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16 comments:
Did you ever hear from our DISMALLY.COM guy?
I did not hear back. I emailed on 7/28 to his dismally.com address.
Until employment is strong people will keep spending, and the market will stay intact or at least sideways. The average Joe has no idea of dangers, so they will keep paying the minimum on their credit cards and keep buying. The FED IMHO has a tricky way of making the numbers look one way or another.
Thanks for the info on DISMALLY, the blog, and the firefighting. My wife's brother was a firefighter, but he died at only 29 years old while fighting a fire. This happened in Petersburg, VA on March 19, 1982. I pray for both you and your wife's safety and thanks for your sacrifice.
Mrmockbird
Andy, do you mean as long as employment is strong? Not trying to bust you hump, just want to understand what you are saying.
Frankly I am not sure that even a crisis in our financial system would alter credit-use behavior.
People will probably always spend more than they make.
IRT fire fighting, thank you. I am guessing your brother in law was a structure fire fighter which is a whole different kettle of fish.
while there is some risk to wildland to be sure but we are outside and can simply run away if things get too dicey but thank you again for your kind thoughts.
Sorry Roger, the verbal part of my SAT was not the strongest. I guess thats what happens when you grow up in a house where your parents are (legal) immigrants.
I agree that people will always spend more than they make, but I think their is a noticeable difference when someone is unemployed, as they may not frequent SBUX as often.
Has anyone seen the price of Milk latley...gosh almighty...I have three young kids and we may have to get a cow to compensate for the $4.50/gal milk.
Today looks like a case of smart money dumping on the rally. VIX at 22+
Claymore has a dividend capture ETF in registration; “Claymore/Zacks Dividend Capture ETF”.
The Edgar registration can be found here:
http://tinyurl.com/2g28wa
Scroll down to page 20 for details.
lol
i spent half the day nibbling both ways in the miniDOW then started serious shorting towards the close
just as we were getting to the low Sept. basis of 13290 i saw what had to be the plunge protection team put up a unheard of inside bid of 695 lots for that rather thin market and i was okay that enough shorting thank you
looks like the bears took that out too
now PPT got a 690 outside bid at 13275 blown away
then another 550 bid destroyed
wow
lol
peace
finally the market found a bottom
and the bounce
ugly stuff before that
the market is so manipulated its not funny
gamed for the buy and hold crowd's peace of mind actually
Read all about the “Plunge Protection Team” from Bloomberg, find the article here:
http://tinyurl.com/2b2mo9
"....Never argue the tape"
-Livermore
I for one will raise some cash here, as I can see the DOW heading to 50% retracement on continued heavy volume.
So a guy named "Dr Doom" is telling us that odds are favorable for a crash. What a stretch. If you want to read stuff like this Fleckenstein over at MSN posts doom and gloom on a regular basis. Of course, a sustained downtrend should never, ever be ruled out, but why not act on price action instead of pointless prediction?
I remember slurs being thrown at Hussman on this blog a couple of weeks ago. Maybe we should all go back and read some of this mans very insightful comments. You have this brilliant guy giving you lots of great advice for free about the market having been overvalued.
I would suggest you read his comments with an open mind. I made a bundle in foreign stocks in the last 13 months so I am not a permabear, not totally risk adverse, and I am not a gold bug. Do you and your portfolios a favor at least read what he has to say.
I bought put contracts last week to cover my entire portfolio and have actually saved myself over 40,000 in losses so far. Thank you Roger for this help.
BVida
My timing model is now at 2.0, or signaling 90% long. Note, if the 5dma falls below the 200dma of either the value line or Russell 3000 the model will lose points.
tomk, your timing model is off. You are losing big money if you are still holding longs now.
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