3SOF

May have another up day tomorrow but keep the faith its basically a very needed low volume rebound.

Quote from: bourbonstreet_crawdaddy on March 06, 2007, 03:56:13 PM
Hi David,

As you predicted last week, we will see some furious rallies as the Bear market continues, this just happens to be one of those days. I believe that the GOOG rally will stall, and we will see this soon when another ounce of bad news hits the market.

Keep your chins up, GOOG is now at the point on David's chart where we will most likely see a strong reversal to the downside. Remember that GOOG has lofty earnings expectations for 2007, and that if market conditions worsen, GOOG will take a big hit.

Cheers and Happiness  

Bourbon

I hope your right about GOOG. I am nervous because it just crossed its 10-day moving average.

I bought OFI again.  People are not going to stop eating and they will probably eat more if the market goes down.  They will eat more if the market goes up.  This is a recession proof stock.  I also bought CPNE and BFLY.  People will not stop using the internet and they will keep buying clothes.

Quote from: Windsurfer on March 06, 2007, 04:01:36 PM
I bought OFI again.  People are not going to stop eating and they will probably eat more if the market goes down.  They will eat more if the market goes up.  This is a recession proof stock.  I also bought CPNE and BFLY.  People will not stop using the internet and they will keep buying clothes.

Careful with BLFY and CPNE... BFLY caters to high end consumer clothing... this area can get hit hard in a recession. CPNE is very volatile and a small cap those would make it pretty dangerous long term hold in a volatile and bearish market.

Quote from: nullzero on March 06, 2007, 03:56:43 PM
May have another up day tomorrow but keep the faith its basically a very needed low volume rebound.

Yes agree totally and totally expected with the last week we've had.  I didn't see alot of conviction today and although most major index's did close just slightly above yesterdays high, they didn't do it by much.  Probably still a little up and down to go from here before next leg down.  Big chart picture still not looking good on the long side.

Quasi

Quote from: Quasi on March 06, 2007, 04:12:59 PM

Quote from: nullzero on March 06, 2007, 03:56:43 PM
May have another up day tomorrow but keep the faith its basically a very needed low volume rebound.

Yes agree totally and totally expected with the last week we've had.  I didn't see alot of conviction today and although most major index's did close just slightly above yesterdays high, they didn't do it by much.  Probably still a little up and down to go from here before next leg down.  Big chart picture still not looking good on the long side.

Quasi

Great composite of charts Quasi, applaud, keep those coming lol.

As a bear, a bit of consolation for today is that the $DJIA volume can only be described as "pitiful"  .  Less volume than usual even before the down days, but compared to any of the down days it was really weak!  $COMP also small volume relative to recent. 

Basically, looks more like short covering and retail investors that look at this as a "buying opportunity".  The big money was NOT buying today.

This options stuff gave the Fire Portfolio its biggest one day decline. Probably stocky was right. Big tuition fee.

I had to leave and took a punch in the stomach when I saw the way things closed. I knew rallies like these would come, but options and leverage made things much worse than what they could have been.

Still up 48% since January 19, 2007. I can't complaint.

Tomorrow is another day, see ya