Stock “Promotion” Goes Mainstream
This website is advertising on The Howard Stern Show. This has to be a sign of a top, right?
A Debt Crisis Can Get Exciting
In 1840, the state of Mississippi defaulted, and there was talk of the traditional solution being applied: invasion by creditor nations. In the event that the British invaded, John Quincy Adams proposed to Congress that Mississippi be cut loose from the nation:
“In the event of such a war, the State involving herself therein will cease thereby to be a State of this Union, and will have no right to aid in her defense from the United States, or any one of them.”
This is a fascinating tidbit of American history – especially now that so many sovereign entities around the world are getting themselves into debt trouble: Japan, the UK, the USA, California, etc. Long, detailed, historical article on the Mississippi incident here.
If you feel froggy…
…then jump, but this girl will crush you like a bug – even if you’re able to concentrate on the game. Her ICC rating is 2765.
Fabulous Recovery
The middle class has turned to shoplifting.
If only George had told me earlier than the Patriots would lose, then i wouldn’t have to shoplift…
Well the website is finally done for our school fund.
This might be a very nice page for loads of info on it
have a look and a good night while I get my rest for the Big presentation
Matt,
Gotta ask does your ICC rating have a 1 handle or a 2 handle? I haven’t played in years, but it was a 1 handle.
WOW
http://www.justaguything.com/cheerleader-flu-shot-girl-miraculously-cured/
the girl that couldn’t walk because of flu shot is now fine right….
futes @ 7:20 am:, nas up 9.5
when do bears get a break ? still basically in ca$h here…thinkin if i do add shorts they’ll be on an extremely tight leash…
Futures Prices
Market Last Change %
Crude Oil 77.03 -0.62 -0.80
Natural Gas 4.798 +0.037 +0.77
Corn 405.75 0.00 0.00
Soybeans 987 -3 -0.30
30yr Bond 119.9375 +0.5 +0.42
10yr Note 118.953125 +0.03125 +0.03
NY Gold 1116.7 +10.1 +0.90
NY Silver 17.38 +0.115 +0.66
Emini S&P 1099.75 +8.25 +0.76
Emini Nasdaq 1797.75 +9.5 +0.53
Emini Dow 10306 +64 +0.63
K,
Looks like your 1106 is the winner.
Oh look, another divestment by another “integrated” (think bloated) oil company.
Devon Energy to sell Gulf of Mexico assets, others
(AP) – 20 minutes ago
OKLAHOMA CITY — Independent oil and gas producer Devon Energy says it will divest its Gulf of Mexico and international assets.
Devon expects the divestitures will create after-tax proceeds of $4.5 billion to $7.5 billion. The company plans to use the proceeds to invest in its U.S. and Canadian portfolio and retire debt. The sales will add to earnings, cash flow, production and reserves beginning in 2011, the company says.
CEO J. Larry Nichols says the company does not believe the value of the assets are adequately reflected in Devon’s stock price.
The company expects to begin divesting the properties in the first quarter of 2010 and will complete the divestitures throughout next year.
Devon Energy Corp. is based in Oklahoma City.
Copyright © 2009 The Associated Press. All rights reserved.
Related articles
Devon Energy shedding Gulf of Mexico properties
MarketWatch – 28 minutes ago
Devon Energy to Strategically Reposition as High-Growth, Onshore North …
OilVoice (press release) – 2 minutes ago
Devon Energy to sell Gulf of Mexico assets, others
The Associated Press – 6 minutes ago
More coverage (8)
However, one can’t lump DVN in with the “fabulously integrated” XOM.
TNX in the red – could be short-lived. SPY trying for the new high.
Still eyeballing the SPY gap up from several days ago. Paitence is the word because it will be tested at some point.
“Patience” would be an even better word.
I like “patients.”
George, a banker once told me, “never poke a bear if you’re in the cave with him/her.”
2th FIXER..i had no patience with my patients in medical school so i became a radiologist
Good choice…no blood, no guts. Just sit in a dark room and deliver bad news: cancer, spot on the lung, broken bone. Work 3 days a month.
Matt’s Tarzan triangle got broken to the upside. What would that target be? Waaaay up there.
Now there are two gap-ups to fill. Yipeeee!
1106 was a good haul. Let it unfurl up and down within 1099 to 1108. Oh look there goes a flatbed hauling lumber!
Is it a gap George when 11/11 filled the gap already previously? Just asking.
2thfixr,
You may be correct… my screen is tiny and I didn’t have time to zoom in to see if there was a true gap. However, there certainly is a well defined intraday gap and they are as trustworthy as the daily.
K and Stringm,
Have you used TD to place trades? If so, is execution satisfactory?
will short q’s via hqd.to @ 13.50 which allows for 1/2 % or so more up on the nasdaq…tight leash if filled (as mentioned earlier)
stuck with some SDS underwater but allocations are basically ca$h…
George, there IS a gap from Friday to today. But, 11/11 covered that price territory already (recently). How will that affect the gap made today?
This is the kiss of death, but it looks like 1110 is fighting hard to be resistance. I’m sure it won’t last long, but I like the fighting spirit!
2thfixr,
I zoomed in on SPY and Friday’s high was $110.09 and today’s low thus far is $110.32. So a small gap and enough to get the juices flowing.
well, VXX is not at a 52 week low, lol, not much else to hang a bear hat on…
IMHO, a gap is a gap regardless of previous coverage.
2th,
phil might call an “overlap” a negative.
This gap they speak of, if we cross 11-11 gap again is that overlap a negative?
Thanks George. I don’t use gaps (or haven’t), so just trying to learn more.
2thfixr Says:
November 16th, 2009 at 9:40 am
Good choice…no blood, no guts. Just sit in a dark room and deliver bad news: cancer, spot on the lung, broken bone. Work 3 days a month.
>>2TH FIXER…you forgot one thing…….also btw TBT is in trouble
SOLD 4000 DDM for 57c gain…..my target had always been 10400…i have to take profits here
sold most of my TBT at 47.75. Waiting to buy in again in low 40′s or high 30′s depending upon market.
What did I forget?
Here’s the Dolphin chart of the SPY weekly I posted last week. SPY is up against a tough area to overcome; the 50% Fib retracement and the upper sloping trendline resistance.
http://www.freestockcharts.com?emailChartID=f4b38742-bc4c-48ad-b0d6-b7afbb3ed0fe
I will watch the Dolphin to see how it reacts.
GEORGE..i went overboard buying the last dip as i believed 10400 would be touched at the very least
2thfixr,
I understand. I’m still learning myself (always)! Picking each others’ brains is the best learning method. Pick-n-grin, that’s what I say.
I gotta run to work, but George, it looks like a Tres Cruzars could be setting up on the SDS and QID types. The 15 min needs some time to get there, so I’m counting on the bears hanging in there at SP 1110!
I had the word w/o a smiley face?
2th fixer..i believe we have seen 5 waves up and now we can correct maybe to 10000….be advised there is no bearish case at this time and shorting is not advised
phil,
You’re battin’ a 1000 for sure!
2thfixr,
Thanks for the heads-up.
GEORGE…now i am out of ideas….i cant buy it here but we still could run up more..i need a correction to near 10000 to buy again…i would not short this thing george ..RISK is still to the upside….
GE resolved a triple top on the 5 minute to the upside. Conglomerates and large caps have their footing again and are driving back up.
GEORGE….sold some double gold bought fri on gap up this am …DGP..i dont trust the gold etfs..i treat them like hot potatoes ..was nervous about holding over the weekend…i believe GLD and the rest are PONZI schemes and will not deliver when the time comes…QUEUE up the LAWYERS yet again…..
GEORGE..not battin a 1000 …i still have some QID thats getting KILLED
I’d like to say I got all of these good trades this AM but my broker (USAA) made sure I didn’t.
Looking to change.
Xom 5 minute double bottom breached.
phil,
I would hang on to them depending upon the price. Play the other side of the fence the way you have been doing to even out the odds and they will come back eventually.
1120-25 still target area. 10500 dow or 10770 max. Expecting catharsis thereafter.
George, SD is pretty satisfactory. Haven’t gotten it to auto execute trades and 9.99 comission doesn’t suit me at the moment
DVN bb’s tightening up here – should get a breakout one way or the other here. . .
DVN breaking down & XOM. Next stop 1106 by high noon (Charlotte time).
Yerk Says:
November 16th, 2009 at 11:09 am
1120-25 still target area. 10500 dow or 10770 max. Expecting catharsis thereafter.
YERK>>>>>>right on….line across tops of spx is at 1123 now i think it can hit it
YERK http://evilspeculator.com/wp-content/uploads/2009/11/2009-11-16_dji.png
YERK..the above chart was posted BEFORE todays surge..ie its on track
I have been stopped out of srs. Forgot what price I had but I think 41 cents from friday
K,
Thanks. The $9.99 is okay if they can execute.
(Note to self…) I’m at $4.99 due to the amount of trades I make but it’s no good if I can’t make them.
HERE IS FRIDAY POST http://evilspeculator.com/wp-content/uploads/2009/11/2009-11-13_dji.png
YERK…another reason to be cautious here…5th wave failure could occur..anyway all it needs is one tick over wave 3 high and its enough for a 5
K……..see my posts .. a scalp short may be setting up on next surge
I don’t want to be the quintessential “Afraid To Trade” person because my broker can’t deliver. There’s gotta be a better mouse trap.
I know I’m preaching to the choir, but there’s two things you don’t skimp on… toilet tissue and brokers.
…just sayin’
Prices rebounding on GE, XOM, DVN . . . . Ha, 1111.11
Sds 39 dec call in for a deep discount
I love low volatility. I will buy a january 2010 option in next few days if it gets into my criteria.
MITCH…K….i still have some SSO that i was hedging with QID…now have good profits in the SSO and 1116 is upper bb on spx…i am going to sell it at 1116…this will put me NET SHORT…after i just said shorting is not advised ….lol
Another all-time low for SDS.
I would think profit-taking would be in the works soon.
SPY TARGET level is 112….upper bb and line across tops
phil, the dow target is from March so it MUST be valid
SELLING SSO into next UPSURGE
Thanks phil. Being nimble can appear as two-faced . . . man who will be left to rent my longs to?
YERK…i told my wife (who was panicking in april when she noticed her IRA was disappearing)…WAIT..it WILL come back to 10400….GUESS WHAT???now she wants to put in MORE MONEY!!!!!! is that a SELL SIGNAL??? or what …lol
phil, re the GLD, etc, have you thought of buying puts given your 11:00 a.m. post ?
thx
AFTER…..i dont do puts /calls…but that could work i guess
after..if they halt trading in GLD due to fraud ..wil you get pain on your puts???
after …..PAID…or pain…FREUDIAN slip??
I just need sds to go down a few more cents and january sds calls come within my order limit
GS placing sells on most discount retailers. ANF squoze some bears AND they have some help from on high I guess. Or is it friends in low places?
I manage my daughter’s 401K and I got her in on the daily/weekly MACD Tres Amigos. I’ll exit with a Tres Cruzars to the downside.
The SPX’s high for today so far is 1111.74, which is only 0.08 points away from the 61.6% fib level in the Box of Beer.
Bernanke speaks in 7 minutes. Might be some volatility.
I like girls that wear Abercrombie and Fitch Chinese food makes me . . .
LOOKING for a SPIKE to 10459
FYI (as seen on my trading screen):
“Effective Dec. 1, 2009, the Financial Industry Regulatory Authority (FINRA) will increase margin requirements for leveraged Exchange Traded Funds (ETFs) and some related options. As a result, USAA will apply 100% initial and maintenance requirements for these ETFs when traded on margin starting Dec. 1, 2009.”
Fed-Speak; let the shell game begin. Lunch $ coming up.
“When I met you I said my name Mitch – you look like a girl from Abercrombie and Fitch.”
George
I keep up SD and TOS on my Ameritrade account at the same time. When I place the order on SD I get a confirmation on TOS almost within seconds. The confirmation is delayed on SD, but I know it has already executed from the TOS screen, and they always end up matching. If you just look at SD it would appear to be slow, but that does not seem to be the case.
String
Bernake will keep low interest rate. Source MarketWatch RT.
Stringm,
Thanks.
George, involuntary unemployment is key to maintaining low inflation expectations. Dual role of the Fed . . .
Shut eye on the fundamentals here, markets stupid
LOOKING for 10459 still to sell
ANY weakness here and i am GONE
SOLD …SSO …technically we have gone high enough….i am now NET SHORT…..but looking to get long on any downdraft
Probably wise phil, I’m getting a bearish signal on SPY’s 15min.
george…thanks…i dont like being short in this market
.01c more down and SRS will have an all-time low and a possible daily bottom.
Phil, might get to your mark today itself. Btw, I’m GONE already
BOUGHT ……… TBT @ 45.74
K….UUP now at LOWER bb…….wild man wild
K …as i posted it was touching the upper band on THURSDAY!
I look at the NYSE$TICK, its been above 0 most of the day. Normally that would mean 200+ on INDU (seems to be getting there). Whats interesting is brief period below 0, the market shot lower by 40pts. We might be weakening on the rally.
Mitch Says:
November 16th, 2009 at 11:11 am
DVN breaking down & XOM. Next stop 1106 by high noon (Charlotte time).
Phil, I missed it by 20 minutes.
Yerk, Hugh is entertaining – eclectica sprung some ideas for me too!
So much for institutional selling. They must have been selling the inverse.