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A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.

Thursday, September 11, 2008

Wally World

The last time WMT was at this level was late 1999-early 2000. Hmmm didn't the market nose dive after that?

Wednesday, September 10, 2008


How low will Gold go?
As the commodoties trade unwinds will a precious metals bottom signify the time to get back in on the long side?

Here's a thought...Where are all the profits from the Energy and commodities run-up going?

Equities? No they're down too....

Maybe the Dollar....It will be interesting to see if the EUR/USD finds support at the next FIB line.

Tuesday, September 9, 2008

Bull follow thru - Hah

The VIX broke through to the upside and the next stop could be above $30.The S&P took out all of yesterday's gains and breeched the bottom of the fib line. The July lows are next...

AAPL has hit the bottom of its year long range again, but is looking weaker here. The failed inverse H&S of last month propagted this downward move. Look for a bounce off of this resistance line and then the getting short should yield some nice profits.

Monday, September 8, 2008

Today means NOTHING......

It is pretty interesting that a 300 point move in the DOW means very little. All that Paulson and the bailout boys have done is manufacture a move back into the range-bound areas of last week. The catch is that one would expect the BULLS would have blown through the upper boundaries for a 500 point move and at least gotten above 50-week EMAs with ease. NOPE. Now take a look at the VIX...finding support above its EMA's...

What worked:

Consumer staples were on fire...a lot of new highs made. Checkout CHD, PG, GIS, HNZ.

CALM has retraced and may be worth picking up some calls on here.

What did not:
Technology got taken out to the woodshed....

Bottom-line is the BULLS have to have follow-through tomorrow and same store sales at 7:45 am prior to the open, Pending Home sales at 10am will slow the upward momentum.

Bull (T)rap -

Call it a melt upGlobal stocks, U.S. futures surge on Fannie Mae, Freddie Mac seizure

Global rally on back of plan to rescue beleaguered mortgage giants. • U.S. stock futures leap Gold, oil rise

BAILOUT U.S. seizes Freddie, Fannie Treasury Secretary Henry Paulson (left) and Federal Housing Finance Agency Director James Lockhart announce the FHFA will take control of mortgage giants Fannie Mae and Freddie Mac. Bernanke says move will strengthen housing market.• FDIC to help small banks with exposure to Freddie, FannieReserve debt, reserve judgment? (First Take) Likely fall for Fannie, Freddie

Bottom-line here folks: the people just got screwed, the banks just received an executioner's stay and are still on death row, and you have just witnessed the biggest fleecing of America since the purchase of a $600 toilet seat. Oh the simalarities........

Be VERY careful going long here. Take profits quickly. The SPY chart shows the levels that will be tested.
This rally may be the bulls last stand and plainly conveys the DIRE situation in housing and the continued rise of foreclosures. When the VIX bottoms out the Bulls are DONE....