Stock Market for April 2009

[Croaker]

Market set to open lower today.  G-20 getting ready to go into high gear. LOL  This week could be interesting.

[pinetree]

This must be the sell the news rally....

Or maybe not.  

I'm totally off base right now... not trying to trade it either way.

[Peter518]

Today, it seems financials lead the market recover from the sharp loss at the open.  Yesterday, while the market was falling at the last 30 min, financials performed much stronger.  Amybe tomorrow's M2M meeting has some effect on the financials?

All the best.

[Bottomfeeder]

Well guys....I sold 75% of my FAS at 5.95....just had to to manage risk, since it seems that I have been buying near tops.  It is also above its 10SMA, sell zone.  I will look to get my bearings straight and re-enter at lower levels.  Still playing for S&P 900 as my look forward here.

Still think MTM will provide a push higher, but with the gap down and big move up, hey, dont want to be climbing out of any deep holes again this month.

GLTA

[pinetree]

I was wondering if you'd have the stomach to stay with your FAS through that ugly gap.  Nice one!  Question... when you use 10sma as a sell zone, what timeframe are you referring to?

3j, looks like no channel resolutions for SPX 780-815 yet, we got up to 810 yesterday and down to 783 today.  XLF has got up to 9.12 so far today, still below it's upper limit.

[Peter518]

I also got out of my FAS position at $5.9, though a little early, but profit is a profit in this volatile market!

There has been over 200 pt change recently!  Maybe that is a bottom finding process.

Well guys....I sold 75% of my FAS at 5.95....just had to to manage risk, since it seems that I have been buying near tops.  It is also above its 10SMA, sell zone.  I will look to get my bearings straight and re-enter at lower levels.  Still playing for S&P 900 as my look forward here.

Still think MTM will provide a push higher, but with the gap down and big move up, hey, dont want to be climbing out of any deep holes again this month.

GLTA

[Bottomfeeder]

You know Pinetree....the more I do this the more I realize that I use all different kinds of technicals, and hopefully you can continue to get confirmations at the more things you look at.

Yesterday was a mistake, because I failed to use multiple soures to confirm.  Today I used the SMA10 on a 10 minute chart, which was above, also the 1 month, daily, which showed it was at resistance, and the 5 minute momentum indicator which which showed a double top, that looked like it was beginning its decent.

I do think there is upside still here, and I may get in at a higher price, but I want to do so on another quick upside move.  There are still two news events out there to drive things higher MTM, and IMHO the quarterly reports, which depending on MTM rules could provide a real nice pop for the banks.

It is touch and go though, and I will have to do an awful lot better than I did on these last two entries and exits to make money.

Good Luck and thanks for the encouragement.

Good Job Peter!

[Bottomfeeder]

I just did some looking around and see that the FASB meeting tomorrow is at 8am EST, before the market opens....great. 

That would indicate to me that we are looking at another gap opening tomorrw, I have no idea whether that will be up or down, because, well WTFDIK, and the day isn't done.

You guys have any thoughts around this from a market timing perspective?  Sell the news happens when?  I am kind of thinking buy in the after market and sell pre market or in the first hour.

[yellowcaked]

And if so, who does it belong to...?

http://www.foxnews.com/video2/video08.html?maven_referralObject=4095755&maven_referralPlaylistId=&sRevUrl=http://www.foxnews.com/americasnewsroom/index.html

[yellowcaked]

Chinese Electric Car Start-Up Embarrasses American Automakers

And they are building Nuclear reactors at a feverish pace to supply the electricity for them...

http://www.businessinsider.com/2009/1/chinese-electric-car-start-up-embarrasses-american-automakers

[jjj000]

Chinese Electric Car Start-Up Embarrasses American Automakers

And they are building Nuclear reactors at a feverish pace to supply the electricity for them...

http://www.businessinsider.com/2009/1/chinese-electric-car-start-up-embarrasses-american-automakers

At least someone has the right idea 


============

Market today... I think it's telling that we shed 742K jobs last month and the market rallied on the news.

What that tells, I don't know, but I think it's telling of something

Maybe telling of one last push before a sell off.  Or telling of careless bullishness in the market.

I think S&P resistance at 815 holds the answer.

[yellowcaked]

I have been sitting here wondering the same sort of things the last couple of days.  Actually began wondering about this during the rally run up.

There is no good news and yet we are going higher.  If anything there is worse news.  They even revised the February jobs report up 9K to 707k jobs lost.  That's nearly 1.5 million jobs lost in the last two months.

Car sales had a terrible report today...

Is the market naively desensitized to bad news in the hope that printing money to get out of the world's crisis is going to make things better or is it based on hope that MTM will be lifted and suckers will fall in line to buy those toxic assets?

Thanks for everyone's views, in advance.   

[Peter518]

Today there are tow bear traps, especially the one at 3:00 pm, when people expect a sell-off like yesterday.  Yesterday's sell off. especially after hours, was probably due to 1Q window-dressing.  Today's holding up may be due to the M2M news tomorrow.  Some speculators expect there will be a run-up due to the M2M news, and possibly a sell off after the news tomorrow.

 

[sunseeker]

Hi YC

Have you read this?
If not I know that you will find it very interesting.

http://www.gold-eagle.com/editorials_08/butler040109.html

and listened to this link in the article.

www.youtube.com/watch?v=FywT-txGuss

Trust the COMEX? I don't think so.

Good night catch you tomorrow.
ATB

[yellowcaked]

I had read half of it, but did not know about the letter dated 3/30.  Thanks.

I have zero trust in the COMEX.

Hi YC

Have you read this?
If not I know that you will find it very interesting.

http://www.gold-eagle.com/editorials_08/butler040109.html

and listened to this link in the article.

www.youtube.com/watch?v=FywT-txGuss

Trust the COMEX? I don't think so.

Good night catch you tomorrow.
ATB