Comments on: Ouch!

By: johnny cash

johnny cash — Fri, 21 Nov 2008 07:08:14 +0000

Friday will be a big up day in stocks. Options expire then and PPT can do their big push up for the weekend and help the US psychology. Then next week we will continue down.

By: Francois

Francois — Fri, 21 Nov 2008 06:11:21 +0000

I wonder how much faith we can put in attempts to guesstimate the probable lows, even a range.
Assuming Mish Shedlock is right about deflation (and he presents a pretty compelling case IMO) being the situation we’re in now, how valid are the methods we normally use to evaluate a “fair” (logical, etc. take your pick) market price?

Just curious.

By: Theodore D.

Theodore D. — Fri, 21 Nov 2008 04:53:34 +0000

AGG,

This is a reponse to a post WAY up there. I used to do patent research for for private equity firms when they were considering investing in different companies. This is REALLY boring, so sometimes I would look for some of these patents, and I found a ton of them. It seems like all the big oil companies have been buying these up for a while now. It got so bad that engineers started trying to get patents on inventions that they never even made in the hopes that they would get “bought out.” It was pretty amusing when I would find out about some of these phony inventors who never actually made anything but would patent it. These patents would be so esoteric and unclear (more than normal) and I finally understood that most of this was to try and fool the oil companies into buying them out. It didn’t work all that often, turns out texaco can hire even smarter engineers to figure out that most of this was BS.

On a side note. If you ever want to do some fun research checkout “Rudolph Gunnerman” he “invented” a formula to combine oil and water to get better gas mileage for your car. He even made the front page of USA today newspaper. Turns out you can’t mix oil and water (who knew)? This guy has made Millions making fake companies and selling them off with inventions that don’t do jack. Amr Elgindy or Anthony@pacific.com figured him out right before he went to jail. His stocks still trade “SUF.” Fun stiff to read about.

By: DL

DL — Fri, 21 Nov 2008 04:46:41 +0000

Denise Yamada has pointed out that 13 of the Dow 30 stocks have recently traded below their 2002 lows. Doesn’t bode well going forward.

By: Mark E Hoffer

Mark E Hoffer — Fri, 21 Nov 2008 04:40:14 +0000

who’s so f—’ing dumb that they’re not paying attention to, either, Steve Barry, or AT?

forget what I’ve posted, you, still, have GTFKM..

explain it to your progeny, a la Steve Spears in nearby Video Thread..

By: Andy Tabbo

Andy Tabbo — Fri, 21 Nov 2008 03:59:26 +0000

dano:

You’re off. Maybe hitting the pipe a little too much. If you haven’t been paying attention, 768 was a MAJOR, MAJOR level for a lot of technicians. When that level got breached, loads and loads of SELL orders were initiated.

In fact, some would suggest THIS is how a low gets made….

When everyone is looking for a certain level to HOLD, chances are that LEVEL will not hold. I’m seeing 727 as the next line in the sand.

I should probably be short tonight, but I see the risk/reward STRONGLY favoring being long stocks as we approach key levels, like 727, tomorrow. I’m not suggesting being long right now….I’m saying tomorrow…in the first few hours…when everyone is SELLING….might be a good time to dip a toe in.

If 727 gets snapped….then just forget what you’ve read here…….

- AT

By: jacobsk

jacobsk — Fri, 21 Nov 2008 03:57:25 +0000

Also, the final traingle on AAPL’s daily chart has a target of $60. will it get there remains to be seen.
If it gets there , imagine where QQQQ and SPY will be.

By: jacobsk

jacobsk — Fri, 21 Nov 2008 03:52:49 +0000

the righteous wind behind the bear, so far, is about to get into some turbulence.
will that turbulence be a short-term effect or if it pulls the bear down remains to be seen.

By: philipat

philipat — Fri, 21 Nov 2008 03:00:37 +0000

OK, but hasn’t “Long Treasuries, Short every index” become the equivalent to “Long commodities, short Financials”?

Is this possibly the final bubble to burst?

By: DL

DL — Fri, 21 Nov 2008 02:59:09 +0000

BelowTheCrowd @ 6:43

“…if he were to announce a strong candidate for Treasury, and that guy got on TV with anything even resembling a plan, the market could easily rally 10% in seconds”.

True. But he would have to say something that stock market investors want to hear. Something pro-business and pro-economic growth.

Obama has been awfully quiet lately. If Bill Clinton had just gotten elected president for the first time, it’s unlikely that he would be so shy.