Stocks made a very, very strong close yesterday. The cash S&P made a new all time high on higher volume and is in blue sky country. The Nazz cracked 2700. I think 3000 is long term resistance for the Nazz. IBD says the Nazz is now leading. Perhaps. Good four letter stocks might work well here. I'm still pumping GOOG to all who listen ;-) Also, ORCL is again in blue sky country on the two year weekly chart, which is a key "tell" for me.
Some bears on Euro-Bubblevision. Good. Lots of caution. "Wall of Worry" feelings are symptomatic of a continuing bull market.
If you missed it, re-read my post of Sunday about Beefers. In a "PS" I added, the mental metaphor we always look for is when the herd of elephants find a direction to head off for the next waterhole. I think yesterday signals that move - a new leg up. We want to be on their backs and riding along ;-)
Comparing the corrective chart patterns I wrote about yesterday, the last leg gave us 90-100 points in the S&P [1440-1450 to 1540], so we could set a guideline measurement this leg to about 1640-1650. At that point it would need new "news" or it may become tired.
So what to do?
Your retirement / pension money should be at least 50% long in stocks - a little more if you are younger than me. That's analogous to my Krypto Fund. Your selected stocks should be very long - at least 100%. That's analogous to my Alpha Fund.
If you succumbed to bearish worries, [uh, got stomped by the elephants a little lately ? ;-)], you aren't there. Buy dips in your retirement / pension money. Look for market leading groups & stocks for your "Alpha Fund".
Bunkerman is going to ride the bull elephant, keeping a sharp lookout for trouble. But I'll keep riding unless something changes! Yeeeeeeee - Hawwwwwwwwwwwwww !!!!! :-)))
Alpha Fund is long 200% including that long S&P futures position.
PS: Some readers post stock ideas in the comments. Some of these guys are super traders and can find great leading stocks and groups. You might want to read those comments & think about the stocks. Make up your own mind, though. No one is perfect.
PPS: GE reported 10% year-over-year earnings growth. The world economy is fine. Forget that subprime screeching.
It's a Bull Market.
The Trend is Up.
Buy Dips.
Use Time Diversification.
Find Leading Stocks & Leading Groups.
Don't Miss the Next Leg Up.
About Me
- Bunkerman
- I have a pioneer mentality. My wife & I live in the woods - neighbors aren't visible except slightly in winter. Our "bunker" - hehe, really a fine home & barn - has plenty of security. We have four dogs: Krypto (age 9, Kelpie), Ava (age 13, Rat Terrier), Sky (Kelpie, age 5) and Lucky Star (age 1, kelpie). I don't take crap from anyone anymore, having enough resources & gear stocked up to survive in any circumstance. I have three degrees from Harvard including a Ph. D. in a physical science, and an MS in Management from MIT. I worked as an investment banker for about 25 years, mainly in secured finance, at three major Wall Street firms and for the last 17 years with my partners at our own firm. I'm semi-retired now, managing some private corporations and business interests and doing my own trading & investing. This is not to boast, but to give you an idea I know a little about some subjects from experience. The photo is my 1943 M16 half-track which I am restoring. These armored vehicles were ubiquitous in the US Army in World War II and Korea. It's driveable.
78 comments:
B'man please take a look at CSCO for me. Technically the stock looks tremendous but how do the fundamentals look to you? ( earnings,growth , valuation etc)
good morning....Fast Money Adami said NMX gets bought by Sept.......165
Not sure how many 'retirement' fund type readers you have. Seems to me the readwers of this blog are mainly 'alpha' fund types. Although frosty gettin up there. Lmaooooooo
I know you're not talkin about me when you say 'super traders.' Pretty sure you not talkin about frosty either.
Interesting front page article in Nytimes this morning on a tax loophole on $3.7billion the blackstone group took advantage off. Complicated but the way I understand it, the partners paid 15% on shares sold but then took deductions at a 35% rate ( all legal). The article calls it 'tax low, deduct high'. That seems unfair. I am a big believer in lowering everyone's taxes from the billionaire to the working joe. But it should be fair. I only see 2 solutions....since I'm paying 35% , steve schwartzman should pay 35% .....or #2 ....if steve payin 15% ...then I should pay 15% . I prefer solution #2.
I like CSCO a lot. Internet related tech has to grow a lot. It's undervalued, too, worth about $50 I think. I had a lot, but was so long I had to cut some stocks when I paid my taxes :-(
Well, Bud, I actually have quite a few "retirement fund" readers who know me personally.
Solution #2 works for me, too.
That Blackstone tax situation is completely indefensible. How anyone but a shill could support it is beyond me. Maybe all who do are in fact shills.
we need a corn report Bunkerman....It sure is green and the stalks are looking tall here in "crackhead" Pennsy.......
looks like RSH took the leap...pearls for everyone
I stopped following corn & corn belt weather awhile. I needed a break. If the crop gets pollinated OK and gets decent rain in July, it will be big. If so, I'd expect corn to trend lower toward $3 this fall.
Thanks B....IF it is bountiful....any stock ideas come to mind?....I know youre not a fan of ethanol...PEIX?
I suppose that short term, ethanol profits go up. But remember they need that huge crop of corn every year. So ethanol plants are always at risk.. And there are so many.
But as a trade it has some fundi basis, sure, if the chart is OK.
Not sure why I covered RSH yday.
Btw, don't be surprised if the beefers hit this before 10:30AM to try to paint a "false breakout". But I think real buyers will scoop up the stock & the beefers will bleed again.
GOOG cracked 550. On the weekly chart it shows a clean break up from an ascending triangle. The daily shows a beautiful bullish cup & handle that broke up around 500 and a smaller handle at 530. Long GOOG full position.
I figure GOOG is worth $900. It's got a dominant market position in a growing market. This is my last pump of GOOG.
Bud did you catch American History X on tv last night? that is a fine movie...ed norton very convincing...
I have seen that flic. I like it. Ed is a good actor. He was also good in The Score with deniro.
Uh ... guys ... Ed Norton was in the Honeymooners, played by Art Carney :-)))
spinny...see franco cut by the mets and at 48 he is tailor made for roster as you make your run for last place...lol
Hmmm. Just checked the MLB standings. Uh, the Cleveland Indians are moving. :-)))
Go Tribe!!!
Indians are very good this year. Grady Sizemore is a future star in baseball.
Bunkerman...what can I do to get under your skin today and send you to the range to burn a couple of belts? the nasty futures ripped 100 bps while you were making swiss cheese out of your W poster. peace bro xoxoxo.
lolol frosty. I was really good with the Uzi at the range. Absolutely expert class.
I'm really mellow today. I don't think much could do it ;-)
But I'm gonna load .308 belts this PM - about 2,000 rounds :-))
Maybe that will move things.
rofl......we're holding out for Nolan Ryan
FNSR at the nine day....someone should notice the potential 1234.
well Frostman...if you faded lefty today you are smiling about now
uh Mav...fade is a four letter word, let's clean it up a little....but then agian there certainly aren't any women in the places where Bud hangs out.
B'man that is so repulsive and repugnant that you joke around about an uzi. The only purpose of that weapon is to kill and maim. You make me sick.
this should be good exchange
Frosty I'm not lookin. I'm already taken. Hillary is my girl!!
Like I said a few days ago, Bud. It's good you didn't live in pioneer days. You would have gotten scalped. ;-)
Mav this is not an 'act'. I'm not sayin these things cuz I wanna have an 'exchange'. This is how I really feel. I hate guns. Rofl the 2nd amendment. Gimme a break. Bunch of guys who really are pussies buyin guns like they are toys. These guys really like guns and shooting?. Then volunteer and go to Iraq and help are young kids.
die NRA die !!!!
I, on the other hand, being knowledgeable about tomahawks, molding musket balls & firing a Pennsylvania rifle with skill, would have survived. :-)
Sorry Bunkerman. No way the Indians wud have scalped me. I am a friend of the American Indian. You on the other hand.......they wud have fought each other to scalp. Lmaoooooooooo
ROFLMAO. Uh Bud, a marauding band of Indians didn't ask who were their friends. They did it to other Indians, too, bigtime. If you weren't in their tribe, you were scalped or roasted.
B'man please put Bowling for Columbine on your netflix list. Tragic how easily the kids were able to buy guns and ammo in size.
It's a bit hard to understand how someone who rants & raves about bigoted cops wants to disarm everyone so only bigoted cops have a firearm. That's like bending over & asking for it. ;-)
Yeah, too bad the chicken swat teams sat on their butts for hours while more got killed.
Some parents might have been motivated to save them if the cops didn't prevent it.
So the solution to bigoted cops is to carry a gun? That sure sounds sensible. Sheeeesh
see... I said this would be good
Odd. The blacks after the Civil War wanted firearms in the South for protection against the KKK. I guess they were smarter. Some of the post Civil War laws provided them with that specific right, until the Southern Democrats gutted it.
ANGRY YOUNG MAN
There's a place in the world for the angry young man
With his working class ties and his radical plans
He refuses to bend, he refuses to crawl,
And He's always at home with his back to the wall.
And he's proud of his scars and the battles he's lost,
And he struggles and bleeds as he hangs on his cross-
And he likes to be known as the angry young man.
Give a moment or two to the angry young man,
With his foot in his mouth and his heart in his hand.
He's been stabbed in the back, he's been misunderstood,
It's a comfort to know his intentions are good.
And he sits in a room with a lock on the door,
With his maps and his medals laid out on the floor-
And he likes to be known as the angry young man.
I believe I've passed the age
Of consciousness and righteous rage
I found that just surviving was a noble fight.
I once believed in causes too,
I had my pointless point of view,
And life went on no matter who was wrong or right. OHHHHHHHH
And there's always a place for the angry young man,
With his fist in the air and his head in the sand.
And he's never been able to learn from mistakes,
So he can't understand why his heart always breaks.
And his honor is pure and his courage as well,
And he's fair and he's true and he's boring as hell-
And he'll go to the grave as an angry old man.
There's always a place for the angry young man
With his working class ties and his radical plans
He refuses to bend, he refuses to crawl,
And He's always at home with his back to the wall.
And he's proud of his scars and the battles he's lost,
And he struggles and bleeds as he hangs on his cross-
And he likes to be known as the angry young man.
One of the purposes of the 14th Amendment was to more expressly incorporate and apply the 2nd Amendment to the bigoted Southern state government. Congressional debate proves that.
Roflmao B'man. The civil war was fought in the 1860s. The country was young and judiciary/law enforcement was in it's infancy. We have courts and cops to resolve differences now. No need for guns. Anyway I'm gettin a headache from this.
Shut up spin.
What is that, spin, Bob Dylan?
rofl Bud
Billy Joel Bunkerman
Hmmm, hiding behind the bigoted cops and racist courts again, eh, Bud? Sheesh. I guess you were a liberal arts major - logic not a strong suit?? ;-)))
Hmm, Gun Owners Action League wants another contribution. Guess I'd better get the checkbook out. You got me going, Bud. We have a proto-fascist governor here, now.
Bunkerman....tne dollar going to hold the 04'lows? should it not would it impact your bullish thesis? Will hilicopter ben still be able to provide that bond market confirmation you speak of with lower fed funds?
I know Bud loves to talk the dollar as much as he luvs guns :)
Here are some stocks that I am holding for a takeover. The chart also has to be decent. AP RS CLF CVTX LGN . Chased a small amount of CF too. Looks like AA is gonna be bought out but I can't chase it here. I will post if I buy anything else before close.
The Fed has no legal authority to consider the dollar in monetary policy. They always defer any question to the Treasury.
Part of the reason for the dollar going down is that the ECB and BOE are raising rates. The dollar is doing fine vs. the yen.
The dollar index is about where is was in mid 2004. I don't think it's an issue for the FOMC.
No way would the Fed raise rates to defend the dollar. Congress would roast the alive next hearings. [figuratively hehe]
The dollar just is not a factor in US economic policy. Since ALL US debt is dollar denominated and US imports & exports are moslty dollar denominated, it irrelevant unless some very large change occurs quickly.
It affects individual industries & companies, though. Mostly a lower dollar is OK or not a big problem.
Oh yes...also small amount of VSCN.
B'man I agree with you on the Fed and dollar. It's none of their business. Unless Congress or the administration adds that to their 'job responsibility'. Dollar policy should be the job of the administration.
Btw, when I post my buys/shorts, 90% of the time the current price is better than what I have. I monitor a few sites and find it hysterical ( and useless) when someone says " long a bunch of ABCD from yesterday." LOL why you not tell me yesterday? That is useless info to me. If you like Frosty and you fade me .... well........than you don't care anyway.
Fed and the dollar. Where is mern?
Apparently I was wrong. Blackstone partners offset all taxes from the sale of shares. What a country!! Lmaoooooooo
I'd love to see the GOP fight tooth and nail against the dems on this issue. They will lock up the 'billionaire' vote if they do.
go GOP go !!!
Hmmmm ... maybe there IS a correlation between you guys baiting me and causing my BP to rise and the Dow. Two points make a trend lolol
Merrill analyst on Bubblevision says beefers are short bigtime in stocks. They could really get hurt. Awwwww, too bad.
the liberal media makes me sick....local paper headline...."house draws lines after Iraq report"....Obama yo mama pump on page 2 that the NAACP favors him as a canidate, no shit?....dig all the way to page 12 after another 11 pages of W bashing...."Team travels to watch reactor shutdown" North Korea halts atomic weapons program...now that is digusting.
if your not taking some profits today your not paying attention....Bunkerman, no need to reach for the bp meds, speaking to the virtual folk...lol
You know what makes me sick Frosty? Watchin our kids get killed and havin their limbs amputated in Iraq. All because our lowlife president won't admit a mistake and bring the boys home. When I become president I will instruct my attorney general ( mern ) to charge W and Dick with the manslaughter of 3000 GI's. Nancy cares about the boys and she gonna do what she can to save their lives.
PS. So apparently you get angry when you get drunk. Lmaooooooo
I'll be doin some serious.....uh....'substances' myself tomorrow night.
Nothing new about the liberal media, frosty. They've been bashing the US for over 40 years.
Anything good is hidden, anything they can twist to attack the US is page 1.
Anything a Dem does is wonderful, anything a conservative R does is attacked.
That's why I just read online news and WSJ and IBD. No NYT, no Boston papers, no TV news. Those outlets are despicable.
Anyone have any takeover plays? Only post if you own it.
I've held MRO & VLO and PCU awhile as takeovers. OK fundies, too.
takeovers or LBOs, that is. Long CLF, too.
Re the news outlets I mentioned, to paraphrase Gen. Jack Ripper in Dr. Strangelove, "I deny them my money".
I love that movie :-)))
trivia: what was the code prefix?
What did it mean [likely]?
Great week...I never try to take it for granted....Thanks Bunkerman....have a fantastic weekend everybody
Gong. Sheesh. Losers.
Code prefix was OPE
It was a variation of Peace on Earth or Purity of Essence.
So may be "Our Pure Essence" hmmm
or "Our Peaceful Earth" lolol.
Have a good weekend. Peace on Earth! lololol hehehehe
I haven't seen that flic B'man. I need to.
Hillary rally still going. Dems look good. GOP looks bad. The trend is your friend. Lololol
Post a Comment