09/13/2012 Live Update

[Me XMan]

What Uncle Benny said was I'M ALL IN!
Watch market will call him bluffing.

Something must really fu..d up, that Benny did what he did....

[Rezito]

A finish below the highs means they want this thing to gap up. Anyone placing bets on a gap up ?

I think we'll go up until the 18th before a correction and then up until the 25-30th before a top. Again unless I see the market actually going down I wouldn't short.

[TradingJackal]

Romney came out and said BO's policies not work hence the Fed's bazooka.
What if Romney is in...then what?

One more for the road, my prediction for next president of the USA. I think Mr. O will rock on.

Romney is predicted to be the next President. I think the market is pricing him in.
http://www.huffingtonpost.com/2012/08/2 ... 22933.html

I think Obama just bought his next presidency


Market related: buy the dip and dip of every dip! 1600+ is quite possible before "bigger" correction

1600? I think we reach there is a jiffy. I am thinking 2000+ now. $2 billion available to purchase equities every single day the market is open, get this - 'indefinitely'. Draghi has nothing on Ben! Who will short? Who will sell? Financial sector will come out of this looking pristine clean. All the MBS will be cleared off their hands.

US Bonds up, Commodities up, Equity up! Up, Up, Up.

[Petsamo]

I think Obama just bought his next presidency

If Obama wins, I short the crap out of this market.

[Xian]

Romney came out and said BO's policies not work hence the Fed's bazooka.
What if Romney is in...then what?

One more for the road, my prediction for next president of the USA. I think Mr. O will rock on.

Romney is predicted to be the next President. I think the market is pricing him in.
http://www.huffingtonpost.com/2012/08/2 ... 22933.html

I think Obama just bought his next presidency


Market related: buy the dip and dip of every dip! 1600+ is quite possible before "bigger" correction

As I've said several times before, the electoral math has favored Obama. It still does. However, there are still 50 days to go. I don't go in for endzone dancing when I'm standing on the 40. I also don't much care for chest-beating.

Today's action has little do with Obama "buying" a presidency.

People seems to forget that Bernanke is a life-long Republican, like Greenspan before him, and that he was originally appointed by President Bush. It's also common knowledge that Bush only appointed "loyal bushies" to posts (even if they were horse judges).

So strange, some folks can't get their heads around a man actually doing his job (full employment and price stability) without being stupidly partisan about it.

It is true that there are some people left in United States who put country before party, keep their heads down and do their jobs. It's just that there are so few of them left that we can barely recognize them when they come along. Bernanke is such a person. Agree with him or not, he's just doing his job. As hard is it to believe for some, it matters little to him who sits in the oval.

[KeiZai]

Romney came out and said BO's policies not work hence the Fed's bazooka.
What if Romney is in...then what?

One more for the road, my prediction for next president of the USA. I think Mr. O will rock on.

Romney is predicted to be the next President. I think the market is pricing him in.
http://www.huffingtonpost.com/2012/08/2 ... 22933.html

I think Obama just bought his next presidency


Market related: buy the dip and dip of every dip! 1600+ is quite possible before "bigger" correction

1600? I think we reach there is a jiffy. I am thinking 2000+ now. $2 billion available to purchase equities every single day the market is open, get this - 'indefinitely'. Draghi has nothing on Ben! Who will short? Who will sell? Financial sector will come out of this looking pristine clean. All the MBS will be cleared off their hands.

US Bonds up, Commodities up, Equity up! Up, Up, Up.

read carefully lol ...- before "bigger" correction ...I have monthly squeezes all over the place, if they fire it can last for years and then new bull market is born
Based on cyclical models we have to spend 2 more years in this range but u know this time should be different ...GL bud!

just 2 of them

[MrMiyagi]

[OverUnder]

Applause. Can you please post that all over the internet, stupid people need to get smarter.

Romney came out and said BO's policies not work hence the Fed's bazooka.
What if Romney is in...then what?

One more for the road, my prediction for next president of the USA. I think Mr. O will rock on.

Romney is predicted to be the next President. I think the market is pricing him in.
http://www.huffingtonpost.com/2012/08/2 ... 22933.html

I think Obama just bought his next presidency


Market related: buy the dip and dip of every dip! 1600+ is quite possible before "bigger" correction

As I've said several times before, the electoral math has favored Obama. It still does. However, there are still 50 days to go. I don't go in for endzone dancing when I'm standing on the 40. I also don't much care for chest-beating.

Today's action has little do with Obama "buying" a presidency.

People seems to forget that Bernanke is a life-long Republican, like Greenspan before him, and that he was originally appointed by President Bush. It's also common knowledge that Bush only appointed "loyal bushies" to posts (even if they were horse judges).

So strange, some folks can't get their heads around a man actually doing his job (full employment and price stability) without being stupidly partisan about it.

It is true that there are some people left in United States who put country before party, keep their heads down and do their jobs. It's just that there are so few of them left that we can barely recognize them when they come along. Bernanke is such a person. Agree with him or not, he's just doing his job. As hard is it to believe for some, it matters little to him who sits in the oval.

[rc1269]

Nothing is dangerously overbought or oversold... Crazy!
Expect more up from here

SPX closed the highest above the upper bollinger band (121%) since this bull market started in 2009. it's actually the highest breach since the start of 2006. that seems pretty overbought to me

[737controller]

watching the same thing on marketwatch and it has done that 4 times in last hour

[KeiZai]

Hey guys, is somebody from Texas here?

Is this a good company? - First Financial Bankshares Inc.

Looking to buy some shares after breakout and recommendation would be appreciated

[737controller]

IWM same thing down 1.3

[TradingJackal]

read carefully lol ...- before "bigger" correction ...I have monthly squeezes all over the place, if they fire it can last for years and then new bull market is born
Based on cyclical models we have to spend 2 more years in this range but u know this time should be different ...GL bud!

just 2 of them

FTSEx.png

AUDJPYx.png

The "bigger correction" That is funny.

On a serious note, I would be obliged if you can share some info on the cyclical models. You see, I did get out of my long term equities a month ago. Today's announcement breaks every 'super bear' model's back. We are not going to 600, not even 1000, heck I would be happy if we dip below 1400 so I can get back in again at the place where I left.

From EWT perspective, the Ending Diagonal has now become a series of 1,2,1,2s which means a really bullish 3 when it fires. Ben lit the match today. On much smaller timeframes, I have seen such 3s to be twice or more of 1. Assuming 3 as twice of 1 and 1 being about 550 points, we get 3 at 1010+1100 = 2110 And that is just 3 with a little lull in 4 and then 5 to that much as beyond. These number may look unrealistic, even lunatic, but are there many here who, in March 2009, thought we would be up 800 points in 3 years? To reach 2110 it is only 650 points that we can easily traverse in a couple of years now that everyone knows the power of Ben's put.

[OverUnder]

Well, we've been reading every day, many times a day, for a couple of months now, about how the market is overbought. How is this time different.

Nothing is dangerously overbought or oversold... Crazy!
Expect more up from here

SPX closed the highest above the upper bollinger band (121%) since this bull market started in 2009. it's actually the highest breach since the start of 2006. that seems pretty overbought to me

[KeiZai]

Romney came out and said BO's policies not work hence the Fed's bazooka.
What if Romney is in...then what?

One more for the road, my prediction for next president of the USA. I think Mr. O will rock on.

Romney is predicted to be the next President. I think the market is pricing him in.
http://www.huffingtonpost.com/2012/08/2 ... 22933.html

I think Obama just bought his next presidency


Market related: buy the dip and dip of every dip! 1600+ is quite possible before "bigger" correction

As I've said several times before, the electoral math has favored Obama. It still does. However, there are still 50 days to go. I don't go in for endzone dancing when I'm standing on the 40. I also don't much care for chest-beating.

Today's action has little do with Obama "buying" a presidency.

People seems to forget that Bernanke is a life-long Republican, like Greenspan before him, and that he was originally appointed by President Bush. It's also common knowledge that Bush only appointed "loyal bushies" to posts (even if they were horse judges).

So strange, some folks can't get their heads around a man actually doing his job (full employment and price stability) without being stupidly partisan about it.

It is true that there are some people left in United States who put country before party, keep their heads down and do their jobs. It's just that there are so few of them left that we can barely recognize them when they come along. Bernanke is such a person. Agree with him or not, he's just doing his job. As hard is it to believe for some, it matters little to him who sits in the oval.

Truly I don´t care who will win, he (whoever wins) will not be my president...Just thinking this will help him no matter who said "do it"...I have nothing more to add to this topic

[TradingJackal]

What Uncle Benny said was I'M ALL IN!
Watch market will call him bluffing.

Something must really fu..d up, that Benny did what he did....

Dude, no disrespect, but Ben does not bluff. He is no Draghi. He did not even have to use the word indefinitely. His language is careful. It is about the goal he trying to achieve. QE is just one tool. He is the 2nd most powerful man in the world and does more than he says. BTW, he is not all in. There is plenty more where this came from. There will always be roadkill and subjective interpretations but you are either with him or your skin in hanging in the corridors of his office Bear blogs will be a fun read tonight.

[rc1269]

Well, we've been reading every day, many times a day, for a couple of months now, about how the market is overbought. How is this time different.

Nothing is dangerously overbought or oversold... Crazy!
Expect more up from here

SPX closed the highest above the upper bollinger band (121%) since this bull market started in 2009. it's actually the highest breach since the start of 2006. that seems pretty overbought to me

well, aside from the singular statistic i just presented? that's different. since it didn't exist any of the other times folks (not me) were saying the market was overbought. if you re-read my posts over the last month you'll see i was not one of the 'overbought' folks. but for a trade, i think we give back about 20-40 pts. cheers

[rc1269]

I think Obama just bought his next presidency

If Obama wins, I short the crap out of this market.

that didn't work very well last time.

[MrMiyagi]

I'm sure it's just yanking my chain...

[TradingJackal]

I'm sure it's just yanking my chain...

That is an excellent chart Mr. Miyagi. Can you share the 'print' link from StockCharts so it can be bookmarked (maybe with SPY on a bottom panel)? I can see this chart has well formed reversals. Would be an awesome tool in making decisions on long term type of stuff.