Yesterday's market action was intriguing. The midday drop was scary, but the turnaround dramatic. My interpretation is that the beefers tried to push the market down to create fear and to probe for new sellers to scare out at lower prices. As stocks trade like commodities nowadays, that old commodity tactic of pushing a price through a logical place for stops occurs in stocks now, too.
So the beefers tried a bear raid, but found no new sellers and probably a few "real" buyers came in, too. After that, it was time to cover the shorts and I suspect some beefers with sideline cash came in as the "re-test" held.
That's it. Don't read "fundamental" interpretation by that demi-god, the "market" into the move.
Actions
Doing nothing. I was tempted to buy more FCX as under $22 was my price area, but decided I have enough. I don't want to get too long in this wild market.
PS: I supose this is bad luck, but decided to add a bit to FCX today on the pullback. I did some research on the stock early this AM in response to a question from a friend and felt better myself. I have room for a bit more, either later today or whenever I get a good price.
Word of the Day
"Dead-house" or "Deadhouse" - noun [ $100]
Deadhouse means a morgue.
Sentence: Based on the lack of response to their begging for handout, Chrysler seems headed for the deadhouse. GM and Ford may follow soon.
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45 comments:
omg.............are you for real Bman ???
to quote ronald reagan......"there you go again"
beefers weren't trying to 'create' panic or anythin like that yday.......no need to 'create' anything......there has been panic in the markets for the last 2 months
beefers are in full survival mode.......they are gettin devoured by the lions in the jungle everyday
Thanks to jim I won't be headed to the 'deadhouse' for now . Keep up the good work !!!!!
Oh, Bud commodity traders do that all the time. Lots of beefers are bears or in cash and love to short, so "they did it again".
My point was the bulls might be "sold-out", so no new sellers appeared on the break.
beefers aren't always in a herd moving together. Some wolves are loners and try to pick off the weak and tired.
Maybe they were trying to create more margin calls among the weaker "breathren" but it didn't happen.
can a loner wolf scare a herd of elephants ?? no
i know i'm a city slicker........but i have watched the nationalgeographic channel
animal planet a good channel too
what did jim say to help you sir?
not a lone wolf, but a wolf pack attacking a herd of bison can.
Dear Volt enthusiast:
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Thanks
Lyle
please go take a nap Bman
Bunky...everyone thinks G-20 will have no impact, that we are doomed regardless...the tape says to me we have a bottom in for the year...I see no reason to press the darkside through thanksgiving, is it time for the bears to feel some pain...isn't that what bear markets due..far to one sided.
That's roughly my opinion, frosty. We are obviously doomed.
The TARP is obviously working, but the bearish mentality has raised the bar been raised to making the economy perk up. Hence the bouncearoo
My thinking has been that the early Oct lows are the lows. Breaks are just beefer wolf manipulation to run stops of other beefers.
They are pounding each other to smithereens like drunken gangsters in a speakeasy.
lmaooooooooooooo
lemme get this right
beefers are gutting other beefers ??? wouldn't that be a 'sum equals zero ' situation ??
uh ... Bud ... every football team has the same number of players. Does every game end in a tie - a zero sum game ?
Over center field wall ...
thanks for the fat pitch
;-)
MVP MVP MVP!!!!!
ooops.....
' we like you Bud.......and we know u try hard......but we gonna send you back to the minors.......tripleA scranton.......you need to work on your pitches'
you cant handle Triple AAA Scranton.....goto London Patrick plays whiffle ball.... throws underhand......lmaoooo
rutgers +8............they were good to me last week......i'll keep ridin them
uconn -10........they playin the 'cuse....see above
texas -13.5.........horns need a big win to stay ahead of the sooners in the bcs rankings
georgia -10.........tommy tubberville to clemson?
maryland +3......don't need the points......terrapins outright win
PS......are you f'ng kidding me ?? cyclones gettin 27.5 at home to mizzou.......no respect.......we'll remember this when we turn the program around
small add FCX. Room for a bit more later.
Patrick plays cricket, I believe, not whiffle ball....
Von Mises indeed...
Bunkerman what stocks did Mrs B pick up yesterday?
I like it Bud...ride Rutgers out of the abyss....Big East is really tough this year...a war every time you suit up....the depth is astounding in this league...
lmaoooooooooooo big east
my 12 yr old nephew's skateboarding gang hits harder than the linebackers in the big east
it was tough to write that without laughing....
lmaoooooooooo
wake up Mav...Duke not that bad this year....
mav is gettin nervous
phil fulmer front runner for clemson job now........charlie weiss makin a late run too
she bought some DOW and LLY.
Passed on a few ... really was not too anxious to buy.
Would have bought some JPM, but I asked her to wait for my small wash sale loss to clear. She'll hold for years, so did not want to lock it up - represents real money for me.
DOW...beautiful....I like the way she thinks...
'hold for years'
huh???? people do that ?
her broker is a full service place - trading there is death by many cuts.
lol, I mentioned GE to her but that crappy washing machine & poor service killed that idea.
The objective of her account it to develop investing knowledge & skills in case I am hit by a truck & she becomes a rich widow - target of many scams.
It's working quite well.
Yankees to offer CC Sabathia $142 million...
I thought this was a recession?
I suppose some (!) might call me delusional, but it seemed the beefer wolf pack tried again today.
careful Bman..............don't teach her too much
there's alot of firearms in your home.........she might speed up that widow process
3 year deal for CC??..lmaoooooooo
owwwwwwww my arm
email down...please remind me to short CMCSA next year.
this marke tis really nuts - I see 1% moves every 5-10 minutes.
bison were about to stampede into the close
f'ng couple lone wolves scared them away
PS....bring back the uptick rule !!
yes, you are learning, Bud, to see the sign of the beefers ... their tracks, their scat ...
;-)
bison are very, very nervous ... pull bids at the faintest sign of the wolf pack.
hmm next week is option week - gosh, we sure need more volatility !
guess lots of sell market on close orders.
enjoy "le week-end"... getting close to martini time.
MOOOOOOOOOOOOOOOOOOOOOOOOO
thanks jim!!!
enjoy fellas thanks alot
let the Bunktini's flowwwwwww
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