There's news today that Abrams wants the release for Star Wars moved up to the summer. That means Disney will be ringing that cash register a lot sooner. With only a few months until summer, let the ramp up in the stock begin now.
Who the hell would sell today with oil down 2% and ALK just having a blow-out quarter? Maybe they were trying to manipulate it, but this is exactly the stock you want to own with oil heading back down to $40 or below. The pop in oil was just one big short covering rally. Shorts are back in control now, it seems.
Buzzsawed. But that's what you get for fighting momentum. That was not the case two weeks ago when shorts had the upperhand and momentum was negative.
How quickly the market changes. That's why you need good quant tools to navigate.
If the Greece news is so great, why is the EUR/USD down? Another negative is lower oil, which had been helping energy co.s the last two weeks. Yet, everything is up, even MCD.
They had to jack it up because the market had hit a pivot point yesterday in the momentum and was poised lower. This 100 pt. pop has corrected that technical weakness. But who is going to put new real fresh money to work up here? The answer is no one.
And everyone sells their gold. Wages up after being down last week? Really? They didn't want the criticism of Obama after he took flak last month.
I don't believe any of it.
If you caught the propaganda articles yesterday from the Misinformation Ministry, Putin now as Asperger Syndrome, which will be part of the U.S. justification for going to war in the Ukraine. It's really laughable because they start with the premise that he has Asperger and then they try to fit Putin's personality traits to that condition. With Saddam the reason given was he was killing his own people so we had to intervene, and now with Putin it will be because he's crazy.
Market was in a death spiral last week because of weak earnings and diving oil. It turns around because oil recovers, and then they pump it back up to get momentum positive again. It's like Groundhog day every day in these markets. Non-existent revenue growth, with stocks like AMZN missing on the top line. Bond market is in denial about Obama adding 7 trillion in debt since taking office. 1.8% on the 10 year with endless money printing and skyrocketing debt. Gotta be effing kidding me
Market was in a death spiral last week because of weak earnings and diving oil. It turns around because oil recovers, and then they pump it back up to get momentum positive again. It's like Groundhog day every day in these markets. Non-existent revenue growth, with stocks like AMZN missing on the top line. Bond market is in denial about Obama adding 7 trillion in debt since taking office. 1.8% on the 10 year with endless money printing and skyrocketing debt. Gotta be effing kidding me.
Fundamentals are screaming buy. There's now more debt around the world than before the financial crisis. Obama has added 7 trillion in U.S. debt since he took office. Greece might soon be kicked out of the Eurozone which will strengthen the EUR and gold and weaken the dollar. China just loosened its reserve requirements for banks. Stock market is artificially high while earnings this quarter have been weak. No way CBs ever raise rates again. The only thing keeping GLD down is oil, which is coming back. More unrest in the Middle East is to come as more nations go after ISIS.
Time to get your short knives out again to stick this pig of a market. Last week's death spiral is a precursor of what is to come. They only rigged it to get momentum positive again, but it can't last, cause there are no real buyers up here.
They're defending support well. Won't be another big down day. But who the hell wants to go long, when it could very well go lower because of negative momentum through the 100 day moving average?
I'd like to go long stocks but the ones I'm watching like ALK and KR have hardly pulled back at all.
Went long when the Dow was up 60. Held short to the second LOD of the day and covered. Then the market spiked and I was happy, only to crumble and my puts would have been worth 3X as much at the close as I sold them for. Can't complaint for taking a profit but would have been better to ride it out short.
If the market couldn't sustain gains after blowout results by AAPL, it's in serious trouble. The mindset should be to sell the pops and cover when the breadth gets around 80% negative on a daily basis. My guess is the market will not go down easy, evidenced by the couple of intervention attempts today, but the direction is inevitably down. Look at the leaders in the DOW - V, GS and IBM - all well below their 20 day MAs now and they account for 20% of the index's weighting.
Market went sell yesterday but they stepped in to prop it. This is the follow through move on high volume.
Earnings coming in bad. A down move could very well have legs.