Equity markewent way overbought to the extreme (fear of missing on the upside?).
Bernankewill be the excuse for the correction.
How much lower S&P50? Back to 50-day moving average, or to 1600.
However, overbought can result in oversold, too.
I would like to see SPXU to 25; SPXU will then be at 1605.
Maybe this time patience rewards SPXU.
Institutions dump, invidviuals follow; again buy high, sell low.
GLTA
For 5/23/13 SPXU range 23-24 IMO.
smells like SLV goes less than 20 in a couple of weeks if not this week.
SLV 15-18 range to nibble.
SLV to single digits likely only if mass selling like GLD to less than 1000
Panic selling AGNC to under 28.50 - institutions first to do the mass buy/sell while the individual just the tail that wags the dog. 28.14 feels like the lows test and held (for now).
Either follow the leader, or get bold and do the opposite, sit back and pray for the bounce.
Before ex-divy 6/xx/13 my guess is AGNC back to 31-32 range; But unlikely 34-36.
Key is if $1.25 dividend not reduced.
Many feel management will like to have it stay at $1.25.
Time to bottom fish SLV...my guess it will hold above 21.00.
Dead-cat bounce likely when SLV near 52-week lows.
For those that predicted SLV going to 48-50: doesn't appear to happen in 2013.
When QE ends, SLV should reverse its downward spiral.
GLTA long and shorts
IDCC been in a trading range a long time; finally popped higher.
Set up since revenue and earningss set too low?
Next issue: how much hgiher IDCC before the reversal: 50 to 55 or higher?
I see you also into IGT - same type of trading pattern before it makes 52-week highs.
Pays to sit back and wait, no? (Rising tide lifts all boats) - lol
All the hype saying S&P500 to the sky, to double or triple from present prices, to attract new investors.
S&P500 already going parabolic like silver, until the correction finally hits.
The smart money not chasing, but waiting for a pullback.
SPXU more likely to see 25-26 first instead of under 22.xx IMO.
Think risk/reward.
GLTA
Forward earning revision has killed CHRW; each day since lower close.
On the positive side, good day trade with the wild swings.
However, the return to over 60 will be long; might see 50 first.
YIKES!
anyone out here buys SPXU dollar-cost average on lower prices?
I was wondering if the S&P500 will continue to make news highs every day.
Been using SPXU as a insurance.
Last 3 days hasn't worked until today when you least expect market to correct
Will like to see IGT over 20 sometime before 12/31/13.
Been holding this since 2008 peak over 30, more shares at 12-14.
Moving target as earnings, new products, better ecnomy, and stock market doesn't go lower.
In hindsight, should have bought some BYI.
Patience win out (hopefully).
What's your sell price target for a profit?
Will PTRY cross 15 soon? Like before 9/30/13?
Company potential for changes to increase shareholder valvue?
Thanks to all...now to do the research and cherry pick.
Glad I limited my exposure to LINE in my IRA; taking profits along the way and not being too greedy.
The fear I had is indeed a spike down and will stay down like BPT (YIKES!)
Please provde company names for steady income (exclude mREIT).
Comments welcome for KMP and EPD.
LINE has too many wild swings that only day traders appears to know when to buy/sell
GLTA
Diversity - to prevent surprised downside which can happen when earnings come out.
AMTG has been on a roll near its 52-week highs. Got this from a blogger on the AGNC message board. REM is also like a ETF.
You'll get days all mREIT will go up/down.
GLTA
Seeking Alpha has IGT going to 19.xx before resistance.
If overall market higher, rising tide lift all boats?
I would like to see if IGT has legs to set 20 as the floor.
Will be a challenge, with many resistance.
will kill any stock - charts won't help.
Jury still out if this is the case with LINE or Barron's article for shorts.
For Barron to do 2 articles in 3 months, there is no letup.
LINE makes new 52-week low.
Will have to see if there is a V-bounce, or can hold above 34.
For the dude that says good time to buy - he/she has to have a target price to sell.
Wished he/she would have stuck his/her neck out to provide this price.
LINE could have a wide trade range of 33 to 36 next couple of days with ex-divy tomorrow.
Warning sign that LINE could not go over 40 - not good.
Assume for argument sake, rumor says IDCC gets gobbled.
What's a reasonable price for the sale?
Last year had projections like $85-$120; however, no bids.
My guess is 65-75...lowball it.
I'll be happier to see IDCC make 50 the floor for the rest of the year.
GLTA long and shorts.
Money on the sidelines (like myself) watching if SLV will stay above 20.
Just wondering what news event will make SLV spike down 14% from 23.29 to 20.
Can't think of any; therefore SLV should trade sideways for awhile, say 22-25?
The day SLV returns to 48-50 might be another 30 years - who has time to wait for that to happen?
Father time gets everybody, no?
When will it be time to finally buy SLV (if you can call the bottom)?
Is it still to the teens 14-16?
How long will it take to get there?
The next obvious question after buying SLV is the rise before the reversal.
A dividend cut most likely and should be at least $1/share (AGNC and MTGE has tried to maintain dividend while others have cut).
Wathc if AGNC can hold above 28.50; peak only to 32.00
Everyone knew AGNC stock price was not going to stay above 95% of its peak price.
GLTA