Something to consider.
Also, FAZ is being flagged as OVERBOUGHT. The accuracy stats of the algorithm are the following:
1 FAZ Yes -8.50 80.00 5.00 45.05
That’s 80% over 5 signals for an average loss of 8.5%.
Some OVERSOLD names include:
EEB, PIN, ASI, SINA etc.
First! Bounce time.
In regards to the PPT’s EEB suggestion—
You can play a bounce in EEB ( the bric nations etf) by buying EDC
EDC trades at almost 20 times the volume of EEB, and it is triple levered to the same underlying regions.
Also, alternately, you can look to be long the Dow. (DDM , DIA , etc) . The Dow 30 stocks track performance of emerging markets more than the other indexes.
Shut up.
Sina been os for a while now.
Burned and out.
Yes, it has been getting flagged every other day. It is on the verge of irrelevancy. However, accuracy is still over 50%, so I will give it the benefit of the doubt for now.
I thought no Chinese stocks?
Full disclosure- SINA has burned me twice the way a Chinese hooker burns the WNR.
I’d get used to oversold indicators triggering with regularity until additional plans to print money are announced.
The more I watch “Too Big Too Fail” reminds me how much we need Dubya back. Maybe he should get the IMF job opening.
Here’s more proof that Obama is every bit as skillful as Bush was, when it comes to running the country:
(AP) – 5 hours ago
WASHINGTON (AP) — Thousands of companies that cashed in on President Barack Obama’s economic stimulus package owed the government millions in unpaid taxes, congressional investigators have found.
The Government Accountability Office, in a report being released Tuesday, said at least 3,700 government contractors and nonprofit organizations that received more than $24 billion from the stimulus effort owed $757 million in back taxes as of Sept. 30, 2009, the end of the budget year.
The report said the tax delinquents accounted for nearly 6 percent of the 63,000 contractors and grantees examined, and it cautioned that the real number might be higher because the known tax debt does not measure such factors as income underreporting.
Among the examples was an engineering firm that received a $100,000 stimulus act contract but owed $6 million in taxes. The IRS called it “an extreme case of noncompliance.” A social services nonprofit that received more than $1 million in stimulus funds owed taxes of $2 million.”
How can a non-profit owe $2 Million in taxes? I was pres. of a non-profit for a year, board member for 3 yrs. The only taxes we had to pay was on bank interest, which was like a nickel or a dime. I’m skeptical of that report.
” Obama is every bit as “skillful” as Bush was, when it comes to running the country”
Exactly. Neither of these bozo’s could punch their way out of a paper bag.
Who, with the capability to do the job well, would really want it (and could get elected)?
And that is why we are doomed. But there’s always money to be made for whomever can figure out how to do it.
Futes now in the red.
The “animal spirits” of Mr. Market seem to have left the building.
QE2 worries perhaps?
I’m sure we’ll get a bounce tomorrow but I wouldn’t hold long overnight.
Tomorrow will be a FAS-tastic day. The first in a long long time.
____________
So speaks Mr. Limm. So it is written, let it be done.
_________
Lol
Fred: Scooby, let’s just see who’s behind this mask of Mr Limm!
The gang: omg Jake Gint!
If the original thought was written by an avatar of a thought, it was therefore never written and remains a thought which leads to the inexorable eventuality of your written fallibility. Ergo, there is no rally.
I’m scared to buy, so I will buy double what I normally do because I’m probably not the only pussy afraid to buy right now. long live PPT for saving me from myself
I’m not about to get full retard long and buy linked in though.
What are the chances we go back to PPT 2.5 for oversold when QEII is done?
prolly more like 2.63
Time to fly tech support over to JakeGint’s house for the wordpress exorcism. Please and thanks.
Say we pull together a couple of bullish days…will it still make sense at these elevated levels and in this liquidity tightening environment to keep bidding up prices?
You know what I love about this game, I learn something everyday. FWIW, China Businesses have to make their yearly tax payments by the end of May, therefore less liquidity in the Mainland China Market, which is one of the reasons that Shanghai Comp is down. For the US Session, I am looking for attempted small rally which should fade…since I know that the Clam is wishey washy, I am feeling a lot better about all of this.
OK, having to deal with Goldman Sachs advising to buy commodities, grrrrrr..our little US Dollar is hanging out at 76.00ish support.
So they can get out…..
These fuckers can just drive the market in any direction they choose:
May 24 (Bloomberg) — Commodities rebounded from the biggest drop in almost two weeks after Goldman Sachs Group Inc. advised investors to return to raw materials. Asian stocks gained and the Australian and New Zealand dollars strengthened.
Goldman Sachs suggested buying oil, copper and zinc, reversing last month’s call to sell commodities, while Morgan Stanley raised its forecast for Brent crude by 20 percent. The Greek government endorsed an accelerated asset-sale plan and 6 billion euros ($8.4 billion) of budget cuts to win extra aid and stem a market slide that is threatening to swamp the most debt- laden euro-area nations.
“We believe that the risk/reward once again favors being long commodities,” Goldman Sachs analysts led by London-based Jeffrey Currie said in an e-mailed report today. “Economic growth will likely be sufficient to tighten key supply- constrained markets in the second half, leading to higher prices from current levels.”
Yep. They are also saying oil in the $130 range by the end of the year and into 2012. You can kiss any thought of recovery goodbye at those prices.
So what gives here. Is oil supply really so tight that the price leaps upward at the slightest hint of an economic recovery?
Who doesn’t realize that oil at $130 will effectively shut things down again?
It’s different this time. Because I said so.
lookn at aig, 50/100/200 dma down. even thought they are seen as a global power house. there books were cooked in the past to show premiums that werent correct. i was thinkin about buying some but i came to this conclusion, they suck! its imposible to put i price on this stock. (for me anyway). in order for the gov to break even new stock has to be priced at 28+.
Agreed, but sometimes you just have to buy a crooked company that sucks, because, when the company publicly admits its crooked, and then settles, its stock moves higher. BAC may fit into that category today:
“(AP) Bank of America has agreed to pay $410 million to settle a federal lawsuit alleging the bank charged excessive overdraft fees.
The nation’s largest bank said in a court filing Friday that it has reached a memorandum of understanding to settle the claims in the suit by paying $410 million. The settlement is subject to court approval.
Consumers alleged the bank processed the payments in a way that caused more overdrafts.
Anne Pace, a spokeswoman for the Charlotte, N.C., bank, said Saturday that BofA is “pleased to reach a fair resolution” to the case. BofA has already has addressed many related customer concerns, she said.
Wells Fargo is appealing a $203 million judgment in a separate California case.”
aig, insurance ! i dont want to roll the dice, floods, volcano, nuke melt down…