What say the stock market bears now?

[capeman]

It’s just another five hundred points that have to come off when people realize that the existing home sales data showed the weakness of highend households in resisting foreclosure. Then right under the rally the Fed quietly transferred the Bear Stearns and AIG bad assets to the Treasury in a smelly poop for gold swap.

[davelj]

[quote=Chris Scoreboard Johnston]Just look at a weekly chart of the Cash SP500 it will give you some perspective on this rally, it is in my blog. This bounce does not look like much when you view it that way.

Although I am long the futures on a short term trade, I am looking for a short position entry to setup to reverse my trade. As I state in my blog, I expect this rally to last into May/June, then another sharp down leg to follow. In analyzing the COT report, I do not see anything in there to indicate we have seen the ultimate low yet. There has been some buying but not a large amount.

My opinions on Barry and the interns (Obama and Co. )do not effect how I invest/trade my money. [/quote]

Chris, I agree that we have gotten ahead of ourselves here. But while I was previously thinking we’d head down to 600, now I’m not so sure. I think it’s 60/40 that we hold the recent low, that perhaps that was The Bottom.

Do you think the next leg down will take out the previous low? 600?

What does your voodoo tell you? (To be clear, I only call it voodoo because I don’t understand it – not that it’s not valuable.)

[davelj]

[quote=Chris Scoreboard Johnston]Just look at a weekly chart of the Cash SP500 it will give you some perspective on this rally, it is in my blog. This bounce does not look like much when you view it that way.

Although I am long the futures on a short term trade, I am looking for a short position entry to setup to reverse my trade. As I state in my blog, I expect this rally to last into May/June, then another sharp down leg to follow. In analyzing the COT report, I do not see anything in there to indicate we have seen the ultimate low yet. There has been some buying but not a large amount.

My opinions on Barry and the interns (Obama and Co. )do not effect how I invest/trade my money. [/quote]

Chris, I agree that we have gotten ahead of ourselves here. But while I was previously thinking we’d head down to 600, now I’m not so sure. I think it’s 60/40 that we hold the recent low, that perhaps that was The Bottom.

Do you think the next leg down will take out the previous low? 600?

What does your voodoo tell you? (To be clear, I only call it voodoo because I don’t understand it – not that it’s not valuable.)

[davelj]

[quote=Chris Scoreboard Johnston]Just look at a weekly chart of the Cash SP500 it will give you some perspective on this rally, it is in my blog. This bounce does not look like much when you view it that way.

Although I am long the futures on a short term trade, I am looking for a short position entry to setup to reverse my trade. As I state in my blog, I expect this rally to last into May/June, then another sharp down leg to follow. In analyzing the COT report, I do not see anything in there to indicate we have seen the ultimate low yet. There has been some buying but not a large amount.

My opinions on Barry and the interns (Obama and Co. )do not effect how I invest/trade my money. [/quote]

Chris, I agree that we have gotten ahead of ourselves here. But while I was previously thinking we’d head down to 600, now I’m not so sure. I think it’s 60/40 that we hold the recent low, that perhaps that was The Bottom.

Do you think the next leg down will take out the previous low? 600?

What does your voodoo tell you? (To be clear, I only call it voodoo because I don’t understand it – not that it’s not valuable.)

[davelj]

[quote=Chris Scoreboard Johnston]Just look at a weekly chart of the Cash SP500 it will give you some perspective on this rally, it is in my blog. This bounce does not look like much when you view it that way.

Although I am long the futures on a short term trade, I am looking for a short position entry to setup to reverse my trade. As I state in my blog, I expect this rally to last into May/June, then another sharp down leg to follow. In analyzing the COT report, I do not see anything in there to indicate we have seen the ultimate low yet. There has been some buying but not a large amount.

My opinions on Barry and the interns (Obama and Co. )do not effect how I invest/trade my money. [/quote]

Chris, I agree that we have gotten ahead of ourselves here. But while I was previously thinking we’d head down to 600, now I’m not so sure. I think it’s 60/40 that we hold the recent low, that perhaps that was The Bottom.

Do you think the next leg down will take out the previous low? 600?

What does your voodoo tell you? (To be clear, I only call it voodoo because I don’t understand it – not that it’s not valuable.)

[davelj]

[quote=Chris Scoreboard Johnston]Just look at a weekly chart of the Cash SP500 it will give you some perspective on this rally, it is in my blog. This bounce does not look like much when you view it that way.

Although I am long the futures on a short term trade, I am looking for a short position entry to setup to reverse my trade. As I state in my blog, I expect this rally to last into May/June, then another sharp down leg to follow. In analyzing the COT report, I do not see anything in there to indicate we have seen the ultimate low yet. There has been some buying but not a large amount.

My opinions on Barry and the interns (Obama and Co. )do not effect how I invest/trade my money. [/quote]

Chris, I agree that we have gotten ahead of ourselves here. But while I was previously thinking we’d head down to 600, now I’m not so sure. I think it’s 60/40 that we hold the recent low, that perhaps that was The Bottom.

Do you think the next leg down will take out the previous low? 600?

What does your voodoo tell you? (To be clear, I only call it voodoo because I don’t understand it – not that it’s not valuable.)

[barnaby33]

SRS. Today is a good entry point. This rally has more to go, but only so the shorts can load up again. Nothing has been solved. I liked Chris’s phrase, “Barry and the interns.” Its like Bushonomics, but with a black face.

I think Dean Kunstler said it best in his blog:

If central casting called for a poised, straight-talking, and capable-seeming president, it would be hard to come up with someone better than the Barack Obama who walked and talked around the White House grounds with Steve Croft on “60-Minutes” Sunday night. He may perfectly represent the majority who elected him, though, because he also appears to be in full commanding denial of the realities overtaking our American experience.
Those realities include the fact that we can’t possibly return to the easy credit and no money down “consumer” economy no matter how many nominal dollars get shoveled into the fiery furnaces of banks too-big-to-fail. As Treasury Secretary Geithner’s underling, Stephanie Cutter, said last week, “Our singular focus is on increasing lending to support economic recovery. Everything we do to stabilize the financial system is done with that goal in mind.”

In other words, if you think that was the bottom, sold to you!
Josh

[barnaby33]

SRS. Today is a good entry point. This rally has more to go, but only so the shorts can load up again. Nothing has been solved. I liked Chris’s phrase, “Barry and the interns.” Its like Bushonomics, but with a black face.

I think Dean Kunstler said it best in his blog:

If central casting called for a poised, straight-talking, and capable-seeming president, it would be hard to come up with someone better than the Barack Obama who walked and talked around the White House grounds with Steve Croft on “60-Minutes” Sunday night. He may perfectly represent the majority who elected him, though, because he also appears to be in full commanding denial of the realities overtaking our American experience.
Those realities include the fact that we can’t possibly return to the easy credit and no money down “consumer” economy no matter how many nominal dollars get shoveled into the fiery furnaces of banks too-big-to-fail. As Treasury Secretary Geithner’s underling, Stephanie Cutter, said last week, “Our singular focus is on increasing lending to support economic recovery. Everything we do to stabilize the financial system is done with that goal in mind.”

In other words, if you think that was the bottom, sold to you!
Josh

[barnaby33]

SRS. Today is a good entry point. This rally has more to go, but only so the shorts can load up again. Nothing has been solved. I liked Chris’s phrase, “Barry and the interns.” Its like Bushonomics, but with a black face.

I think Dean Kunstler said it best in his blog:

If central casting called for a poised, straight-talking, and capable-seeming president, it would be hard to come up with someone better than the Barack Obama who walked and talked around the White House grounds with Steve Croft on “60-Minutes” Sunday night. He may perfectly represent the majority who elected him, though, because he also appears to be in full commanding denial of the realities overtaking our American experience.
Those realities include the fact that we can’t possibly return to the easy credit and no money down “consumer” economy no matter how many nominal dollars get shoveled into the fiery furnaces of banks too-big-to-fail. As Treasury Secretary Geithner’s underling, Stephanie Cutter, said last week, “Our singular focus is on increasing lending to support economic recovery. Everything we do to stabilize the financial system is done with that goal in mind.”

In other words, if you think that was the bottom, sold to you!
Josh

[barnaby33]

SRS. Today is a good entry point. This rally has more to go, but only so the shorts can load up again. Nothing has been solved. I liked Chris’s phrase, “Barry and the interns.” Its like Bushonomics, but with a black face.

I think Dean Kunstler said it best in his blog:

If central casting called for a poised, straight-talking, and capable-seeming president, it would be hard to come up with someone better than the Barack Obama who walked and talked around the White House grounds with Steve Croft on “60-Minutes” Sunday night. He may perfectly represent the majority who elected him, though, because he also appears to be in full commanding denial of the realities overtaking our American experience.
Those realities include the fact that we can’t possibly return to the easy credit and no money down “consumer” economy no matter how many nominal dollars get shoveled into the fiery furnaces of banks too-big-to-fail. As Treasury Secretary Geithner’s underling, Stephanie Cutter, said last week, “Our singular focus is on increasing lending to support economic recovery. Everything we do to stabilize the financial system is done with that goal in mind.”

In other words, if you think that was the bottom, sold to you!
Josh

[barnaby33]

SRS. Today is a good entry point. This rally has more to go, but only so the shorts can load up again. Nothing has been solved. I liked Chris’s phrase, “Barry and the interns.” Its like Bushonomics, but with a black face.

I think Dean Kunstler said it best in his blog:

If central casting called for a poised, straight-talking, and capable-seeming president, it would be hard to come up with someone better than the Barack Obama who walked and talked around the White House grounds with Steve Croft on “60-Minutes” Sunday night. He may perfectly represent the majority who elected him, though, because he also appears to be in full commanding denial of the realities overtaking our American experience.
Those realities include the fact that we can’t possibly return to the easy credit and no money down “consumer” economy no matter how many nominal dollars get shoveled into the fiery furnaces of banks too-big-to-fail. As Treasury Secretary Geithner’s underling, Stephanie Cutter, said last week, “Our singular focus is on increasing lending to support economic recovery. Everything we do to stabilize the financial system is done with that goal in mind.”

In other words, if you think that was the bottom, sold to you!
Josh

[paramount]

I’m not an expert, but I’ll comment anyway.

As for this week, anytime the gov’t agrees to give banks another trillion I’m not surprised the market rallies.

Another win for Wall Street, another loss for what’s left of middle America!

There’s been a BS confidence building campaign going on for about 2 weeks now.

Keep buying canned goods….

[paramount]

I’m not an expert, but I’ll comment anyway.

As for this week, anytime the gov’t agrees to give banks another trillion I’m not surprised the market rallies.

Another win for Wall Street, another loss for what’s left of middle America!

There’s been a BS confidence building campaign going on for about 2 weeks now.

Keep buying canned goods….

[paramount]

I’m not an expert, but I’ll comment anyway.

As for this week, anytime the gov’t agrees to give banks another trillion I’m not surprised the market rallies.

Another win for Wall Street, another loss for what’s left of middle America!

There’s been a BS confidence building campaign going on for about 2 weeks now.

Keep buying canned goods….

[paramount]

I’m not an expert, but I’ll comment anyway.

As for this week, anytime the gov’t agrees to give banks another trillion I’m not surprised the market rallies.

Another win for Wall Street, another loss for what’s left of middle America!

There’s been a BS confidence building campaign going on for about 2 weeks now.

Keep buying canned goods….

[Author]

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