horizon? Not necessarily the same extremes as what I believe (at least Dow 5,000) but anything significantly down (lower than last summers low). Anyone? I feel fairly confident in saying that the May 2 peaks in the DJIA and S&P 500 are most likely the highest price level we'll see for quite some time (10 yearsish). Fairly confident and most likely - there are never certainties and I want to make sure that is clear. There will be bounces to the upside for sure during the next leg of the bear market, but I don't see us hitting the recent highs - 12,876 in the dow and 1370 in the S&P 500 - for a very long time. As always, stay safe and I hope you all are out of stocks or at least preparing to get out. Quote Link to comment Share on other sites More sharing options...
muck Posted August 6, 2011 Share Posted August 6, 2011 (edited) I wouldn't be surprised if we saw 1050-1100 before the end of the year some time. Edited August 6, 2011 by muck Quote Link to comment Share on other sites More sharing options...
SheikYerbuti Posted August 6, 2011 Share Posted August 6, 2011 I wouldn't be surprised if we saw 1050-1100 before the end of the year some time. I REALLY hope you're talking SPY and not DOW. Quote Link to comment Share on other sites More sharing options...
muck Posted August 6, 2011 Share Posted August 6, 2011 I REALLY hope you're talking SPY and not DOW. Sorry I wasn't more specific. Yes, S&P500. FWIW, the S&P500 is a bajillion more times representative of "the market" than the Dow30. Quote Link to comment Share on other sites More sharing options...
Brentastic Posted August 6, 2011 Share Posted August 6, 2011 Sorry I wasn't more specific. Yes, S&P500. FWIW, the S&P500 is a bajillion more times representative of "the market" than the Dow30. Agreed. Their charts have the same shape/movement,however, and most laymen seem to be more in tune with the Dow price over the S&P. Quote Link to comment Share on other sites More sharing options...
Avernus Posted August 8, 2011 Share Posted August 8, 2011 here's an article that I have read today and an update on the Israeli markets...I find them interesting....especially with what is happening in the 2nd link.... Gulf stocks drop after US credit downgrade Israeli Market Crash Quote Link to comment Share on other sites More sharing options...
Brentastic Posted August 8, 2011 Share Posted August 8, 2011 here's an article that I have read today and an update on the Israeli markets...I find them interesting....especially with what is happening in the 2nd link.... Gulf stocks drop after US credit downgrade Israeli Market Crash Didn't read the article but looked at the chart. Interesting, I've never thought to look at the Israeli charts but when comparing the 5 year chart for both the S&P 500 and the TA, the two charts were identical during the 2007-2008 crash and subsequent rebound. Thanks for the spark. Quote Link to comment Share on other sites More sharing options...
Brentastic Posted August 8, 2011 Share Posted August 8, 2011 (edited) Of course, this isn't always a predictor, but it can be and usually is on BIG overnight moves, like right now. Stock Futures INDEX _____VALUE_____ CHANGE_____ TIME DJIA INDEX _11,162.00 ___-240.00 _____23:09 S&P 500 ____1,172.50 ____-25.30 _____23:18 NASDAQ 100_ 2,142.00 ____-45.00 _____23:18 FTSE 100 ___5,125.00 ____-105.00 ____23:11 DAX _______6,257.50 ____-159.50 ____08/05 NIKKEI 225 ___9,110.00 ___-170.00 ____23:09 E2A Link to futures: http://www.bloomberg.com/markets/stocks/futures/ Edited August 8, 2011 by Brentastic Quote Link to comment Share on other sites More sharing options...
Chavez Posted August 8, 2011 Share Posted August 8, 2011 Sorry I wasn't more specific. Yes, S&P500. FWIW, the S&P500 is a bajillion more times representative of "the market" than the Dow30. Geez muck, I almost ran out the door to go buy a few thousand pounds of canned food. Quote Link to comment Share on other sites More sharing options...
i_am_the_swammi Posted August 8, 2011 Share Posted August 8, 2011 Going to take another beating today. From my accountant, who usually writes updates every couple weeks...I got this in my mailbox just now: Good morning all: In a departure from my normal levity, I’ll get straight to the point – we’re gonna get smoked today folks! That’s the short of it. S&P, in a widely expected move, cut the rating on US Sovereign debt to AA+ from AAA. Let us take note that the other credit rating agencies both maintain AAA ratings. In the real world, this is akin to your credit score going from 780 to 770. Is it good, no. Is it the end of the world, no. The US is still going to pay its debts. Period. For all of the postulating and grandiose pontification of the past several weeks, we’re paying our bills folks. You heard it here first in late July; a deal would get done and it did. Ok, so where does that leave us as individuals you ask? To try and trade in this market to me is like trying to catch a falling knife; it looks dandy if you can do it but you better be ready to stop the bleeding. My advice- stand pat. As I said last week, I guarantee you that Apple will sell a boatload of I Pads today, I assure you that Safeway will sell food by the ton and that Intel ships a zillion chips… America is still working and that is not going to change my friends. I think that we’ll see Dow 11000 today; I could be wrong but I don’t think so. If we break through Dow 11000, from a technical perspective we could be looking at two months or so of gyrations bringing us all the way down to 9600. I think that is unlikely at this point but it is possible. Stand pat. Remember March of 2009 when we hit bottom? Last month, the Dow stood at nearly DOUBLE where we were just two short years ago, Earnings have generally been good and that is the litmus that drives stock prices. For those of you that have been clients long enough, remember the phone calls we shared in those days of October 1987, when we stood firm as the market lost 20% of its value in a single day but yet recovered all of that and more. Let’s not let panic set in. Turn off the TV…change from KYW to 610 at :25 and :55 and listen to how the Phils are smoking the NL instead. It will be better for your blood pressure. Emerald tells me that the website is up and running correctly and as always, I’m here is you need me or need to talk… Quote Link to comment Share on other sites More sharing options...
MikesVikes Posted August 8, 2011 Share Posted August 8, 2011 Quote Link to comment Share on other sites More sharing options...
WaterMan Posted August 8, 2011 Share Posted August 8, 2011 That inverted pyramid is a b*tch. Quote Link to comment Share on other sites More sharing options...
JoJoTheWebToedBoy Posted August 8, 2011 Author Share Posted August 8, 2011 Going to get crazy this week.... Already down 255 Quote Link to comment Share on other sites More sharing options...
Brentastic Posted August 8, 2011 Share Posted August 8, 2011 Going to get crazy this week.... Already down 255 Yeah and it was down nearly 400 points not too long ago this morning. Quote Link to comment Share on other sites More sharing options...
MikesVikes Posted August 8, 2011 Share Posted August 8, 2011 Here's another update. Quote Link to comment Share on other sites More sharing options...
SayItAintSoJoe Posted August 8, 2011 Share Posted August 8, 2011 Yeah and it was down nearly 400 points not too long ago this morning. -500 Quote Link to comment Share on other sites More sharing options...
Savage Beatings Posted August 8, 2011 Share Posted August 8, 2011 President Obama says that Warren Buffett would still give us a Quadruple A rating, so you know... we got THAT going for us. He also chastized the Republicans for using the debt ceiling deadline as a bargaining chip. That must be why S&P downgraded us, because even though an agreement was reached, they didn't like the way that the Republicans negotiated that agreement. Yep. Quote Link to comment Share on other sites More sharing options...
Brentastic Posted August 8, 2011 Share Posted August 8, 2011 -500 The Dow was down 594 points at it's worst today (within the last 30 minutes). We're in real danger of the bottom falling out today. Not saying it will happen but there are no more support levels and this is looking very 'flash crashish'. Look at the financial stocks (GS, BAC, JPM, MS etc...) they are down twice as much as the major indices from a percentage point of view. My GS puts were completely out of the money last week and I cashed out of half for a 400% gain. When the banks are down big, there's something to worry about. At one time, BAC (bank of america) was down 22% today. Be safe! Quote Link to comment Share on other sites More sharing options...
Brentastic Posted August 8, 2011 Share Posted August 8, 2011 Regarding the US debt downgrade - these downgrades take several years to get upgraded. So we're downgraded for the next decade or so. It's not like they're going to upgrade us in a few months or a few years. This is a long-term downgrade. Quote Link to comment Share on other sites More sharing options...
The Wolf Posted August 8, 2011 Share Posted August 8, 2011 Is there room for a little humor in this area? wingoz trey wingo Dow drops 500 pts. Man the street is taking the Lions injury news hard It's a buying opportunity for some and hold for others. I feel for those who need their retirement funds NOW or in the very near future...Hopefully, they were in a very conservative portfolio anyway... Quote Link to comment Share on other sites More sharing options...
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