I lost a little today because of FSLR. But that’s okay because the market will trade up another 40 tomorrow. Since the new year began, I’ve been bankrolling millions while having less than aggressive exposure to stocks. The moves have been powerful and it is making me a believer. It’s not just the fact that stocks are trading up; I am not naive. European bond auctions are going swimmingly and yields have dropped. From my vantage point, the ball is in our court and we’re in an election year.
Placate the masses and afflict pain onto others is the motto. Watch out Iran. Before the year is out, they will likely park some tomahawks for Obama inside of their palatial gardens.
Here are the facts:
Economic data is improving and BAC isn’t going out of business. It’s a start, no?
[youtube:http://www.youtube.com/watch?v=8efjQGCfClc&ob=av2e 603 500] If you enjoy the content at iBankCoin, please follow us on Twitter
BAC has Buffet’s back
I can’t hear you… I’m munching on my potatoe (sic) chips
What? No more range-bound trading?
The economy is doing just fine.
Oil Declines as U.S. Gasoline Demand Drops to Lowest Level in 10 Years
http://www.bloomberg.com/news/2012-01-19/oil-gains-as-u-s-jobless-claims-fall-to-lowest-level-in-almost-four-years.html
The market, being a honey badger, just doesn’t give a fuck.
40 oz malt beverages for everyone.
That’s such a slammin track. One of the best Common’s put out since, “The Light”
Go find big companies, that were beat down from last year. Buy them. Sell in Dec of 2012. Seems all too easy.
Looks like GOOG crapped the bed on its quarterly. We’ll at the very least open down tomorrow. I do think the GOOG thing is a speedbump rather than something that will derail the rally.
Those looking for a decent entry point for some index longs will get an opportunity tomorrow.
Here are the comments I posted in Chess’ blog earlier today;
The $RUT is in one of those grinding, methodical trend modes where we move 1% or so per day for what seems like weeks on end. A sort of water torture for those on the wrong side of the trade.
These are my favorite kinds of markets….when I’m on the correct side of the trade that is.
Check out a weekly price chart of the $RUT that includes MACD and you’ll see the following;
1) the 17-week EMA is about to cross up and through the 43-week EMA,
2) the MACD is in a very strong uptrend, confirming the price action,
3) the $RUT has this week broken out to the upside from an ascending triangle
All of these point to plenty more upside to come for the $RUT.
1) the 17-week EMA is about to cross up and through the 43-week EMA,
What convinced you to use ’17’ and ’43’? Why not ’19’ and ’47’ or some other arbitrary pair of numbers?
17 & 43 EMA are widly recognized as the best weekly. Not arbitrary at all – go google it.
Here’s one article: http://seekingalpha.com/article/27520-technical-tool-17-and-43-week-ema-crossovers
Guys, I bought weekly BAC calls at yesterdays close. Sold at the open and bought weekly puts. Sold those at the close. I am now purchasing a McDonald’s so I can eat cheeseburgers all day everyday like Chad Ochocinco.
2012 the year of BAC
Ok ok ok ok ok – Who wants to play Edward 40-hands?
Fly … Thnx for MDR. The FWLT train left the station without me but I remembered your interest in MDR and got aboard that one for a duplicate though somewhat delayed trip to the 200 DMA … Hopefully.
OEW Roadmap:
“Let’s review this uptrend, which started the day after Thanksgiving at SPX 1159, since it’s getting a bit extended.”
“We count a Minor wave 1 to SPX 1267 in early December. Then a Minor wave 2, 61.8% retracement, to SPX 1202 by mid December. Since then the uptrend has been in Minor wave 3.”
“This Minor wave has been subdividing into more detail than Minor wave 1. We currently have Minute waves i and ii at SPX 1243 and 1230 respectively. Then Minute waves iii and iv at SPX 1297 and 1278 respectively.”
“This puts the SPX in Minute wave v of Minor wave 3. From the SPX 1278 Minute wave iv low, we count three waves up during Minute wave v: SPX 1303, 1291 and 1315 so far. This very short term count suggests: after a notable pullback, with SPX 1303 as support, the next new highs should complete Minute wave v and Minor wave 3.”
“Then the largest pullback since Minor wave 2, with support at SPX 1267, should follow for Minor wave 4. After that, the market should rise to higher uptrend highs for Minor wave 5.”
“Short term OEW charts remain positive since SPX 1230, with support now at the 1291 pivot. Short term support is at the 1313, 1303 and 1291 pivots. Overhead resistance is at SPX 1327, 1345 and then 1356. Short term momentum is just coming off of being quite overbought.”
speaking of 40s, this may be more apt:
http://www.youtube.com/watch?v=3woEPxaJUAI&ob=av3n
I guess since the govt is destroying the currency, the market has to trade to Dow 1 million.
PCLN is killing off Shatner,
and moving to a fixed price model.
PCLN at $530 bucks, makes me so want to short this p.o.s., thinking way too dangerous. The chart on is incredibly bullish.
Looking forward to the turn-around. It shall come, in due time.
Turns out I should have done it at the close today after GOOG miss!
Bad sign, Google is the god of all stocks.
here’s what stupid..everybody talks about earnings and margins and valuations like it’s still 1999, but it’s not, and in the end you all trade the stocks in a time frame where none of that matters. Nobody holds onto stocks LONG ENOUGH for any of it to matter. Short interest, news, mm’s, bots, algos, and Washington run the prices now. And unless you have their toys, you’re frucked as the French say.
you should not generalize – many people hold on to stocks for very long time… hey, many hold on for generations – I know a few people like that…
all the stuff you’ve listed doesn’t mean much to Buffet and his followers.. Earnings and margins do ..
if you talking about day trades, than you are right, but in the big picture of stock markets and money management day trades play only a small part .
Day trading us a losing proposition unless you are very lucky, well funded, and have an alien space magician doing your trades.
A mighty fine top hat there.
You can trade short term and long term, you know. Realize how stupid it is and accept it – don’t fight it.
How much better do these guys sound in this, the 150th debate? They actually sound electable.
At least they do debate.
NBA sports analyst. Traveler extraordinaire. Chief Chinese Party Socializer. Professional non Euro-land Bow man. Commie Book endorser. 89% President (when not golfing “full time”).
Leave it to the “elected” Peter.
When’s the last time you cut your own grass?