FAA is an ETF
3/6/09
A Dedication to "Stock Lobster" - Who pounded us that this would be the Outcome over the last 2 Years
Salute!
(BTW I am very much bottom watching down here now)
New Lows 6400's SPX 669
"As the president has often said, it's going to get worse before it gets better," spokesman Robert Gibbs said on Air Force One as Obama headed to Ohio to tout a minor victory for his plan.
Since Obama's inauguration on January 20 the DJ Wilshire 5000, one of the broadest measures of shares traded in the United States, is down 14.84 percent or $1.4 trillion through Thursday.
"At least on Wall Street, the honeymoon is over for President Barack Obama," a Business Week magazine column declared.
3/5/09
SPX 682 close -4.3% New low 678 - Ranges for Friday
SPX Day
Dow Closes 6,594 with an intra day low of 6,546, like I said 6300 ish is next support for the DOW 20 (14 Dow stocks under $20 now, 2 under $2, 5 under $5)
USO breaks above the trend line- important -2% today
Qualifies as a trigger play above Wednesday highs
3/4/09
SPX Ranges for Thursday - Got the pullback
SPX 15 min
SPX 60 min
SPX day
XLF 60 Min
XLF Day Min
USO 60 Min
USO double top on the 60 min chart...XLF Posted, Daily held 6.84 (who knows C new 52 week low 1.12...Get it out of the DOW for Christ sake)and JPM very weak and near 52 week low....SPX Daily RSI held, it turn up through 30 but I don't know if I trust it (the weekly has not turned :trust the chart:) Anybody feel like this wasn't just your typical Bear market Rally....looked to me like up, accumulate, up accumulate, then shake..(?!?!?!) We'll see
SPX 60 min
SPX day
XLF 60 Min
XLF Day Min
USO 60 Min
USO double top on the 60 min chart...XLF Posted, Daily held 6.84 (who knows C new 52 week low 1.12...Get it out of the DOW for Christ sake)and JPM very weak and near 52 week low....SPX Daily RSI held, it turn up through 30 but I don't know if I trust it (the weekly has not turned :trust the chart:) Anybody feel like this wasn't just your typical Bear market Rally....looked to me like up, accumulate, up accumulate, then shake..(?!?!?!) We'll see
! Hour to go SPX 720 through 715 Res !
Short Covering could get us to 740 - 750 Early Thursday...no?
If you missed 692...may get a pullback soon to enter
SPX 1:30 JPM near 52 week lows and XLF hit new lows -4% about the only ETF down today
You'd think we are up 10 or 20% over the last few days, it's been such a battle from 692 to 715... looks like the bulls may be worn out. Who knows, on the positive side the SPX daily RSI has managed to turn up and is now holding over 30 after dipping below 30 Tuesday. Weekly RSI is still pointed down and the weekly MACD has / is crossing down. USO and KOL are very strong off their bottoms so that will help.
China Reload - I have not found a US ETF to match this market FXI and PGJ are lagging
I'd be watching this real careful around the last high at 2400
What Happens When GE Breaks $5? (GE)
What Happens When GE Breaks $5? (GE)
Henry Blodget|Mar. 4, 2009, 10:26 AM|6
Tags: GE, Jeff Immelt
jeffimmelt5.jpg
GE Mar 4 2009, 11:31 AM EST
6.54 Change % Change
-0.47 -6.70%
Just as no IT professional ever got fired for buying IBM, no mutual fund manager ever got fired for buying GE (GE). (Not yet, anyway.)
As a result, the vast majority of broad-market mutual funds own GE.
In order to avoid the appearance of trafficking in penny stocks, many mutual funds also have rules that prevent them from owning stocks whose prices are below certain prices, such as $10 and $5.
So we have a question for all mutual fund companies whose rules prevent them from owning stocks with prices under $5: Are you going to suspend those rules when it comes to GE?
If the answer is "no," who will buy up all those shares?
My Comment - there are around 10 Billion shares out.
Henry Blodget|Mar. 4, 2009, 10:26 AM|6
Tags: GE, Jeff Immelt
jeffimmelt5.jpg
GE Mar 4 2009, 11:31 AM EST
6.54 Change % Change
-0.47 -6.70%
Just as no IT professional ever got fired for buying IBM, no mutual fund manager ever got fired for buying GE (GE). (Not yet, anyway.)
As a result, the vast majority of broad-market mutual funds own GE.
In order to avoid the appearance of trafficking in penny stocks, many mutual funds also have rules that prevent them from owning stocks whose prices are below certain prices, such as $10 and $5.
So we have a question for all mutual fund companies whose rules prevent them from owning stocks with prices under $5: Are you going to suspend those rules when it comes to GE?
If the answer is "no," who will buy up all those shares?
My Comment - there are around 10 Billion shares out.
SPX 60 Min chart...getting close to overbought - PAUSE?
At the res 710 - 715 area...this is the 2nd pop this week, if it fails and reverses, well, lower lows might be in store
3/3/09
SPX 710 to 715 is res...hit wall there.. 45 min to go looks like it rolling over here
15 min MACD crosses worked great for the last few days...must be a bunch of amaturs playing down here
Testing 692 on SPX and 6.84 on the XLF
Could be a final purge? or just more of the same...tight stops to fight another day folks
Well He Better pay Attention!!
WASHINGTON (AP) - President Barack Obama is comparing the stock market to the daily tracking polls used during campaigns, saying that paying too close attention to Wall Street's "fits and starts" could lead to bad long-term policy.
Obama spoke to reporters Tuesday after meeting in the Oval Office with visiting British Prime Minister Gordon Brown. Obama said he is not measuring policies against "the day-to-day gyrations of the stock market," but by whether lending is flowing more freely, businesses are investing and the unemployed are going back to work.
He said he is "absolutely confident" that those things will happen. But the president also said it will take time for the mistakes of the past to work their way through the system.
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