Skiracer's stock slopes

[mrmarket]

Doubt it happens tomorrow:

catalyst not there

TOKYO (Reuters) - Asian shares extended their gains on Monday, supported by expectations the Federal Reserve and the European Central Bank will deliver new measures to underpin their fragile economies.
MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> edged up 0.5 percent, after climbing 2.2 percent on Friday for its biggest daily rise in a month.
Japan's Nikkei stock average opened up 1.1 percent, after ending up nearly 1.5 percent on Friday, also its biggest daily gain in a month. (.T)
The turnaround in market sentiment from recent heavy selling was triggered last week when ECB President Mario Draghi pledged he would do whatever it takes to safeguard the single currency.
His comments raised hopes the ECB, which holds its policy meeting on Thursday, will act to ease borrowing strains for Spain and other highly indebted countries facing surging yields that threaten to derail fiscal restructuring efforts.
Investors held their risk appetite, pushing the Australian dollar as high as $1.0498 in early Asian trade on Monday. The dollar index (.DXY), measured against a basket of major currencies, hovered near Friday's three-week low.
But the euro traded down 0.3 percent at $1.2297, slipping from a three-week high of $1.2390 touched on Friday. It slid to a two-year low around $1.2042 last week before Draghi's comments.
Uncertainty persisted in Europe about specific action, despite authorities speaking of the urgency to tackle Spain's fiscal woes which drove its 10-year government debt yield to euro-era highs of 7.78 percent last week, while Greece continued with its battle to convince creditors of its debt-cutting plans.
Jeff Sica, chief investment officer of Sica Wealth Management, was skeptical the optimism would be sustained.
"The problem being that central bankers do not have the ability to do 'whatever it takes' to save the euro. They only have the ability to undermine their credibility by making promises they cannot keep," he said, adding that the euro's recent strength has been based on short covering and its short term appreciation would be temporary.
The U.S. central bank also holds a policy meeting on Tuesday and Wednesday, with speculation rising the Fed might do more to bolster recovery, after data showed U.S. second-quarter gross domestic product expanded at a 1.5 percent annual rate, the weakest pace of growth since the third quarter of 2011.
"It (the GDP) contained enough weakness to support the Fed's commitment to an exceptionally long period of nearly zero overnight interest rates," said Richard Hastings, macro strategist at Global Hunter Securities.
"But the Fed's real catalyst comes from the most recent data in July, for Q3, which suggests a truly weaker story with greater risks of the U.S. drifting towards growth rates of 0.5 percent and nearly recessionary conditions in Q1 2013," he said.
U.S. Treasury Secretary Timothy Geithner will travel to Germany to meet with his German counterpart and ECB head Draghi on Monday.
Euro zone leaders will cooperate with the ECB to show their commitment to the stability of the euro, and would in the next few days decide on measures to tackle surging Spanish bond yields, Eurogroup head Jean-Claude Juncker said in interviews with European newspapers.
On Greece, European policymakers are working on options that may include having the ECB and national central banks take huge losses on the value of their bond holdings, officials said. Greek political leaders have agreed on most of the austerity measures demanded by its creditors, a source close to the talks said on Sunday.
Speculators cut their bets for the euro's further decline while also reducing their bets in favor of the U.S. dollar to the lowest in 2-1/2 months in the latest week to July 24, data showed on Friday. Their yen net longs have more than doubled while Australian dollar long jumped.

[skiracer]

[B]Interesting read although I always look at these things with some degree of probability and just as much improbability. And to what severity would this upcoming crash be. We've had a few down days this year where the market lost over 200 pts. which if figured on 13000 is only around 1.5 %. 5 % would be a big drop and around 650 pts. if figured on 13000. I've never seen a drop that large in one day but surely doable over the course of several weeks which we have all seen happen. certainly could take place but who knows.
B]

[billyjoe]

Mimo,
After reading this I still don't know what to believe.

http://en.wikipedia.org/wiki/Hindenburg_Omen

-----------------billy

[mimo_100]

confirmed Hindenburg Omen 7/24/2012

I received an email from Amateur Investors regarding a confirmed Hindenburg Omen occurring 7/24/2012. Near term things do not look good for the market, according to the email. Does anyone have an opinion on this Signal?

Not sure if it will work, but here is a link to the article:

http://www.amateur-investor.net/Weekend_Market_Analysis_July_28_2012.htm

Tim

[skiracer]

Ski, Thanks for the info on NJR and HOV. As you know, I can be like Doubting Thomas. It took at least 2 years for you to convert me to NJR and longer to try Morpheus , and how right you were. I'm now up 42.37% and 47.23% in my 2 retirement accounts with NJR and accumulating new shares like crazy. I really look forward to more setups that you come across. I'm actively looking for them myself but am still an amateur at the technical aspects.

--------------billy

Put a few sheckles into HOV Billyjoe and let it sit. Anywhere in this range/level or lower is cheap and a great buy.

[billyjoe]

Ski, Thanks for the info on NJR and HOV. As you know, I can be like Doubting Thomas. It took at least 2 years for you to convert me to NJR and longer to try Morpheus , and how right you were. I'm now up 42.37% and 47.23% in my 2 retirement accounts with NJR and accumulating new shares like crazy. I really look forward to more setups that you come across. I'm actively looking for them myself but am still an amateur at the technical aspects.

--------------billy

[skiracer]

Here is another stock you should be looking at and seriously consider buy now or in the near future. HOV is cheap right now and once we get Obama out of office this coming election homebuilding and the economy is going to come back strong. HOV is a major player and this is going to become a triple or quadruple or more before next spring once we get him and his admin. out of Washington. Here is the chart:
BTW, I bought this stock back in the middle of it's first cup base at 1.10 and sold it close to 3. This is going to be another big winner. Please don't miss out on this one.

Uploaded with ImageShack.us

[skiracer]

An update on NJR. Here's the weekly chart after todays action:


Uploaded with ImageShack.us

But I am saying that you should own this stock for your retirement port. It hasn't missed a dividend payment since God knows when and it has increased it divy payout like clockwork on a regular basis over the years that I have been accumulating it. Buy it, set up a DRIP acct., and deep six it and keep accumulating it everytime it splits which regularly takes place every 2-3 yrs.

[skiracer]

When you go out off the rocks, what percent of the time do you catch one?

They've put a size and catch limit on Weakfish now. The size limit is 13" and the catch limit is 1. It's almost not worth going fishing for them now but when I do go I usually catch one at least 50/75 % of the time. As I said I only go on specific tides at specific times of the day. And I am usually in contact with other guys I know who if they hear they are running with the tides will call me and say they are hitting and visa versa. It used to be that you could catch 30/40 of them in a couple of hours if they were running. and they would all be at least 20/24". I use a bucktail with a feather and a piece of white porkrind on the hook.

[mrmarket]

I hear they are catching fluke and bluefish off the beach and doing well with them. I'm not interested in either one of them although sometimes in the fall I will go specifically to the Barnegat Inlet to catch baby bluefish, snappers, for use as fertilizer in the garden. I chop them up and till them into the soil. They are great and rich in nitrogen. Right now when I go I'm fishing for Weakfish. I go to either the Manasquan or Barnegat Inlets and fish off the rocks on specific high tides, usually if one happens just around dusk in the afternoon. They call them "tiderunners" and for some reason or another they like to come into the bay thru the inlets on the high tide. In my opinion the Weakfish are the best eating of them all and provide a real good fight. They also have a very soft jaw and landing them off the rocks is hard to do in itself.

When you go out off the rocks, what percent of the time do you catch one?

[skiracer]

Ski...I'm hearing the fishing is a lot better this summer.

I hear they are catching fluke and bluefish off the beach and doing well with them. I'm not interested in either one of them although sometimes in the fall I will go specifically to the Barnegat Inlet to catch baby bluefish, snappers, for use as fertilizer in the garden. I chop them up and till them into the soil. They are great and rich in nitrogen. Right now when I go I'm fishing for Weakfish. I go to either the Manasquan or Barnegat Inlets and fish off the rocks on specific high tides, usually if one happens just around dusk in the afternoon. They call them "tiderunners" and for some reason or another they like to come into the bay thru the inlets on the high tide. In my opinion the Weakfish are the best eating of them all and provide a real good fight. They also have a very soft jaw and landing them off the rocks is hard to do in itself.

[mrmarket]

Ski...I'm hearing the fishing is a lot better this summer.

[skiracer]

Hi Ski

How are you? Hey, you have an email you like to share with me?

check your private messages.

[JohnHenry]

Hi Ski

How are you? Hey, you have an email you like to share with me?

[riverbabe]

deleted RB