And the Transports have a good chance of cracking the enormously important trendline you see below the current price level.
http://2.bp.blogspot.com/_DC_WvCGCWQ8/RZ9PMRjz8MI/AAAAAAAAAf4/LJPx2Muztas/s400/0105-%24tran.jpg
Lastly, the Dow Utilities got clobbered today.
http://3.bp.blogspot.com/_DC_WvCGCWQ8/RZ9PHhjz8LI/AAAAAAAAAfw/PBMEq0iLXcA/s400/0105-%24util.jpg
Now let's look at some short ideas. CBE:
http://3.bp.blogspot.com/_DC_WvCGCWQ8/RZ9PAhjz8KI/AAAAAAAAAfo/4uPB2fssujM/s400/0105-cbe.jpg
CNX:
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CNX:
http://2.bp.blogspot.com/_DC_WvCGCWQ8/RZ9O6Rjz8JI/AAAAAAAAAfg/Ckk6WLi553c/s400/0105-cnx.jpg
COF (mentioned often before):
http://3.bp.blogspot.com/_DC_WvCGCWQ8/RZ9O1hjz8II/AAAAAAAAAfY/OO3vMkc2SwU/s400/0105-cof.jpg
CPT, a good real estate play:
http://3.bp.blogspot.com/_DC_WvCGCWQ8/RZ9Ouhjz8HI/AAAAAAAAAfQ/CwvFGUCVOH0/s400/0105-cpt.jpg
ETR seems to have peaked out and slipped nicely today:
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ETR seems to have peaked out and slipped nicely today:
http://4.bp.blogspot.com/_DC_WvCGCWQ8/RZ9Opxjz8GI/AAAAAAAAAfI/k1tpaH3mh5M/s400/0105-etr.jpg
GS:
http://4.bp.blogspot.com/_DC_WvCGCWQ8/RZ9Okxjz8FI/AAAAAAAAAfA/OQPhjxuCEx4/s400/0105-gs.jpg
OIH may have bottomed out for now, in spite of my bearish view of crude oil. This may see an upward bounce next week.
http://2.bp.blogspot.com/_DC_WvCGCWQ8/RZ9OcRjz8EI/AAAAAAAAAe4/nEZAqMqExHw/s400/0105-oih.jpg
RIMM worries me, as does Google. This is amazingly strong. Just look at the accompanying volume as well. If it busts above its lifetime high, marked here, I'm going to hang it up for now on this one.
http://3.bp.blogspot.com/_DC_WvCGCWQ8/RZ9M-hjz8CI/AAAAAAAAAeo/shm0ZzNi0Ik/s400/0105-rimm.jpg
If you've gotten this far, here's your reward......a mash-up of two of my favorite movies: Rudolph the Red Nosed Reindeer......and Full Metal Jacket. Those easily offended, don't even bother clicking the Play button.
at 1/05/2007 15 insightful comments
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Labels: cbe, cnx, cof, cpt, etr, gs, oih, qqqq, rimm
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Thursday, January 04, 2007Buy Buy!
ABT looks attractive as a buy. This market is really overpriced, I think, but this is still a handsome chart.
http://2.bp.blogspot.com/_DC_WvCGCWQ8/RZ2M31mvO6I/AAAAAAAAAc0/_VUdReYcJUI/s400/0104-abtlong.jpg
HAL, on the other hand, is more symbolic of what's happening. Broken trendlines, weakening stocks, all masked by a strong megacap market
http://4.bp.blogspot.com/_DC_WvCGCWQ8/RZ2MtVmvO1I/AAAAAAAAAcM/HZ6DXUDz14o/s400/0104-hal.jpg
I'm starting to lose faith in GOOG (and RIMM) as shorts. Today was a very strong day on both counts. I've marked by stop-loss price on GOOG here.
http://1.bp.blogspot.com/_DC_WvCGCWQ8/RZ2MtlmvO2I/AAAAAAAAAcU/RilYSZNDoPQ/s400/0104-goog.jpg
DST is sort of fascinating in how it shows trendlines "changing coats" from support to resistance. This kind of thing happens all the time.
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DST is sort of fascinating in how it shows trendlines "changing coats" from support to resistance. This kind of thing happens all the time.
http://2.bp.blogspot.com/_DC_WvCGCWQ8/RZ2Mu1mvO3I/AAAAAAAAAcc/ewONqrtvFnY/s400/0104-dsttrendlines.jpg
BLUD, which I've mentioned many times before as a long, continues to be fantastic. Just look at this strength.
http://3.bp.blogspot.com/_DC_WvCGCWQ8/RZ2MvFmvO4I/AAAAAAAAAck/0UHxPiulUWY/s400/0104-bludlong.jpg
BAC, Bank of America, seems a possible attractive short as it seems to be changing direction here.
http://3.bp.blogspot.com/_DC_WvCGCWQ8/RZ2MvFmvO5I/AAAAAAAAAcs/EnyT1CcPbs8/s400/0104-bac.jpg
QID, the double-inverse NASDAQ ETF, is fascinating in the sense that volume is exploding and the price is finally turning around. Hopefully this is the shape of things to come.
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QID, the double-inverse NASDAQ ETF, is fascinating in the sense that volume is exploding and the price is finally turning around. Hopefully this is the shape of things to come.
http://1.bp.blogspot.com/_DC_WvCGCWQ8/RZ2MUlmvOwI/AAAAAAAAAbk/SrK_175r3fo/s400/0104-qid.jpg
OXY is a good representative of the weakening oil stocks.
http://2.bp.blogspot.com/_DC_WvCGCWQ8/RZ2MU1mvOxI/AAAAAAAAAbs/0QfPNHq2Dig/s400/0104-oxy.jpg
Whereas the broad OIH continues to falter. I've been bearish on oil for a few weeks now.
http://2.bp.blogspot.com/_DC_WvCGCWQ8/RZ2MU1mvOyI/AAAAAAAAAb0/it9kC2_lT5U/s400/0104-oih.jpg
HYDL, mentioned here as a short before, is also enjoying a downdraft.
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HYDL, mentioned here as a short before, is also enjoying a downdraft.
http://2.bp.blogspot.com/_DC_WvCGCWQ8/RZ2MU1mvOzI/AAAAAAAAAb8/XAp-Ye2CauE/s400/0104-hydl.jpg
Although I haven't mentioned HP (the symbol, not the company) in a while, this is a gorgeous example of Fibonacci retracements in action. Magical!
http://3.bp.blogspot.com/_DC_WvCGCWQ8/RZ2MVFmvO0I/AAAAAAAAAcE/JlgIQPJvlzQ/s400/0104-hpfibs.jpg
Finally, RTI looks like it may have put in a double top.
http://2.bp.blogspot.com/_DC_WvCGCWQ8/RZ2MB1mvOvI/AAAAAAAAAbc/JC7SkhD8GYs/s400/0104-rti.jpg
See you Friday afternoon......it'll probably be a late posting. It might not even happen until the weekend. But I'll get it done!
at 1/04/2007 26 insightful comments
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Labels: abby joseph cohen, abt, album covers, ba, bac, blud, dst, goog hal, hp, hydl, oih, oxy, qid, rti
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Wednesday, January 03, 2007Money Shot to Start the New Year
Greetings, my beloved fellow bears.
I introduce this year to you with some of the worst album covers of all time. Just to lighten the mood before we get down to business.
http://2.bp.blogspot.com/_DC_WvCGCWQ8/RZxfMFmvOsI/AAAAAAAAAaM/XzY1y4KoZVo/s400/0103-%24church.jpg
http://2.bp.blogspot.com/_DC_WvCGCWQ8/RZxfMFmvOtI/AAAAAAAAAaU/6Jxp6SjDWpM/s400/0103-%24crusaders.jpg
http://2.bp.blogspot.com/_DC_WvCGCWQ8/RZxfMFmvOuI/AAAAAAAAAac/H3VUGwBrmU4/s400/0103-%24dead.jpg
http://2.bp.blogspot.com/_DC_WvCGCWQ8/RZxfDFmvOrI/AAAAAAAAAaE/qk-I1liW7IQ/s400/0103-%24mckeithers.jpg
A merciful God has spared us from listening to the contents of the above albums on this blog.
I have so much to say, but honestly, I'm on the world's slowest network. So I'll have to keep it relatively basic tonight.
I rarely read USA Today. It is to journalism what Pamela Anderson is to dramatic acting. But I happened to see its cover story on Ten Reasons the S&P 500 Could Make a New High in 2007.
It was the usually claptrap bulls - - including Abby (ack! cough) Joseph (hack!) Cohen - - like to smear around. I will spare you the list, but the 10th reason they provided: "Because records were meant to be broken." What a bunch of nimrods.
I was delighted, of course, with today's action. We entered this year with the bulls snorting like mad. The GLOBEX was up huge yesterday. Markets around the world soared, including the parabolic Chinese market. And every blessed article on the stock market talked about what a fantastic year 2007 was going to be for the bulls.
So the market shot higher by 130 points. And I gobbled up a ton of S&P puts. Then the market starting sinking. It turned the other direction 170 points, but finally closed the day up 10. All the same, I'm not complaining. Serving up disappointment to the bulls is always a delightful treat, and this is a great way to start the year.
http://1.bp.blogspot.com/_DC_WvCGCWQ8/RZxe61mvOqI/AAAAAAAAAZ8/eUtKYjqcgNE/s400/0103-%24spxintrday.jpg
Here's the daily view of the S&P 500. Just take a look at today's range! What a tug-of-war!
http://4.bp.blogspot.com/_DC_WvCGCWQ8/RZxe0lmvOpI/AAAAAAAAAZ0/M4NJPil6wOo/s400/0103-%24spx.jpg
I've been promoting the $XAU as a short ever since about $149, and it continues to behave nicely. This is looking better every week.
http://4.bp.blogspot.com/_DC_WvCGCWQ8/RZxetlmvOoI/AAAAAAAAAZs/pJrN_FYdsnk/s400/0103-%24xau.jpg
Now on for the straight charts. I am posting this so late, I don't have time for commentary, but I'll just lay the symbols out for you. BHI...
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Now on for the straight charts. I am posting this so late, I don't have time for commentary, but I'll just lay the symbols out for you. BHI...
http://1.bp.blogspot.com/_DC_WvCGCWQ8/RZxel1mvOnI/AAAAAAAAAZk/qb9EwMRBukQ/s400/0103-bhi.jpg
CERN
http://4.bp.blogspot.com/_DC_WvCGCWQ8/RZxeelmvOmI/AAAAAAAAAZc/S_T1_U6J8Y4/s400/0103-cern.jpg
FTO, whose head and shoulders continues to form beautifully:
http://2.bp.blogspot.com/_DC_WvCGCWQ8/RZxeNFmvOlI/AAAAAAAAAZU/xxzwSpTkwsI/s400/0103-fto.jpg
GS:
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http://bbs.macd.cn/attachments.php?aid=1689843&noupdate=yes&3
飞剑蓝天
GS:
http://3.bp.blogspot.com/_DC_WvCGCWQ8/RZxeFVmvOkI/AAAAAAAAAZM/8NSC_5wUjQI/s400/0103-gs.jpg
QQQQ (again, just look at that range, highlighted in light blue):
http://1.bp.blogspot.com/_DC_WvCGCWQ8/RZxd91mvOjI/AAAAAAAAAZE/0P4pc3i0VrU/s400/0103-qqqq.jpg
RYL:
http://3.bp.blogspot.com/_DC_WvCGCWQ8/RZxd2VmvOiI/AAAAAAAAAY8/9DwbcS_zjps/s400/0103-ryl.jpg
And gargantuan XOM:
http://1.bp.blogspot.com/_DC_WvCGCWQ8/RZxdt1mvOhI/AAAAAAAAAY0/ARKpdTQiSg4/s400/0103-xom.jpg
I'm sorry for the relatively text-free post. But godspeed to you all, and for crying out loud, keep the comments germane (and non-anonymous, if you're able!)
at 1/03/2007 25 insightful comments
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Labels: $xau, bhi, cern, fto, qqqq, ryl
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[ 本帖最后由 hefeiddd 于 2009-5-5 14:05 编辑 ]
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