Friday, October 16, 2009
Anyone remember this chart
I posted this chart earlier this year anyone remember it. Seem to be doing exactly what it says so far.
S&P 500 UPDATE
Just got a number higher @ 1103/4 hmmm. I wonder if we close this gap today will be interesting to see if it does but I am not betting on it, just know I am getting a projection of 1103/4 as of now
OK Folks
Ok folks the talking heads claim we are out of the woods but this morning GE, BAC, Haliburton and Sony had much weaker earnings. So I ask where is the recovery???
Bank of America I knew without doing any work they were going to miss earnings why, because I saw a headline earlier this week that they were going to charge yearly fees on their credit cards. That showed me if they needed to do such, definitely meant they would have unexpected weaker earnings in some parts of their business. Now one very very important thing I heard this morning with the GE earnings was that GE will be covering it financial arm losses for 5 years instead of the 3 years previously announced. Now what does that means? means they think the financial segment of their business is much weaker that previously analyzed, simple.
Now where does that leave us. I fear that the FED will be in our business for a longer time with these 2 financial giants showing weakness on their books but then we ask the question for how long and can the FED keep us low on interest rates without causing another bubble somewhere else. I dont know but what I know is that this system of the FED will continually cause bubbles and bust till be get rid of it.
Mattel the toy maker showed sales decline and any idiots can see christmas will not be good for the retailers again.
I have alot I could comment on with the FED etc but I dont want to get hate mail like I did once so I will keep my opinions to myself.
Have a great weekend.
MARKETJEDI
Bank of America I knew without doing any work they were going to miss earnings why, because I saw a headline earlier this week that they were going to charge yearly fees on their credit cards. That showed me if they needed to do such, definitely meant they would have unexpected weaker earnings in some parts of their business. Now one very very important thing I heard this morning with the GE earnings was that GE will be covering it financial arm losses for 5 years instead of the 3 years previously announced. Now what does that means? means they think the financial segment of their business is much weaker that previously analyzed, simple.
Now where does that leave us. I fear that the FED will be in our business for a longer time with these 2 financial giants showing weakness on their books but then we ask the question for how long and can the FED keep us low on interest rates without causing another bubble somewhere else. I dont know but what I know is that this system of the FED will continually cause bubbles and bust till be get rid of it.
Mattel the toy maker showed sales decline and any idiots can see christmas will not be good for the retailers again.
I have alot I could comment on with the FED etc but I dont want to get hate mail like I did once so I will keep my opinions to myself.
Have a great weekend.
MARKETJEDI
Crude
There was an upside explosion in the crude pits yesterday. Range was a nice $3.18 on above average volume.
I'm not entirely sure whether we came out of a triangle or not. It really doesn't matter, and we wont really know until down the road.
What does matter is price action has been impulsive off the 68.88 L. We either ended [e] or likely [2] there.
I'm still expecting price to reach the 79.42 target area. I would like to think that we could accomplish that in short order, but nothing goes straight up. We are due a retrace.
If minor B is indeed complete, the minimum upside objective is 83.54. This is where C = 61.8% of A. C = A around 100.
We also have the 38.2% retracement of the all-time high in the same area.
Subscribe to:
Posts (Atom)
