Hot Pick Of The Day

[New-born baby]

I also agree that the big boys are in stand by mode. They have no clue what Mr. B might have to say. Maybe this explains the choppy action in the markets as of late?

Incredibly choppy of late, isn't it. I just looked at the XLE, and its chart mirrors SU chart. XLE had a double top breakout today, but closed with a black candle, and below the breakout level, too. Bearish. This morning SU volume was running at 2X the avg. daily volume, and the breakout looked strong, but then it ran into an incredible wall of selling. Might pullback quite a little tomorrow. We shall see . . . .

Around here, there are unmistakeable signs of a slowing economy: the grocery stores have experienced a pretty strong slowdown in sales and traffic. When people drop the level of spending in the grocery stores, you have a slowing economy.

[Runner]

Chart of SP500 shows the choppy action. I even turned on the color so one could see the up Vs down days. Not a user-friendly environment IMO.. Range bound with test at top of range. If we can clear the range I think we might test 1327 or old highs. Now MR. B could have other things in store though.

[Runner]

I should also mention this action is lousy for both long and shorts. Up one day down the next. I’ve also noticed a lack of any follow through in my scans. Leadership also has been lacking. This kind of market is one that grinds your account.

[New-born baby]

GOOG--today.

Something very significant happened to GOOG today: she fell through support on volume (daily chart). Below is a weekly chart of GOOG, and you can see that a symmetrical triangle has been broken to the downside (bearish). I have outlined some targets for her. The primary target is the $332 support (#1). It is very likely that GOOG falls down that far. Below #1 are a couple of support levels marked by dotted lines. Dow Theory says that GOOG could fall through those supports and land around the $225 level. The #3 target is support on the chart. Yup, seems outlandish, don't it? On the other hand, when BEAR-nard speaks, prices fall. We'll see. There is a lot of time between now and the end of OCT.

[Runner]

here was my read on goog a while ago http://www.mrmarketishuge.com/showpo...postcount=2690

[New-born baby]

here was my read on goog a while ago http://www.mrmarketishuge.com/showpo...postcount=2690

Right on the money! I remember that post, and I liked it then, and now it has proved to be accurate.

Here's a GOOG play for a bearish market.
SELL the DEC 06 $370 call for $32.50.
BUY the DEC 06 $380 call for $28.30.
POSSIBLE PROFIT: $420
MAX RISK: $1000

[Runner]

We get it right every once in awhile NB. I must say lately I could not find my way out of a paper bag…lol

[Runner]

Hey NB check out this link.. http://research.stlouisfed.org/publi.../Kotlikoff.pdf

[Websman]

I should also mention this action is lousy for both long and shorts. Up one day down the next. I’ve also noticed a lack of any follow through in my scans. Leadership also has been lacking. This kind of market is one that grinds your account.

I agree Runner. That's why I'm 100% cash until I see a real trend. I see no need to trade when the odds are stacked so far against me. I'll be back when the time is right.

[Runner]

I should also mention this document was delivered while the media has been distracted with the Israel’s invasion of Lebanon

[Runner]

Here is what I think the kicker is. The big dogs will turn their short term attention to the longer term realities and when this happens Katie bar the door.

[New-born baby]

Here is what I think the kicker is. The big dogs will turn their short term attention to the longer term realities and when this happens Katie bar the door.

There is no question about what will happen. There have been republics before; they all die the same death: a bankrupt treasury. The welfare and entitlement mentality kills them all. Social security, Medicare, Medicade, free nursing home care so the kids don't have to pay for it and the parents don't have to save for it; free health care for everybody; free food, free rent, free heat and air conditioning, and free education (K through Phd). And don't forget to raise the minimum wage! And best of all it is free! Until the other countries say, "We aren't going to pay your bills anymore" and they stop taking our worthless paper.

Do you know what happens then? Everytime? A dictator steps in. Caesar comes on the scene to save the nation. And no; it will not be John Kerry.

The article was well written and accurate. Too bad politicians can't do a simple thing like living within their means.

[eliaskane]

Entitlement

There is no question about what will happen. There have been republics before; they all die the same death: a bankrupt treasury. The welfare and entitlement mentality kills them all.

Oh, do you mean like this?

http://www.conservativenannystate.org/cnswebbook.pdf

Tongue partly in cheek... Just goes to prove that for every economist with radical ideas in one direction, there's another economist pulling the opposite way. I like the paper on shorting Cramer better than either of these.

[New-born baby]

Oh, do you mean like this?

http://www.conservativenannystate.org/cnswebbook.pdf

Tongue partly in cheek... Just goes to prove that for every economist with radical ideas in one direction, there's another economist pulling the opposite way. I like the paper on shorting Cramer better than either of these.

Welfare is welfare is welfare, be it for the "poor" or for the "rich." The end result is the same: it destroys the nation.

[spikefader]

Spike... If you prefer to treat me in an ill-mannered fashion, that's up to you.

..you will be covering before that little gap from four years ago fills. ... the only way EBAY is going into the crapper is if some huge scandalous behavior is uncovered.

Rob,

How and when have I been ill-mannered towards you?? Look Rob, I like you, and you're obviously frustrated and stressed so I'll cut you some slack. If something I've posted has been interpreted as rude I am sorry. The TA in EBAY sucks bilgewater and I'm just calling it how I see it; it's not personal against you. On the gap at $15.87, no man (or woman ) can possibly know whether it'll fill or not. Who knows what the future holds or what news EBAY will release that might send price down there. It's only another 30% down, not impossible, and looking at the monthly chart it's right where the price support is. And I'm prepared to risk my 11% to look for the extra 30%, as per my original plan. Ya can't criticize a guy for tradin' the plan can ya?