Friday, May 24, 2024

The Bears Are Back…

big-bear-hug-for-you

Great day to be a bear, as the market sold off today, erasing yesterday's gains.  Most of the fear was based on the news released that Goldman Sachs could face criminal charges too.  Originally, they were just civil charges... which is no big deal to Goldman, because they have plenty of money to pay any fines.

But criminal is another story, as somebody could go to jail.  That's what I'd love to see, but I think it's more smoke and mirrors then actual arrests.

I'll do a weekend post that will be more in depth, with what I'm seeing for next week.  I do think we will bounce up on Monday, at least in the morning.  That's assuming no more negative news is released over the weekend.  That's the wildcard that no one can see.

Anyway, have a great weekend...

Red

Red
Author: Red

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bobarsenault
bobarsenault
14 years ago

how the hell do they get away with Red?
http://investmentwatchblog.com/just-tell-me-if-

great posting…keep up the good work.

Red Dragon Leo
14 years ago
Reply to  bobarsenault

That's funny as hell Bob… Yeah, we are know they lie through their teeth, every time they open their mouth. But, most American's are too busy watching Jerry Springer, or some stupid reality show.

If they only knew that the reality shows they watch are fiction, and the real reality is “that kind of news”, then maybe they'd wake up and complain some.

But, they are happy living in their little fantasy world for now. Of course when they lose their job they'll change their tune…

bobarsenault
bobarsenault
14 years ago
Reply to  Red Dragon Leo

one last thought and I'll stop pestering you. here is another tid bit that is so very true!!!! I know, because many folks in my neighborhood are doing it…one guy for 18 months. and he says, 'why not join the crowd???' have a great night sir. we love your posts on the TZA/TNA board on FB. you are a hoot!

http://investmentwatchblog.com/warning-19000000

Red Dragon Leo
14 years ago
Reply to  bobarsenault

So that's where all the GDP improvement came from… people not paid their mortgage, and spending it locally. LOL.

Thanks for stopping by again Bob, and I always enjoy reading the truth. Keep us all informed, by posting other useful links.

bobarsenault
bobarsenault
14 years ago
Reply to  bobarsenault

damn, I forgot to mention…no wonder the consumers are picking up steam…they're spending their mortgage money…robbing peter to pay paul…sure, it looks good on paper…the poop will hit the fan, and my short will pay off in the end…just hope it's not when the RUT hits 850.

Earl of
Earl of
14 years ago

The Weekly view from Americanbulls

TNA had a weekly HOLD signal last week, fell this week, and now has a highly reliable SELL-IF signal. AmericanBulls has this trade starting at $44.23 on March 3rd. Last week TNA closed at 70.78, up 60%. This week TNA fell to 63.45, still up 43%.

TZA had a weekly WAIT signal last week, rose this week, and now has a highly reliable BUY-IF signal. AmericanBulls last placed a SELL on TZA at $9.83 on February 19th. Last week TZA closed at $5.41, down 44.9%. This week TZA rose to 5.92, still down 39%.

Of the stocks & ETFs I follow, only GLD, SLV & USO are solid to hold on to.

The list to avoid:
UCO(2x Oil), ERX(3x energy), AMZN, GOOG, GS, DIA, SPY, EWG(Germany), EWQ(France), EWU(England), EWX(emerging mkts)

These are in transition – used to be ok to hold them, now they are possible sells in the coming week:
IWM (1x $RUT), UWM (2x $RUT), TNA (3x $RUT), IYR(1x RE), URE(2x RE), AAPL, DRI, QQQQ

The weekly view is very Bearish.

bear/bull
bear/bull
14 years ago
steveo77
14 years ago

POLL below
Obama Bashing is Not Necessary

And that is not my point. My point is:

1) Our leaders are either clueless, or

2) Our leaders have found some way to rationalize to themselves that telling lies to their constituents is what is necessary to “protect them”, or…..

3) Our leaders are pathological leeches that will throw us to the wolves–and pick at our bones themselves– to better their position in life or increase their power and sense of self-worth.

4) Hand picked by the ruling elite.

What say you….how can you not respond to those 4 choices?

Red Dragon Leo
14 years ago
Reply to  steveo77

All of the Above, is the correct answer!

steveo77
14 years ago
Reply to  Red Dragon Leo

Hmmm….you might be right!
Dr5op by my site and make your official vote, you can vote more than once, so you can pick them all.

http://oahutrading.blogspot.com/2010/05/obama-b

zstock, Pro Select!
14 years ago
Reply to  steveo77

T Jefferson, and J. Madison tried to warn the populace about a plutocracy, we'll I believe we have Plutonomics.

bear/bull
bear/bull
14 years ago

wow check the volume!

http://stockcharts.com/h-sc/ui?s=DRV

Gap down coming tomorrow IMO

Red Dragon Leo
14 years ago
Reply to  bear/bull

It's looking more and more like a gap down on Monday. Don't know yet of course, but if it opens flat and rallies a little, it won't last.

bear/bull
bear/bull
14 years ago

wow check the volume!

http://stockcharts.com/h-sc/ui?s=DRV

Gap down coming tomorrow IMO

Earl of
Earl of
14 years ago

Carl’s morning call:

June S&P E-mini Futures: Today's range estimate is 1181 – 1195. I am still expecting the market to make a higher low above last week's 1177 low. Even if I am wrong about this the worst I see on the downside is 1162. In any event a swing to 1270 will begin soon.

1182.75–1205.50 actual yesterday (22.75 points)
1183.75-1189.75 range last night (6 points)
1181-1195 estimate for today (14 points)

1188 currently, so estimate is -7 to +7 from here (neutral)

Earl of
Earl of
14 years ago

Carl just went Long one unit at 1197.50

Rather late in the day

Red Dragon Leo
14 years ago
Reply to  Earl of

By the way, we are now on a new post. I wondered where everyone was? I guess everyone is a little lost on the new site. I open to suggestion on things to make it better.

Thanks… and did you watch the video I did explaining the new site? Just click on the “Video Tour of Site” link in the header.

Earl of
Earl of
14 years ago
Reply to  Red Dragon Leo

Seemed like a really quiet day 🙂

I didn't see a NEW POST message, and the forward & backward words to click-on show up as a very light grey that can't see seen unless I stare right at it (Chrome user, I am) . It does show up as red if I mouse over it.

No harm. I got it now.

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