Thread: Market Talk / May 21 - 27 II

Originally Posted by tsptalk

Let's start fresh...

Thank goodness....I was feeling so dirty.

(Does this mean we get to start the week over again? "I just moved to 50%G, 50% F".)

It seems I missed the party - has someone been calling me names again?

It is easy to see why we're all a little edgy; a lot of wealth has evaporated lately. Soon it will be over.

But what is it? I read of Bernanke's comments before Congress over on CNN. We here expected some slight turmoil with his accession to the Chair. Now we can see that he did not fully appreciate his own gravitas and contributed to the mess we're in with his informal remarks.

Thankfully he promised to keep his trap shut from now on. Is this enough to restore sentiment? Is now the time to get back in?

Dave

The Kingdom of TSP
Daily Edition
May 23, 2006 Closing

Yak, Doodles, Tea Leaves & The Tin Box

Kingdom Yak:
Market Yak..............................Sentiment sours! Vestors go from ice cream to pickles.
Other Yak................................Lube up $1.80 or 2.6% on hurricane woes.
Jester Yak...............................Got blown away did we!

Doodles:
Socks [$SPX] Closed at..............1256.58, dn -5.49
Volume (CMF) (money flow).........-0.081, decreasing.
Averages (MACD) (trend)............-10.664, decreasing.
Momentum (S-STO) (signal)........,.10.83, decreasing.
Strength (RSI) Overbought/sold....[70] 29.46 [30]

Lube (NYM) Closed at..................71.76, up +1.80
Oil Markers................................<70= ok, 70-75= worry, >75= panic.

Tea Leaves:
Charts & Stuff............................Yellow

Tin Box:
Position.....................................90% socks
Stops [$SPX].............................Alert: NA. Trail: NA.

Originally Posted by Dave M

It is easy to see why we're all a little edgy; a lot of wealth has evaporated lately. Soon it will be over.

But what is it? I read of Bernanke's comments before Congress over on CNN. We here expected some slight turmoil with his accession to the Chair. Now we can see that he did not fully appreciate his own gravitas and contributed to the mess we're in with his informal remarks.

Thankfully he promised to keep his trap shut from now on. Is this enough to restore sentiment? Is now the time to get back in?

Dave

So he apologizes, essentially, and the market sells off again. He should of just said 'no comment' . I know, monday morning QB. But late day sell off could be enough. So maybe it IS time, Dave.

Well the new Fed said he was sorry. He should not have talked to anyone in the media. He will never do it again. He will watch what he says in the future. Well that makes my wallet feel all better now. Hey I'm up and it took Greenspan some time too.

As for the new thread. I missed what happened. No replays...

Robo,

To answer your question from my perspective - anytime is a good time to get back into the I fund. I don't have to make that decision because I don't get out - I'm looking for the top, not the bottom. Frankly, from a longer term perspective we have entered a phase of secular, or long-running growth on a global scale, not just a tempoorary cyclical upswing. I think most will be surprised at the strength of the economy and the markets. The current bull market is the fifth longest, so this correction is healthy. If I were accumulating a new position I would dollar cost average on the way up. The contributions to my international fund are monthly and I think things are very positive world-wide. Remember, the Nikkei based for 15 years. Will it go back to 39,000? Why not. Take care

Dennis -permabull #1

The FED's job is two-fold. The first part is to create inflation (monetizing debt) and the second part is to control the 'fear of inflation' by skewing the numbers (CPI) and jawboning. Jawboning will continue to be an integral part of the plan to keep this rolling economic train wreck on the tracks. It will work until it doesn't.

Originally Posted by FUTURESTRADER

So he apologizes, essentially, and the market sells off again. He should of just said 'no comment' . I know, monday morning QB. But late day sell off could be enough. So maybe it IS time, Dave.

I could be wrong, but I think the "apology" was in the news LONG before the last hour sell off. Don't think the two were related.

So, what gets us out of the hole?
- Some bit of good news?
- Anxiety that Europe, (and maybe Asia), is taking off without us?
- Just a little more time, and the oversold will fix everything?
- Forget it...We're staying in the cellar until fall?

(I'm envisioning a big POP when it happens.....Like a coiled spring).

Not to sound selfish - but I'd certainly like to get a few more buys in the C fund for under $14.00 before that coiled spring lets go. This may be a U bottom rather than a quick V - but only the market knows for sure. I'm already thinking about the ride that is on the way for 2007.

CNBC is reporting that a possible human to human case of bird flu. WHO is looking into it. Futures traders are reported to be selling off.