Dumping into close 11-19?
- Thread starter pumpanddumper
- Start date
I don't see much happening this week. But we are at a critical point in the S&P. A close below the 1439-40 level on big volume next week would be significant. On the other hand we could work on building out the right shoulder (or is it the left shoulder? Where are the eyes exactly?). But regardless we are at a fairly critical point were if we should have a couple of closes lower on substantial volume, i.e., "distribution days", (Oh, what is that blow-hard's name that started IBD?) we might, finally, be able to conclude that the bull is dead (or at least on life support).
futures up big. Massive HP earnings
The last time the dow closed below 13,000 the futures ramped up, continued through Asia and Euro markets, Wallmart had huge numbers, and p00f a 300+ point day.
So far we have the dow closed below 13000, futures ramping, and the strong HP earnings. Looks like a repeat.
Time 2 cover your contracts now.
Get out if you're short.
http://www.bloomberg.com/apps/news?pid=20601087&sid=ayP8X8wfY9uE&refer=home
HP could revive the tech stocks after the lousy Cisco numbers.
This is a great market
Edit: time for investment bank bonusses. Reported everywhere. GS hands out the biggest bonuses because the people who work there are very smart and deserve it. The huge bonuses indicate the strength of the US economy, investment banking, the stock market, and the American Dream.
HP could revive the tech stocks after the lousy Cisco numbers.
This is a great market
Edit: time for investment bank bonusses. Reported everywhere. GS hands out the biggest bonuses because the people who work there are very smart and deserve it. The huge bonuses indicate the strength of the US economy, investment banking, the stock market, and the American Dream.
You must be long and crapping your pants as this sure doesn't seem very bullish about HP
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Strong PC sales have fueled much of HP's growth, but <b>the company warned that business is likely to slow.</b> Printer ink continues to be the company's cash cow.
http://biz.yahoo.com/ap/071119/earns_hp.html
LOL Apparently wallstreet and those who can move stocks dissagree. Futures up a lot, AH up. Tech up.
very strong positive move on futures at an important level
S&P 500 1,442.00 4.50 0.31
NASDAQ 2,038.75 10.75 0.53
They warned that just to be on the safe side. If you look at the numbers they are incredibly strong. This isn't a big deal. Just a single line of caution just in case.