Yes! Big fan of Dr. Friedman. One of my econ profs was taught by him.
The Surf Report
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Yes! Big fan of Dr. Friedman. One of my econ profs was taught by him.
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So far we were totally wrong regarding the approved bail out ushering in a short term new golden age. Sitting tight here, staying FLAT, trying to recover from very bad calls in the DJIA earlier. dabbling a little in stock picking. these are tough times, I hope everyone is surviving.
stay alive,
surf
stay alive,
surf
amazing calls with the 10300, wiz. simply uncanny!!
i am impressed, my hats off to you.
surf
Yeah, thanks Surf. Notice how EASILY it was taken-out. That was the "tell" about the market weakness.
At this point, we are in uncharted waters for the most part....so it's all a matter of emotion at this point. The long Japanese candle formation of a "hammer" on Monday was fake....it usually indicates a reversal. However, it may indicate we are close to a bottom. When we get that volume "crescendo" pattern (big move down on big volume), that should be the temporary bottom for now. Then we'll likely go to 8000 in a few months. This is going to be a nasty Christmas for many people....and the job market next year will be absolutely the worst since 1932.
Whoops...sorry Surf - bad call on the bounce (or LACK THEREOF !).
Wow, stops going off in NQ futures today at the lows of the day (1310-1315) were simply phenomenal....3x normal volume.
Interestingly, there was no such volume "spike" in the YM contract.
Huge emotion as we break that 9000 level in the Dow !
Hello 8000 !
We could be getting close to that volume crescendo capitulation....perhaps tomorrow or Monday ?
Wow, stops going off in NQ futures today at the lows of the day (1310-1315) were simply phenomenal....3x normal volume.
Interestingly, there was no such volume "spike" in the YM contract.
Huge emotion as we break that 9000 level in the Dow !
Hello 8000 !
We could be getting close to that volume crescendo capitulation....perhaps tomorrow or Monday ?
Thanks!
I believe it is critical to keep in mind that NONE of the governments rescue plan cash has actually hit the market yet.
I overly and wrongly anticipated the impact of the "suggestion" of the influx of capital on the marketplace rather than waiting for the cash to hit the market. It seems that this was one time where the actual occurance will have more of an effect than the rumour or preparations for the event. I am anticipating uplifting news to flow from the G7 meeting this weekend in DC which should in turn, combined with the imminent inflows, create a rally.
With this said, I remain extremely negative on Citibank C. Can't publish reasoning here, but suffice to say, I give the bank less than 2 years.
regards,
surf
I believe it is critical to keep in mind that NONE of the governments rescue plan cash has actually hit the market yet.
I overly and wrongly anticipated the impact of the "suggestion" of the influx of capital on the marketplace rather than waiting for the cash to hit the market. It seems that this was one time where the actual occurance will have more of an effect than the rumour or preparations for the event. I am anticipating uplifting news to flow from the G7 meeting this weekend in DC which should in turn, combined with the imminent inflows, create a rally.
With this said, I remain extremely negative on Citibank C. Can't publish reasoning here, but suffice to say, I give the bank less than 2 years.
regards,
surf
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