I suppose the trend is higher and that is good, but it is no where near a real recovery status.
Comments »Geithner: US to Play ‘Very Major Role’ In Helping Europe
Ubiquiti, $UBNT, Breaks The IPO Ice; A New Wireless Growth Co. For Your Consideration
Jim Cramer Voices Support for Occupy Wall Street Crowd
When asked “if you were 20 years old, would you be protesting down at Zucotti park?”, Cramer replied “probably yes.” Then his face instantly dropped, like WTF did I just say? Oh no, my bank friends are gonna be sooo pissed, OMGROFLMAO.
Lame.
Comments »IMF Downgrades Asia Growth
Bullish Sentiment Reaches Highest Levels Since July
What Keeps Nomura Up at Night ? More on the Eu Debt Crisis
Jim Rogers: US to Experience Stagflation Worse Than 1970s
Wibur Ross: Markets Are Over Their Fears for Europe
The “Quiet Crash” in Mortgage Bonds
Heads up as this is the second report in the last week about PrimeX mortgages.
Comments »#OCCUPYWALLSTREET: Holy Shit, Warren Buffett’s Son is an Idiot
GERALD CELENTE: Anyone Who Buys Into The Stock Market Now Is A Sucker
UBS Points To Earnings Estimates Rising for Q3 & 4
A Quick Preview of What to Expect From Earnings Season
A Meager Bear to Get Meaner by Historical Comparisons
We may have another 10-20% if history repeats itself….the question is does it happen from here or from the lows ?
Comments »Jim Chanos Beating the War Drum Again on China’s Banks
PPT Trader’s Note
The market has changed; IMO
Recently, we were in a trading range where we went from over bought to oversold in just a few trading days.
As of the past few days, we see minor weakness after a big rally and a overbought number on the SPY goes from 3.63 to 3.08 with the markets selling off negligibly. This has been a consistent characteristic of full on rally mode since 2008.
In other words we reach a near over bought number and then a small pullback entices new buyers to come in and changes The PPT reading to a not over bought number.
This is indicative of true buying within a rally as opposed to just short covering.
So be careful trying to short this market. It is likely we need an external shock or consistently horrible earnings to turn this scenario around.
I could be wrong, as this is an early, early observation, but this was a consistent behavior from the lows of 2009 to the highs of 2011.
It is also interesting to note how this behavior correlated with many calls over the past 10 trading days that we had reached the lows for the year.
GLT
[youtube:http://www.youtube.com/watch?v=WoAXW30mMAg 450 300]Comments »
Cramer’s Solution to Crisis: “We Need Nationalization”
He feels the European banks need to be nationalized in order to give stocks like JPM some breathing room.
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