I'm calling it - The Top Is In

[flyingdutchmen]

 

[Ivanovich]

Quote from sub0:

JNJ tanking in the pre-market. Sales were down. The only reason they beat was with cost cutting/layoffs. They also cut research and development so sacrificed future growth to beat the street. Not getting much love in the pre-market.


The street wants to see sales growth to know if we are in a recovery. Not have to worry about more job losses coming for the sake of "cutting costs".

The fact that they beat would have been enough last quarter. Not this time, eh? Things that make you go "hmmm"...

 

[sub0]

In my opinion Alcoa was the red flag that went up. Once they came in and beat by using cost cutting when their real numbers were down, I knew we were in for a bumpy ride. Now you got JNJ trying to pull the same trick and they got fried in the pre-market.

 

[Ivanovich]

Quote from sub0:

In my opinion Alcoa was the red flag that went up. Once they came in and beat by using cost cutting when their real numbers were down, I knew we were in for a bumpy ride. Now you got JNJ trying to pull the same trick and they got fried in the pre-market.

Uh, they all tried pulling the same trick last quarter. And it worked. That alone should tell you something.

 

[asiaprop]

I dont see any ramp up at all. JnJ disappoints, GS downgraded, look at CIT, most banks actually down pre-market. I dont predict but will be on the short side as soon as the velocity on the downside increases. The only thing that keeps the indexes unchanged pre-market is tech names.

Quote from Ivanovich:

Pre-market ramp up, on schedule.

 

[Ivanovich]

Quote from asiaprop:

I dont see any ramp up at all. JnJ disappoints, GS downgraded, look at CIT, most banks actually down pre-market. I dont predict but will be on the short side as soon as the velocity on the downside increases. The only thing that keeps the indexes unchanged pre-market is tech names.

Please look at the time that was posted. If you had, you would have seen that the comment was logical.

 

[asiaprop]

my apologies, I jumped the gun. Did not look too bad at the time you posted.

Quote from Ivanovich:

Please look at the time that was posted. If you had, you would have seen that the comment was logical.

 

[Ivanovich]

Quote from asiaprop:

my apologies, I jumped the gun. Did not look too bad at the time you posted.

No worries. That's the trouble with forum posting instead of traditional chat

 

[asiaprop]

well at least I kept an eye on the market. Sold some Vix Oct20 22.5 puts and long 20 Vix Futs. Lets see how we get through this earnings week...I am happy I dont need to predict ;-)

attached my positions.

Quote from Ivanovich:

No worries. That's the trouble with forum posting instead of traditional chat

 

[swtrader]

Quote from swtrader:

Fed technition: 'well, sir, we've done our job on the market, lets call it a week, and get ready to defend the dollar next week'

Bernanke 'not so fast, we've got to run this thing to a new high'

Fed Technition2 'but sir, that;s a waste of resources, we've done our job and the dollar is the task now'

Bernanke 'but there's this anonymous guy on the internet who called a top. he thinks he's so smart. i'll show him

Fed technition1 'sir, you're losing focus...'

Bernanke 'who's the fed chair...me? or you?'

Fed Technition2 'sir...'

Bernanke 'everyone take out your business card and read the title...anyone else's say 'fed chair? didnt think so..'

bernanke 'got him. ok guys, do what you need to do now'

fed technition1 thank you sir'

fed technition2 ' he's kinda weird, isnt he'

fed tehnition 1 'no worse than the last guy - he thought running up housing prices was the answer to everything'

fed technition 2 'this isnt going to end well, is it'

fed technition 1' nope'