On Tuesday night on CNBC, “Fast Money” opened with a story about how retail investors put money back into stocks last week. This is very curious because the mutual-fund industry’s trade organization, the ICI, won’t publish that data until this afternoon. Why do I get the feeling that Bob Pisani was instructed to sing a different tune after his comments on the subject Monday night? Exxon has stabilized over the past week, so that is a potential sign that the wave of redemptions might be easing up. We will see, but even so, there is no way the mutual funds are going to regain the $50 billion that was pulled out in 2009.
One of the guys on Fast Money also said that Morgan Stanley was “winning the PR battle” with Goldman Sachs. Maybe as far as bonuses are concerned, but the Virgin Islands’ pension fund is suing MS for selling them a “Triple A” CDO which turned out to actually be “Triple F”. Now that the bulk of the banking crisis is over, why not hunt down a few criminals?
Parallels between the current market and the
1938-39 market are compelling.
K,
Congrats!!! on your grades.
Just ran across a site I’m going to monitor…
…BAM Investor. BAM is predicting a 50%
market crash in 2 to 5 months. Am currently
trying to understand indicators BAM uses.
did you subscribe to it Julie?
K,
Not yet, but I did sign-up for their free reports
…bottom of page…special deals.
K,
When someone tells me how great they are
and then only offer a 1 year subscription, I
wait to see if their major prediction takes
place…if it does, I will probably subscribe.
seekingalpha.com has a forecast opposite
that of BAM.
LOL. i’ll make one in the middle.
subscribe to me.
K,
Google…red light green light indicator…
click on verticalsolutions link.
K,
Just checked your blog for the first time…
….CONGRATS!!!…..
Where do you find the time???
I don’t Julie! Its very sporiadic so far. I’m trying to make time so I can document my trading online ( the covestor account has been messed up for a while if you got a chance to click it)
Hopefully a brinks truck comes your way today
Finally some weakness.
Larry, yep, nas red by 7.25 pts @ 7:15 or so
Futures Prices
Market Last Change %
Crude Oil 78.68 -0.19 -0.24
Natural Gas 5.797 -0.017 -0.29
Corn 417.00 +1.00 +0.24
Soybeans 1047.00 +9.00 +0.86
30yr Bond 115.5 +0.09375 +0.08
10yr Note 115.65625 +0.140625 +0.12
NY Gold 1091.5 -6.6 -0.60
NY Silver 16.94 -0.17 -0.99
Emini S&P 1115.25 -6.5 -0.58
Emini Nasdaq 1865.25 -7.25 -0.39
Emini Dow 10438 -49 -0.47
Matt:
I think the bulltards got the info here http://www.cnbc.com/id/34619533 , and I was shocked yesterday when I saw it on twitter. The source is not well known–ICI is watched by everyone; and with high-yield going phat, I doubt Joe is going to dive into equities–at least for now.
And why a few weeks before year end? Joe hasn’t even seen the statements, and that’s what drives (reminds) him. You’re right–yearly outflow will take a long time to be corrected. And if anyone trades in real time, which the FM airheads don’t, they know that we haven’t had “mutual Monday” for while–that’s characterized by some really sweet green candles on the one minute. This tape is 80% bot/quant activity nothing more.
Who’s winning the resource war? It’s our
enemy. They spend a penny so to speak,and
we go bankrupt.
K,
I ordered a Brinks truck for you.
Larry,
If we had a normal market, I would call yesterday
a key reversal day and be 400% short. But we
have not had a normal market, and the indicators
that worked well for me in the past no longer
work…so I’m just short with stops…and waiting
for the old market to return.
K,
What does Steve’s course tell you. The
daily SPX chart had a doji followed by a
red candle.
Julie says:
December 30, 2009 at 8:15 am
“Larry,
If we had a normal market, I would call yesterday
a key reversal day and be 400% short.”
Julie, I agree. It was a bearish engulfing and SPY 5min broke its trendline:
http://i50.tinypic.com/i29afb.jpg
Eh, gaps all around. Hope they’re filled today.
The gap-fill didn’t take long! Off to the races now.
Julie,
It tells me that the move up has slowed down. And both sides are fighting it out.
No direction yet as the volume isn’t there
Hi everyone.
Careful, careful. The spike up after this morning’s lows *could* be a w4 up, which would mean the T was in.
This means the rest of today’s wave action could be very informative.
TLT rising, just checked my avg price which is now 90.50, underwater still but not by too much…
nas100 isin’t down much at all, but vix, vxx, and afore mentioned tlt up…
AFTER..i still expect a break of 87.50 on TLT…..then we see if we crash or rally from there…..crash is inevitable ..the question is crash now or rally first…adding to TBT
Holy crap is JUNEgirl
(hehe sorry couldn’t resist)
Your SGA is acting weird today, what gives? This isn’t Y2K when SGA’s malfunctioned and crashed.
Welcome back!
Super K:
THANKS! It got so hot in the jungle, part of my computer melted. Got a new one from Santa, along with some new solar batteries. Sun is coming up.
NASDAQ building in NY evacuated. Investigating suspicious van. (Source CNBC RT News).
K,
May I please have a “t’” in the “is JUNEgirl”? Otherwise, look how it reads, holy or not.
A funny typo, to be sure.
SRS at double tops. Looking for a breakout to the upside.
as you can see i have the ‘ when i type mobile so typo for sure.
oops!!
you can have your t
next up for SRS is 7.44 if it can break the intraday touble top
Watch to see if this is a w4 triangle, or if we break out upwards.
http://graphjam.files.wordpress.com/2009/12/funny-graphs-today-fox.jpg
offering my TLT @ 90.60 for today, still quite far from that, i know…
big move coming tomorrow!
Junglegirl,
Welcome back. Missed reading your posts.
Hope all is well.
Thanks Julie!
This down move has no conviction. New moon coming up. Therefore the next move will be up.
Whoops, I meant full moon!
This is a day early, but I wanted to take the time to thank Matt for hosting this blog as well as for his tireless efforts in posting his daily insights. Matt, your efforts are greatly appreciated.
To Matt and all of my friends at Trivisonno.com, I wish you all a prosperous new year filled with health and most importantly happiness!
I see the PPT was in full force from 3:30 on today, making sure the S&P500 didn’t close in the red. I agree Julie, not a normal market at this point. The biggest question: WHEN is the market going to correct, and will it be a BIG correction? Stay tuned.
2thfixr,
I just heard on KFNN that Newsletter writers were only 15% bearish
Junglegirl,
I am so glad you are back. I was afraid your computer had exploded on you and caused you physical harm. I look forward to you and Phil beating the waves against each other. Happy New Year to you and everyone here!
String
Isn’t Mo a stitch to listen to Hank? I like Tadrow in the mid-afternoon too.
I like that equity funds took in a crapload of money the week of Christmas ($11.1 Bil according to the link above). Just in time to get killed.
Manuelstop,
Thanks for the link. Prior to 2009, the ICI did not report weekly stats, so research firms tried to make estimates. But now that the ICI reports weekly, what do we need these other estimates for?
Matt
Thanks JG. Glad you’re back.
Matt
Matt and stringm, thanks.
JG, nice to see your posts again!
I like the two guys that precede him!
2thfixer, Mo has his good points
I like Bill Tatro as well. His son Quint has a great site. Tickerville.com
That is how I found Matt’s blog. Quint does a free AV, ‘Tape Talk’, market overview a couple of times a week that I like to watch.
Bill touts his kid as being a pretty good trader. I haven’t had the pleasure of hearing him yet, but thanks for the contact info so I can check him out.
The other one, Gary?, bores me to death/tears. He takes an hour to say something that should be said in 10 minutes–and he doesn’t say much. Since I’ve been complimented on this blog site for my concise points–and I’m that way in real life as well–straight to the point. He is not!
Mo is just drumming up business. I understand. But, if someone asks a direct question, they at least get a direct answer. i.e., Is ABC breaking out? “Let me look at the chart…..mmmm, yes, ABC is breaking out. I’d put a stop at X and see how it goes.”
Nice to see JG back again!
Hank and 2thfixr, thanks.
2thfixr,
Quint has been too cautious, (me too) but has still done fairly well. He plays both the long and short side. I got his boot camp series and learned a lot. (This is my first year trading)
The KFNN.com website list lots of info programs and hosts.
Bill Tatro podcast is available etc.
Gary can be long winded, but he pulls no punches!
Now, Wayne in the morning, can really put you to sleep at the wheel.
If I hear Mo say ‘audited track record’ one more time this year I will puke.
Jim Garber & Sean Balog come on just before Mo at 4 pm M-F. Sometimes I catch them on the way home. I get their free newsletter. They are longer term traders but I like they show.
Barry Ritholtz has been a stud this year. He is on Yahoo’s TechTicker as guest of they year. I heard him call the upcoming rally in early March. I was surprised this noted bear was bullish. I also thought he was way too early…
buehahahah ted spread up 25% now
yup some wild news out there watch out
George,
On the Gaps. you are right they mostly close and the gap down provides support.
here is just a writeup if you still arent that deep into nison
http://www.ibtimes.com/articles/20091211/window-falling-and-rising.htm
http://garyscommonsense.blogspot.com/2009/12/9-out-of-9.html