My faith teaches me that Tzedakah trumps petty personal #$%$. Soooo... for the "worthy" and others(I don't care-I share-and THAT rhymes:), Real Internals(those useless, ridiculous backwards looking #s trumped by the sophisticated tools of the Mensa-gifted-I AM guilty of relentless exposure of two-faced PHONIES-lol-it hurts, huh?:), will not turn back up after Wednesday(Thursday closed). That does not mean the market can't turn on a dime, but chances disfavor that result. Hence, I still forego ANY new equity purchase and my hedge/short ETF plays(SH, PSQ and RWM(collectively green not counting cashed in profits in UVXY and skimmed profits in SH) STAY on.Would take pretty big upside reversal to wipe out profits at this point.
Soda is breaking down a bit on pretty good volume which is hardly shocking considering the runup was fueled, in part at least, by cr@p, and as posted, those momos who jumped on, jumped OFF even faster.But, GL longs. Eventually, I'll be back long, but not by emotion-by price action and market direction-I.e.-disciplines. Nice chatting with you today Stocks:) Thanks to Mr. Golden for the connection.
Poppin, Wind, Jim, Papa et al -be very careful right now. I'm quite comfortable on sidelines. It's ONLY one day which doesn't much count, but remember yesterday that Ph@rtman had ALREADY piled into equities after being agnostic" (out of stocks) since February. Thanks Dennis-you really are an incredibly accurate contrarian indicator-it's only a day, but HE said yesterday that Gold had a "watershed" upside reversal Monday. Really Dennis? LMAO. "Ciao" (we ARE Europe now aren't we Mr. President-you won-so far:)to my 4-5 "buddies" and "God Bless you" to my many, many detractors:)
Well, well... the CBO just delayed implementation of Obamascare for employers by a year. Who woulda thunk it? Lol.
Sentiment: Strong Buy
Tks for the heads up and extra skepticism. Just missed my next buy on SODA by a couple of pennies, maybe better that it didn't hit as tomorrow may be a better chance. Bailed out of UVXY and EDZ too early today as my dog was pacing around like the world was gonna end. He said ROTRO again and I asked him which it was, risk on or risk off? Turns out he just needed to pee :-)
I hear you Wind. I quit listening to my dog after the first 100k. He claims he was confused and was basing his recommendations on a "Brewster's millions" algorithm he had acquired from my cat.
Regardless of what these internals say, the fact is that if you hadn't exposed yourself to adding equities last week you missed a 400 point rally and the opportunity to pad your portfolio in case of a more serious downturn. Everyday there is an opportunity to make money if you know where to look and have the courage to take action. I bought Soda in the $60s and sold in the $70s again and I will probably continue to do so but that's because I know the long term fundamentals are still strong. Id like to see more volume but with SODA that's never really been a good indicator Atty. Now with the market yeah I agree that the latest bounce back has been on light volume so I do pay attention there.
I,'be been following Carter Worth for last 5 years and I honestly don't know how he is still in business with Oppenheimer. I get his reports daily and I can tell you the Guy is wrong 7 out of 10 times with his TA. Something about that tells me the technicals are far less reliable then they have ever been. Two weeks ago he said we would enter bear market territory and this week he called for S and P to hit1,675. I don't get it and when I don't get it, it ain't to be gotten IMHO.
Thanks for always offerinng these internals Atty and I hope they are right cuz I don't think the market is priced according to the fundamentals weakness of the economy. That's my opinion of course.
Further, I don't trade ST.GL with that over time Mark.One BAD move and you're dead.Google it.I'm quite tired of arguing it.The stats do not favor the ST trade for retail-PERIOD Mark.
Sentiment: Strong Buy
And, the 550 two day point drop and other down days? How'd that work for your equities?The fact is that equities are DOWN since May 20th.You cherry pick the up days which were also low volume except end of quarter and O/E.The facts don't support your thesis.Market is DOWN since mid-May- PERIOD.It's POINTLESS here anyway because this Board isn't interested in FACTS.I wish I hadn't posted it-it won't happen again.
Sentiment: Strong Buy