Well, its back to work tomorrow.
Courtesy of Ron Griess of The Chart Store, here is what we are going to be looking at: Large SPX swings up and down, from the October 2007 highs to the March lows, including the recent rally:
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Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof. —John Kenneth Galbraith
Retail Sales in Jan rose .4% headline m/o/m, .7% ex auto's, .6% ex auto's and gasoline and .7% at the core. The headline figure was less than expected while the rest were slightly better. But, with respect to non headline sales, because Dec figures were revised lower, taking the two months together were about in line with forecasts overall. Sales rose in electronics, building materials, food/beverages, clothing, sporting goods, dept stores and restaurant/bars and fell interestingly for online retailers, health/personal care, furniture and motor vehicle/parts. Bottom line, headline sales were below expectations due to the greater than expected fall m/o/m...
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September 7th, 2009 at 3:07 pm
the rally- my head still spinning-
fabricated non-sense- reality will prevail-
and the market will again show us the ugliness that is this economy for many years to come
September 7th, 2009 at 4:27 pm
@ahab — check this out — you head will spin so fast it will helicopter right off your shoulders …
http://finance.yahoo.com/echarts?s=LEHMQ.PK#chart6:symbol=lehmq.pk;range=3m;compare=aig+mtlqq.pk+fre+fnm+c;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined
… and this …
http://finance.yahoo.com/q/cq?d=v1&s=AIG%20FRE%20FNM%20LEHMQ.PK%20MTLQQ.PK
If there isn’t a sign of Impending DOOM in those two links, then I really have taken the wrong color pill.
September 7th, 2009 at 4:30 pm
Ron Griess of The Chart Store
that cat makes with Nice Charts~
yes, in all seriousness.
September 7th, 2009 at 5:00 pm
Ditts that R. Griess has the dope charts.
When I look at the mild correction (9%) sandwiched between two bad ass rally’s (42 and 20%) it screams to me that the tape is overbought… or that we’re about to sky rocket even higher.
I find the latter a bit lacking in technical justification at the moment, for whatever reason fundamentally.
As per our discussion on Singer’s dow chart from earlier this week, I cant but help see the March lows as a likely Left Shoulder on a much larger Inverse Head and Shoulders pattern… foretelling potential equity doom… and incidentally, the greatest potential buy entry for a long ever there was.
Crazy the permeation of the H&S, replicated to infinity… in a fractal sense… across the weekly, daily, hourly, and 15 min charts. Just crazy shit.
Oh well, back to Humboldt County’s Reggae JamDown internet radio stream from Big Up Radio… and making the most insane pico de gallo this side of the Rio Grande. My hands are burning from prepping the “Hot” batch earlier. Gotta love the habanero/ thai hot combo. With some Milagro Reposado margaritas later… Labor Day irieness.
September 7th, 2009 at 5:09 pm
constant-
thx for the charts-
looks to me like a huge sell signal-
if that doesn’t clue someone in- they deserve to lose their money-
much akin to Brokaw saying on NBC evening news- how high can the Nasdaq go- when the index was sitting around 5000-
that was a clue to sell right then, right there
September 7th, 2009 at 5:47 pm
Yikes look out here it comes trouble for bubble US economy….
China alarmed by US money printing
The US Federal Reserve’s policy of printing money to buy Treasury debt threatens to set off a serious decline of the dollar and compel China to redesign its foreign reserve policy
http://www.telegraph.co.uk/finance/economics/6146957/China-alarmed-by-US-money-printing.html
Top Chinese official signals move away from dollar
http://rawstory.com/08/news/2009/09/07/china-objects-to-dollars-growing-liquidity/
September 7th, 2009 at 7:50 pm
@I-Man
That ‘hot batch’ sounds fine…
Brah, whatever you do, don’t casually wipe your eye…
September 8th, 2009 at 12:31 am
Quite frankly, since I don’t own a single stock I don’t worry about swings in the markets that list them.
@ km4
China has been doing some saber rattling over the dollar for some time now. Then they buy Treasuries, albeit not as many as they used to. It’s time for them to shit or get off the pot. Actually, I hope it is the former. It may be our only hope of saving our currency from those miscreants in D.C. Now, before you all start posting about how that would be like China cutting their own throat, remember this; investors eventually sell their losers too. They take those losses when they 1) perceive that their investment will never be worth what they originally paid for it and 2) perceive that holding onto it could be substantially more painful in the future. In other words, take your hit and cut your losses