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« The Flight to Bonds Continues Amidst Deteriorating Economic Forecasts | Main | Double-Dip Watch: Uptick in Industrial Production »

Tuesday, August 17, 2010

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Daniel  - Taz

Here in OZ we may have seen a top today. Quite some bullish commentary yesterday. Banks are really struggling. And the market is around the 50% retracement level which should pressure the market if my call of a diametric ending on August 10 prove correct. Seeing a lot of nice action ex BHP in the commodity stocks which are always late to the party. and talk of a new M&A cycle following the BHP bid for Potash. And no evidence yet of a reversal in US treasuries which bodes ill for the market in general.

Michael

Your comment that commodity stocks are "always late to the party" couldn't be more false.

Daniel  - Taz

OK let me rephrase: commodity tend to outperform in the last throes of a rally.

Wave Rust

For me, the counter-factual is: what if we had a banking system, structured and monitored like Canada?

i know its a nonsequitor.

wave rust

Account Deleted

Dow Jones Futures before opening bell
http://niftychartsandpatterns.blogspot.com/2010/08/dow-jones-futures-before-opening-bell_18.html

Wave Rust

to all readers who trade for a living, are you long the indices for this short term trade (7-10 days)?

imo, you should be. you'll hate yourself if you aren't. the speed will rise quickly.

don't try to be cute if you aren't any good at scalping.

spx could be near 1175 by Friday or Monday.

fwiw, my sell on the treasuries still stands.

wave rust

Mamma Boom Boom

>What We Should Have Done Instead of the Bailouts<

I've always thought that Bush screwed the whole thing up. There should never have been any discussion of bailouts, we already had all the laws needed to handle the situation. We had the bankruptcy courts for the Wall Street firms, and the FDIC for the banks. The system was in place.

Mamma Boom Boom

>to all readers who trade for a living, are you long the indices for this short term trade (7-10 days)?imo, you should be. you'll hate yourself if you aren't. the speed will rise quickly.<

Anything is possible, but I say we head down.

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