Stock Market Today - Intraday discussion - Page 4736  

Anyone contemplating buying GLD puts just for the fact that whoever has those massive amounts of 140 March calls is going to start heavily selling them off?

Gold is in a very strong uptrend and appears that it could continue to move higher into next week. That doesn't mean that what you're planning to do can't work as pullbacks can always happen at anytime. But you would be fighting the trend. Good Luck!

you all do realize that SPY only dropped 3 pts from our yearly high right? thats not even a 3% "correction", and suddenly everyone sees blood on the streets..

 

 

Not everybody. At this time we're just pulling back to support within the strong upmove which began in Mar 09. There is no confirmation of a major reversal right now. That would happen only if major support levels were taken out and longer term technical indicators turned negative. The market would have to be at much lower levels for that to happen.

Those calling for a major top could be right or they could be wrong. Only time will tell.

I might not have been very clear.

 

I was actually saying that we're going back up again. That as the bull market rages, we get these little dips.

 

The downward momentum slowed considerably today, therefore, I see north in our future.

 

Sorry for the confusion.

If oil stays above $100 a barrel it will be difficult to break out to new highs. Oil is heading north in price indefinitely

Yep had a good laugh after everyone was calling for bloodshed last night

yea.. i can't blame them though... its like we all forgot markets can go down too... lol

 

i wonder how fast these guys will reverse course and jump back on the bull wagon if markets close green tmr...

 

jus fyi.. commodities are still the place to be.. regardless of whether the dow is up or down, commodities are green...  silver oil gold agri's.. SOGA!
 

 

Oil looks to be getting near breakout levels here..

 

If oil breaks out to the upside, will stocks take a dump?

I think so.  Look at how sharply stocks rallied/oil dumped at the rumor of Gaddafi getting shot last week.  This morning, oil pepped up on the better than expected jobs news and futures promptly turned negative.  Do you disagree?

 

 

Sounds plausible.

i think oil prices only negatively affect the market if theres alot of volatility..

 

if oil moves up 10 cents a day, for 20 days, i dont think the market will tank. But if oil runs up $2 in one day, then you'll see some panic on the streets..

high oil prices do have negative effect on stocks. Since oil prices are now in an uptrend stocks will be most likely follow a down trend. That 1300 support level is close but 1290 is a solid support. Next 5 days should be interesting. Many stocks on my list have been dropping and tech stocks tanked today. People taking profits and I think this will continue.

 

Gold looks like it could get to $500.00/oz. Where's oil heading?

oil only negatively affects stocks if the media makes it out to be like that. Its the stupidest thing i've ever heard of. Oh look oil's rallying i better get out of stocks?

The median estimate of 77 economists surveyed by Bloomberg projected an increase to 61. Forecasts ranged from 58.7 to 63.3.

I think it will miss estimates...

 

lol? increase in oil prices shrinks margins... it makes transportation of goods that much more expensive, not to mention the cost of production also increases (as some goods require the use of oil such as plastics). because oil is a necessity for many people, higher prices means they have to cut back on other things. You also see speculators taking profits on stocks, bonds etc and using that money to jump in on the oil rally, which probably causes higher oil prices and causes a simultaneous sell off in the markets...

 

Oil causing stock market to drop is not stupid, nor is it illogical. It makes perfect sense. You gota think macroeconomically.
 

 

I dont think Gold will see $500 oz anytime soon... I think oil heads to 120+ by June

 

er ...you mean 1500?

 

Thanks, I meant $1500/oz