Tuesday, May 20, 2008
Just on Fire!!!!!!!!!!!!
How is Citbank doing???
How is FNM doing?????
How is SKF doing?????
ONLY WINNERS!!!!!!!!!!
How is FNM doing?????
How is SKF doing?????
ONLY WINNERS!!!!!!!!!!
CPI OUT
Two weeks ago I wrote that I truly believe the FED can't lower rates anymore. This might be happening right now with the CPI numbers just out. Numbers showed that pricing are going up faster than expected geeez, we didn't need to wait for these numbers to come out to know that, we the public are been hurting for months with rising fuel and food prices.
The FED is in a hard spot and this is why I believe so strongly the market longer term is in a bear market because the FED has no more ammunition in its arsenal to stop a prolong downturn. We will see soon enough
The FED is in a hard spot and this is why I believe so strongly the market longer term is in a bear market because the FED has no more ammunition in its arsenal to stop a prolong downturn. We will see soon enough
On Fire!!!!!
BLOG is on FIRE!!!!. CAT and SLB yesterday were monster plays. Also analysis of a pullback was in full force as we ramped up and hit resistance and we totally sold off. This morning we have the futures down and the pullback should continue.
Financials please stay away from them. GS, MER, C , FNM are all looking weak here. I wouldn't buy them even if it was free money. Lets stay light here as I believe they want to shake us either way but I am leaning lower as we are overbought here.
Financials please stay away from them. GS, MER, C , FNM are all looking weak here. I wouldn't buy them even if it was free money. Lets stay light here as I believe they want to shake us either way but I am leaning lower as we are overbought here.
Monday, May 19, 2008
Start of Week
I didn't do any analysis this weekend as I was busy. Just a few things to note.
Oil making new highs again.
Gold broke higher out of the bear flag. Now looks higher.
Volume has been anemic over the past week.
I am very cautious here and I am thinking the most likely situation is for us to pull back this week. Look for the higher flyers like BIDU, AAPL, GS, MER to set the tone in a pullback is we do.
Also SLB and CAT both have nice bullish patterns on the charts
Oil making new highs again.
Gold broke higher out of the bear flag. Now looks higher.
Volume has been anemic over the past week.
I am very cautious here and I am thinking the most likely situation is for us to pull back this week. Look for the higher flyers like BIDU, AAPL, GS, MER to set the tone in a pullback is we do.
Also SLB and CAT both have nice bullish patterns on the charts
Friday, May 16, 2008
Morning
Goldman Sachs this morning press release on Oil was no surprise. Goldman is calling for average Oil prices to be at $141 a barrel in the second 1/2 of the year. Already Oil is up almost $3 on that news, what else is new. Oil I said before was going to $138 short term but I guess Goldman thinks we got higher than that to go.
What will this do? Well forget about ever paying $2 area for gas at the pump. The new floor will soon be $4, with average prices in the mid 4 to $5 area.
For today I expect us to get alot of movement in the first 90 minutes who knows what we do after. It would be unusual to get two strong back to back days, so I expect us to retreat alittle or be flat today.
Watch for pin action today. DRYS pinning to $110, GS pinning to $185, $190
What will this do? Well forget about ever paying $2 area for gas at the pump. The new floor will soon be $4, with average prices in the mid 4 to $5 area.
For today I expect us to get alot of movement in the first 90 minutes who knows what we do after. It would be unusual to get two strong back to back days, so I expect us to retreat alittle or be flat today.
Watch for pin action today. DRYS pinning to $110, GS pinning to $185, $190
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