DOW watch thread March 11, 2009

[LiveToWin]

DOW futures at |6891.0 -30.49|

[ryanduff]

As of 6:25AM Dow Futures |6985.0 +98|

Looks like manipulation right out of the gate. See if investors bite today since they didn't yesterday.

I seriously think people are starting to wake up and realize the manipulation of the market.

http://img21.imageshack.us/img21/3968/picture1deg.png

[GunnyFreedom]

Up very slightly today, falling tomorrow. Called upon 5Feb09 futures as a guess.

[Original_Intent]

I want an option for "NO f&*^ing IDEA". Seriously 300 up OR down wouldn't surprise me at all. People are so desperate for some good news, they could easily build on yesterdays gains.

[Cowlesy]

ahhh damn it, didn't see this one lolol

[moostraks]

Eh...with nothing to lose, I think being as it's Wendsday they will build off of yesterday's gains and will close in the 200-300+ range, somewhere roughly in the 230's. Any significant news due out today?

[Cowlesy]

Understanding the violence of bull moves in bear markets, I think yesterday was overdone for one day. The sentiment last time we did something like this, people tried to catch falling knives and got their hands sliced open.

With the market about even, I placed an order for FAZ, basis of $59.00.

I think most people will be too timid to try and catch this knife (i'm going to try and catch it short-term for the day), so I am going to gamble.

If it moves 10% in the wrong direction, I will just sell it. If I could squeeze out 5 or 6% gain on an intra-day move, I'd be grinning ear-to-ear.

[Ethek]

If we close convincingly above 7100, look out bears.

[acptulsa]

Understanding the violence of bull moves in bear markets, I think yesterday was overdone for one day.

I'm with you.

[Cowlesy]

What a ride with FAZ today. It was down to $51 and I was about to cut bait, but then it rocketed back up over $60, and now back down in the mid-$50's lolol.

[tmosley]

Once the financials report their losses (next week I believe), the markets will crater. I'm going ultrashort financials (SKF) starting tomorrow.

[jclay2]

What a ride with FAZ today. It was down to $51 and I was about to cut bait, but then it rocketed back up over $60, and now back down in the mid-$50's lolol.

I used FAZ in a finance club stock competition to rocket to 1st place. However, once I had a sufficient gain to not get passed, I quickly converted to cash to avoid the crazy roller coaster ride of triple leveraged short financials.

[SLSteven]

Jamie Dimon on CNBC explains the economic crisis - "We had a storm that gathered..." It is painful listening to him explain how we need all kinds of better regulations to fix this and that. Why not just resort to sound money?

[MsDoodahs]

Dimon.

:rolleyes:

[brandon]

Just bought some DXO @2.20/share.

Not planning on holding long. I'll sell as soon as I see 10% profit

[Ethek]

Ill make the call now while we are down -8. 199+ at the close.
Its a feeling

basically a wild guesstimate so if you trade on this you will loose money.

[Chieppa1]

Anyone think the news that CITI CEO lied about profits will bring it back down in the future days this week?

[acptulsa]

Anyone think the news that CITI CEO lied about profits will bring it back down in the future days this week?

No idea. Will a mainstream news outlet ever report it? Or is that fact top secret?

After all, they don't want people to figure out how little difference there is between Madoff and the ones who aren't facing prison.

[GunnyFreedom]

Up very slightly today, falling tomorrow. Called upon 5Feb09 futures as a guess.

5Feb09 looks like a pretty good model. hmm

[Sarge]

The market is likely not to stay up long, when all wake up to this news. It looks like tax receipts are down big time.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aGiQzUhSOlfA&refer=home

They haven't even got all the refunds out yet. Big sucking sound. Then what? Print more money?

Is that Turbo Tax Timmy talking about depression?

[Danke]

I predict we'll see some movement before the closing bell.

[GunnyFreedom]

The market is likely not to stay up long, when all wake up to this news. It looks like tax receipts are down big time.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aGiQzUhSOlfA&refer=home

They haven't even got all the refunds out yet. Big sucking sound. Then what? Print more money?

Is that Turbo Tax Timmy talking about depression?

If the model that landed me at the answer of "just barely positive" on the day holds; then I'd expect to see a crest tomorrow morning, and a steady drop through the closing bell on Friday. Of course, using historical modeling as a predictor by itself, is clearly not the most accurate thing in the world. However, we are in territories today where the technical indicators often hold little meaning; so ...

[GunnyFreedom]

(ahem. It just occurred to me that the clock on these forum posts [at least in this thread] are delayed by 20 minutes.) :rolleyes::p

[acptulsa]

(ahem. It just occurred to me that the clock on these forum posts [at least in this thread] are delayed by 20 minutes.) :rolleyes::p

OMG--The Fed has figured out how to rob us of even some of our daylight savings!!

[GunnyFreedom]

OMG--The Fed has figured out how to rob us of even some of our daylight savings!!

ROFL! I was thinking more along the lines of NYSE quotes being delayed 20 minutes, but hey, I like yours better. ;)

[GunnyFreedom]

uh oh. needs to drop 8 points if my sub +49 wants to hold

[SLSteven]

flat

[tangent4ronpaul]

uh oh. needs to drop 8 points if my sub +49 wants to hold

So, did you make it? - was rooting for ya!

-t

[Sarge]

Take a look at this to see if things are getting better.

http://apnews.excite.com/article/20090311/D96RTNJ80.html

Washington is so lost, it is beyond belief.

Almost the end of March, and BO has no nominees for the treasury to be considered by Congress.

There are articles popping up, that they can't even get someone to pick up the phone at the treasury.

England is complaining they will not answer the phone with the G20 meeting coming up.

They just keep pumping buying stocks, and will not discuss these things on the air, short of a very few people.

Some idiot on right now saying excellent area of growth in the banking industry. Go for it sucker.

[LiveToWin]

DOW closes at |6930.4 +3.91| +0.06%

[Sarge]

Yipes, take a look at these two,

http://www.thenation.com/doc/20090323/howl/print?rel=nofollow

http://news.yahoo.com/s/afp/20090227/bs_afp/ushousingpublicaidcompanyearningsfanniemae

Sucking sound again tonight. Oh, they want more money? When will this crap stop.

Freddie Mack now saying they want 30 Billion more just hitting the news.

Next will be AIG wanting more.

[Sarge]

Let's see,

Fannie Mae wants 15 BILLION and now Freddie Mack wants 30 BILLION.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aDNGVfeY8lgQ&refer=home

When will they take them out to pasture and put them down.

SWOOSH your tax dollars.

[Sarge]

Starting to hit the news. Timmy Turbo Tax is to give loans to private companies, guess who, to buy distressed assets. I am sure we will hear more tomorrow.

Where is the offering to the small investor, who has to pay the taxes, to make some money in this? If you can't be in a hedge fund, or one of the ones that have taken us to the cleaner, my guess is you are out of luck.

[Sarge]

Spending more of your tax dollars to keep this alive,

http://apnews.excite.com/article/20090311/D96S3IEG0.html

How about a memorial at the bridge, for Mary Joe K that he failed to save?

[Sarge]

Yes, these idiots want you to think all is just hunky dory. Take a look at this,

http://www.chicagobusiness.com/cgi-bin/news.pl?id=33271

3 B or 4 B, or 10 or 20 B more and they just keep piling up.

I saw a bunch more, and I am sure we will see more before this is over.

What are all these people smoking, trying to say things are all right and getting better?

We need to wash this out.

[Sarge]

Yes, it is getting so much better. Plan your vacation wisely.

http://www.bloomberg.com/apps/news?pid=20601103&sid=a9aorli_NH3M&refer=us

[Sarge]

Boy it sounds like it is getting better,

http://www.dailymail.co.uk/news/article-1161317/House-prices-drop-55-leave-Britain-bankrupt.html

[Sarge]

Yes,

Everything is great. Another 1.7 B gone yen dollars no difference,

http://www.hurriyet.com.tr/english/finance/11187979.asp?scr=1

[Sarge]

Amazing how the board is becoming more worried about patent infringements, than the stealing of billions of dollars and not sending the crooks to jail.

The patents will not make one hoot difference, if this country is taken over by the crooks.

I am thinking we have lost a bunch of people who cared, or no longer care, and are now heading for the hills. I hope I am wrong.