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Post by merrillstanley on Mar 9, 2010 12:41:56 GMT -5
sorry elle, had to...like you, trying to catch-up to UK/Wiley in posts
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Post by merrillstanley on Mar 9, 2010 12:43:53 GMT -5
re: C
According to the RSI which is currently at 72.59% and above the critical level of 70, C is overbought. While a stock that is overbought may continue to rally, investors should be especially careful when C begins to lose strength and RSI dips below 70.
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Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Mar 9, 2010 12:48:34 GMT -5
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Post by merrillstanley on Mar 9, 2010 12:50:14 GMT -5
cnbc folks speaking on volume; fund managers confused, unsure of market direction, hence light volume
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Post by ukarlewitz on Mar 9, 2010 12:58:05 GMT -5
Breadth (vol) 3:1 NQ and NY. Issues <2:1.
At some point, shorting Vxx is going to be awesome. Right now we are in a percocet market.
I have a 2008 Prius and never once had a problem. We drove it to Utah/CO and back -3k miles in 2 wks - in 110F heat fully ladden with camping equipment, without a single hitch. Very strange.
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Post by merrillstanley on Mar 9, 2010 13:01:05 GMT -5
everyone is becoming a bull...cause for alarm?
more new HODs
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Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Mar 9, 2010 13:02:38 GMT -5
Ah perfect - it's kill-the-dollar time. The drop in X has been completely wiped away. No timber for me Capitulation meter 9.6/10, it's crazy to short this market Rob just shorted the Euro at $136.00
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Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Mar 9, 2010 13:04:13 GMT -5
Holy crap DRV is in single digits.
Capitulation meter 9.7/10
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Post by ukarlewitz on Mar 9, 2010 13:04:48 GMT -5
sorry elle, had to...like you, trying to catch-up to UK/Wiley in posts Good luck with that. Let's get gap fill over with. If we fail to fill all the way to 115.14, then (dramatic music) we will have a lower high. (And will probably fill tomorrow anyways).
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Post by drtracyb on Mar 9, 2010 13:07:58 GMT -5
I got stuck,too - let me know what he says! DrT, actually looks like we're putting in a good rounded bottom (no juvenile comments, boys) Sorry, I think we already gave them permission: A Hanging Man with a white Real Body I think I need one of those.
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Post by merrillstanley on Mar 9, 2010 13:11:13 GMT -5
A stronger dollar weighed on stocks in the early going, such that another lackluster session looked to be in order. However, financial and tech stocks have since lifted to broader market to a healthy gain.
Stocks started the session on soft footing. Headlines failed to entice buyers back into action after they sat out the prior session to watch recent gains consolidate. A stronger dollar also dampened the tone of early trade; the buck had been up roughly 0.4% against competing currencies in the early going. It has since eased back to trade with a 0.2% gain.
The dollar's initial strength came at the cost of the euro and the pound after analysts at Fitch kept a Negative outlook in place for Portugal's AA rating following the country's new austerity measures, which were announced Monday, and the analysts' belief that Britain's plan to halve its deficit in four years is too slow.
Financials have emerged as a source of support for the stock market. The sector was down as much as 0.8% early on, but it has since bounded to a 0.7% gain.
Tech has also emerged with strength. The sector is up 1.0%, second only to telecom (+1.5%). Strength among large-cap tech issues like Apple (AAPL 224.41, +5.33) and telecom service providers like AT&T (T 25.65, +0.37) has been linked to news that Cisco (CSCO 26.28, +0.15) has unveiled plans for a new router, which some expect will augment content delivery and, in turn, content development.
Texas Instruments (TXN 24.24, -0.45) has failed to share in the strength of the tech sector, even though the company improved its earnings outlook. The forecast remains in in-line with that of Wall Street, though.
In other corporate news, Northrop Grumman (NOC 64.14, -0.02) will drop out of a protracted quest to win a $40 billion contract to build next generation refueling planes. That has been beneficial to shares of Boeing (BA 68.25, +1.01).
Just released, a $40 billion auction of 3-year Notes attracted a bid-to-cover of 3.1, which is well above the recent average of 2.9. Indirect bidders represented 51.8%, which is on par with the recent average of 52%. DJ30 +53.81 NASDAQ +18.66 SP500 +6.06 NASDAQ Adv/Vol/Dec 1574/1.33 bln/997 NYSE Adv/Vol/Dec 1894/484 mln/1084
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Post by merrillstanley on Mar 9, 2010 13:12:15 GMT -5
Midday global & sector ETF view (FAA) : Actively Traded Leading Global & Sector ETF Plays: US airlines- FAA +2.75%, iShares Brazil- EWZ +1.50%, iShares telecom- IYZ +1.50%, iShares transports- IYT +1.50%, Biotech- XBI +1.25%, IBB +0.75%, iShares Australia- EWA +1.25%, iShares REITS & real estate- ICF +1.25%, IYR +1.0%, SPDRS oil & gas exploration & prod- XOP +1.0%, Latin America- ILF +1.0%, Aerospace & defense- PPA +1.0%
Actively Traded Lagging Global & Sector ETF Plays: Sola power- TAN -0.75%, Ag commods- DBA -0.75%, RBOB gas- UGA -0.50%, Commods- DBC -0.50%, GSG -0.25%, Heating oil- UHN -0.50%, Pound/Sterling currency shares- FXB -0.50%, nat gas- UNG -0.50%, VIX vol index- VXX -0.50%, Euro currency shares- FXE -0.25%
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Post by ukarlewitz on Mar 9, 2010 13:14:53 GMT -5
With many banks back above their 200dma, you'd have to give good odds to MS cracking through here shortly. It's failed twice. Congrats to C holders. Patience pays. My cynical side says that if crap like C can rally, we must be near a top. LVS is the one that has me speechless today. It still needs to confirm the break above the Jan highs tomorrow. Then there's the Sept top just above.
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Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Mar 9, 2010 13:22:41 GMT -5
UK might as well add some AIG while you're rounding out the portfolio
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Post by ukarlewitz on Mar 9, 2010 13:22:50 GMT -5
Carl F update: Long story short, we are at the top of the box and the channel and at a double top. We'll fall to 1125-30 and then rally higher.
Kudos to Carl. He nailed this one from the low. Very impressive. And he's free. This scenario he is outlining has to be on everyone's mind - therefore, does it fail (expect the unexpected) or does it fulfill precisely because everyone is in the same mental state? In which case, would we not fail to actually make a complete gap fill and make a dreaded lower high? We will soon find out.
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Post by ukarlewitz on Mar 9, 2010 13:28:52 GMT -5
UUP - 1.8m shares; yesterday, 4.2m. The sell off intraday has been on vapors.
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Post by ukarlewitz on Mar 9, 2010 13:32:37 GMT -5
EEM - very impressive outside day formation. Bullish. 41.6-42.0 will be firm R. If you are bearish, this would be the place to add EDZ.
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Post by jack on Mar 9, 2010 13:33:10 GMT -5
With many banks back above their 200dma, you'd have to give good odds to MS cracking through here shortly. It's failed twice. Congrats to C holders. Patience pays. My cynical side says that if crap like C can rally, we must be near a top. LVS is the one that has me speechless today. It still needs to confirm the break above the Jan highs tomorrow. Then there's the Sept top just above. I wish that you wouldn't hurt my C's feelings like that Uk!
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Post by abdogman on Mar 9, 2010 13:36:43 GMT -5
Xlf...an attempt to move up thru R3 at 15.39 was made 4 min ago on volume but was turned back
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Post by merrillstanley on Mar 9, 2010 13:36:47 GMT -5
UK, just received my IPath VXX prospectus...friggin' worse than any compliance manual I've ever read
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Post by merrillstanley on Mar 9, 2010 13:37:26 GMT -5
Small-cap stocks have run up to a 0.9% gain, as measured by the Russell 2000. That puts them comfortably ahead of the broader market.
Force Protection (FRPT 6.31, +0.83) is a primary leader among small-cap issues after the defense company announced better-than-expected results for its latest quarter.
Meanwhile, the greenback continues to pull back from its morning high. It is now up just 0.1% against a basket of foreign currencies. DJ30 +53.73 NASDAQ +20.21 SP500 +6.58 NASDAQ Adv/Vol/Dec 1600/1.45 bln/986 NYSE Adv/Vol/Dec 1973/527 mln/1023
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Post by merrillstanley on Mar 9, 2010 13:40:39 GMT -5
CNBC Grasso - bullish 1125...sticky 1145-1150...calling for 1200...next key levels...lack of volume not a negative, late arrivers will push S&P to 1200...jobless claims thurs, retail sales fri
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Post by merrillstanley on Mar 9, 2010 13:51:35 GMT -5
I should have been a fire man....
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Post by elle on Mar 9, 2010 13:57:02 GMT -5
merrill (psst, over here) I dare ya - go pull the file alarm
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Post by elle on Mar 9, 2010 13:59:27 GMT -5
unh huh, unh huh, Uka, lookey, lookey
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Post by merrillstanley on Mar 9, 2010 14:00:24 GMT -5
can't elle, i'm already on double secret probation
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Post by merrillstanley on Mar 9, 2010 14:02:13 GMT -5
MVIS out, nice return from 15% lows, caught my 10%, thx UK for the heads up on that one
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Post by ukarlewitz on Mar 9, 2010 14:04:51 GMT -5
ITms - short X at 61.5.
Does anyone know if these guys ever go long? I'm curious to see how all these shorts they've recommended work out. Right now it's like a bunch of 2010 Prius's headed down a short country road.
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Post by merrillstanley on Mar 9, 2010 14:07:59 GMT -5
lol UK,
ddss cc must not be going well
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Post by abdogman on Mar 9, 2010 14:11:00 GMT -5
Doug Kass 1405 dt "The rumor of new and stringent short-selling rules is causing a squeeze in heavily shorted names this afternoon."
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