ES Journal Archive (2006 - 2008)
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Quote from Pekelo:
The power of lov... er... SMA 9:
That little mustard colored line is the SMA 9, keeping one on the right side of things...
Add the 18 and it gets even better.
Will see if this turns into a break but I don't think so. At least not till one more move back to 48-50.
I remember the oj verdict in 95. The market went dead when the jury walked in the room till the verdict was announced except for the floor running stops. Took a whole 2.5 points then as I recall, if that.
Quote from Pekelo:
Screw trading, OJ sentencing is on live! Good stuff!
Edit: Got 16 years, could be out in 6-7 years...
Sorry for the offtopic interruption...
Since last week we play the game of projection, should we do another one now?
My bet - we eneded with mildly up for the week, thus no matter what happen in between, we will crash to new low within weeks ...
Trend sell continues.
My bet - we eneded with mildly up for the week, thus no matter what happen in between, we will crash to new low within weeks ...
Trend sell continues.
Max 30 to 40 SPX points (swing hi of SPX 920) on the upside and then down again; market ends the week lower. But, of course, markets make a fool of forecasters.... Jim Rogers is wailing and shouting that crude should be higvher, much much higher, while crude sinks lower and lower. Buffet down by a few billions... even the best and the brightest are whacked by the markets.
Bad news continue -- don't want it, wish it can end soon, but the fact is the world is now in the early stages of a sharp, if not ptolongued, recession.
Sign of the times:
Tribune Hires Advisers to Help Stave Off Bankruptcy
December 7, 2008, 6:02 pm
Tribune has hired bankruptcy advisers as the ailing newspaper company faces a potential bankruptcy filing, people briefed on the matter said.
The newspaper, which was taken private last year by billionaire investor Samuel Zell, has hired advisers including Lazard and Sidley Austin, one of its longtime law firms, these people said. Tribune has been hobbled by debt related to that sale last year, which has been compounded by the growing drought of advertising for newspapers.
It is only the latest â and biggest â sign of duress for the newspaper industry yet. Several newspaper companies have struggled to cope with declining revenues and mounting debt woes. Tribune has pared back the newsrooms of many of its papers, including The Chicago Tribune, The Los Angeles Times and The Baltimore Sun, and it sold off Newsday to Cablevisionâs Dolan family earlier this year.
Here is my explanation what happened last week:
After that huge rally a week earlier the market was overextended and it snapped back, but overdid it to the down side. Then it snapped back again, but with a smaller amplitude, then it did 2 more times using the SMA line (reversion to the mean).
It is like a spring stretched then let it go, its action put on a chart, it is resonancing around a mean value with smaller and smaller amplitude before it finally comes to a halt...
Like this:
http://members.tripod.com/mwolff/SRStandingWave.gif
After that huge rally a week earlier the market was overextended and it snapped back, but overdid it to the down side. Then it snapped back again, but with a smaller amplitude, then it did 2 more times using the SMA line (reversion to the mean).
It is like a spring stretched then let it go, its action put on a chart, it is resonancing around a mean value with smaller and smaller amplitude before it finally comes to a halt...
Like this:
http://members.tripod.com/mwolff/SRStandingWave.gif
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