Thread: tsptalk's Market Talk

Originally Posted by tsptalk

Not great action, but at least support is holding. Let's see what the last 30 minutes brings...

Well? Don't leave me hanging. I went all in COB for S fund. Did we find resistance at 1313?

Believe so. But look out for the ugly international clouds over the horizon!

Moody just downgrade Ireland

To buttress a short-term bullish bounce, I think that both gaps in UDN are likely to get filled in this wave. But, I think we're going to stay in this flag/triangle until the big news headwinds get resolved.

The S&P, Nasdaq and Transports all hit their 50-day EMA today and so far have bounced off of it.

Another typical emotional Monday morning sell-off. They can usually be bought but unfortunatly the intraday reversals don't do much to help our "buy the dips" approach in the TSP. Something tells me we could see this again. Can you imagine what next Monday morning (Aug 1) will be like if no deal has been made?

I also understand that the Aug 2 deadline is not particularly significant so it will be interesting to see what happens as we continue to get closer. Apparently Geithner picked it arbitrarily, most likely because it happened to be when congress is due to go on its next recess.

So, the deadline is approaching, but it is not a drop dead date by any means - that is unless congress has vacation plans they don't want to cancel. But the closer we get, emotions will run high and the market will be volatile, regardless of the deadline's meaning.

Also read that because of higher tax receipts that date is pushed into the future a few weeks which if continued higher receipts could make that month/s.
Whatever, just do something you lazy azzez.

Also Note...

Since May, the Federal Gubmint has been spending significantly less then last year. I just cannot see the pattern. I don't know how that could have happened. Every dime is important. Somehow the gubmint has spent $78 Billion dollars less in the months of May and June compared to last year.

Just to think, VP Biden dug deep to cut $2 Billion out of next year's budget. Cuttin' to the bone. But, Jabba the Hut hasn't even felt the $78 Billion dollar scratch.

Increase their credit max. The end is near.

Originally Posted by tsptalk

that is unless congress has vacation plans they don't want to cancel..

Magic 8 ball says..."It is likely"

Originally Posted by Boghie

Also Note...

Somehow the gubmint has spent $78 Billion dollars less in the months of May and June compared to last year.

DOD made the sacrifice to get that $78 Billion less. It hurt big time....The project I'm on took it in the shorts......Contracts pounding the pavement as we speak. Caveat, their not getting it back next year either! Guess we better get some troops home!

LINK

Originally Posted by Frixxxx

DOD made the sacrifice to get that $78 Billion less. It hurt big time....The project I'm on took it in the shorts......Contracts pounding the pavement as we speak. Caveat, their not getting it back next year either! Guess we better get some troops home!

LINK

Lots of Contractors and Government employees from USJFCOM pounding the pavement too.

Hmmm, did DOD get to keep that savings to spend on something else more important...