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post #21 of 136697
10/13/06 at 7:37pm
Thread Starter 
Pullbacks are healthy.
post #22 of 136697
10/16/06 at 12:21pm
I'm going to go out on a line today and put my non-existent reputation on the line (please tell me you found that mildly humorous) and predict that we go over 12,000 today on the DOW. I dunno if we'll close there, but I think we go there in today's high.
post #23 of 136697
10/16/06 at 12:35pm
Thread Starter 
Quote:
Originally Posted by Baggi
I'm going to go out on a line today and put my non-existent reputation on the line (please tell me you found that mildly humorous) and predict that we go over 12,000 today on the DOW. I dunno if we'll close there, but I think we go there in today's high.
Could happen.

I'm not liking the open with the bet I'm making.

Looked Friday afternoon like it'd be time to cool off for a day or two. You've got 9 green candlesticks on the Q and Compx charts right now. That's just nuts.

But futes are up. So we may get our Dow 12k. It is coming soon.

As I write this: S&P futes unchanged, Naz futes up 3 pts.
post #24 of 136697
10/16/06 at 2:46pm
We are at heavy resistance @ 8,671 on the NYSE. Dow 12k may require a break there first.

Chart by Ted burge, Visit his stockcharts page.

post #25 of 136697
10/16/06 at 6:08pm
Thread Starter 
Looks like it might be 10 candlesticks.

Wowza!

What will CPI and PPI say?

Good PPI could rip open Dow 12,000

post #26 of 136697
10/16/06 at 7:28pm
10 points from 12k!!!....big blue chip stocks & the large tech names are in $$play$$ right now, thats why we are movin
post #27 of 136697
10/16/06 at 7:37pm
Thread Starter 
Quote:
Originally Posted by rossiTK
10 points from 12k!!!....big blue chip stocks & the large tech names are in $$play$$ right now, thats why we are movin
We came with in 3 points.
post #28 of 136697
10/16/06 at 7:54pm
03:33 ET Fed's Poole says sees equal chance of a Fed rate hike or a rate cut - Reuters

hmmmm.........
post #29 of 136697
10/17/06 at 1:13pm
Quote:
Originally Posted by rossiTK
03:33 ET Fed's Poole says sees equal chance of a Fed rate hike or a rate cut - Reuters

hmmmm.........
We are really at an interesting time for the fed. One one hand, we have the wild card oil. Oil looks to be headed downward, but OPEC could always step in at any time. Also, grains will hold the commoditity index up, which may help oil stay up.

On the other hand, we have an economy which is most likely reaching the end of an expansion phase, with a slowing housing market most likely to slow the whole economy.

If oil goes up, we raise rates. If housing slows too much and the economy halts, we slash rates. Hopefully we don't see both of these happen together, or we are in a mess. At the time things look rosey, but we will see how long that lasts.

IMO Poole was the only one right and they should have raised .25 more in July to really stick a dagger in the markets but save us later on...
post #30 of 136697
10/17/06 at 1:14pm
Thread Starter 
Today will be big down day JMHO
post #31 of 136697
10/17/06 at 1:51pm
Quote:
Originally Posted by dr_sean
Today will be big down day JMHO
We're down about 50 points on the Dow right now. How much worse do you think things will get? ...thinking of bailing and getting in lower...
post #32 of 136697
10/17/06 at 1:53pm
I gambled with some SPX puts this morning and ended up winning. Scary stuff though, didn't have the balls to hold for the rest of the day, although it is taking quite a hit...
post #33 of 136697
10/17/06 at 1:57pm
Quote:
Originally Posted by Korey
I gambled with some SPX puts this morning and ended up winning. Scary stuff though, didn't have the balls to hold for the rest of the day, although it is taking quite a hit...
Yeah, well after seeing all the green days this feels like a stock market crash! After all, everything is relative.
post #34 of 136697
10/17/06 at 1:58pm
Quote:
Originally Posted by Jonathan
We're down about 50 points on the Dow right now. How much worse do you think things will get? ...thinking of bailing and getting in lower...
Moving averages are very spread out at this point, with no historical support untill 11,850. Also all indicators remain overbought.



chart by Ted Burge.

post #35 of 136697
10/17/06 at 2:07pm
So this might get much worse?
post #36 of 136697
10/17/06 at 2:15pm
IDK so far these dips have been great entry points but I'm not buying.
post #37 of 136697
10/17/06 at 3:17pm
Thread Starter 
Indexes down quite a bit now.

I covered my QQQQ puts yesterday.

Didn't want to be in for the PPI report.

Man would I have banked.
post #38 of 136697
10/17/06 at 3:23pm
Well, markets never go straight up and after my all green day yesterday I could have bet large amounts of money that the market would go down today. Of course, no one knew what would come out in the PPI report, so that was the X factor. Bad news again tomorrow and we'll see an even larger correction.
post #39 of 136697
10/17/06 at 3:53pm
Quote:
Originally Posted by Baggi
Well, markets never go straight up and after my all green day yesterday I could have bet large amounts of money that the market would go down today. Of course, no one knew what would come out in the PPI report, so that was the X factor. Bad news again tomorrow and we'll see an even larger correction.
So you don't think this is just a one day correction? Tomorrow could be worse?! *gulp*

Someone make those CPI numbers good! Or is it the CCI? lol The stock market loves three letter words.
post #40 of 136697
10/17/06 at 4:22pm
I dunno what the news will be tomorrow, but if its bad, yes the market will go down further.
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