It is not nearly liquid enough for most of the recent posters in this discussion. Quite a few of them trade large accounts and thus look to take good sized positions. Getting in and out of penny stocks quickly & neatly while doing size is very difficult.
The bulls could not get past the 1085 level. We are still in an uptrend, but the next level to the south will be 1063.
I disagree. Jobs are not returning and growth (3% GDP instead of 3.3% GDP) was down using the government metrics provided this morning. Easy money makes everything look good. There is only one way for this story to end. And that's with debt destruction, not creation. I'm still quite bearish. I think the 1120 level is a good time to go short. Don't be the one left without a chair when the music stops.
The market goes up when there are more buyers, and goes down when there are more sellers. Everything else is irrelevant.
That reads like the reasoning of a <i>Buy & Hold</i> person, but most of the people posting in this thread lately are either Swing Trading or Day Trading. Perhaps there are plenty of <i>Buy & Hold</i> types that are reading, but not posting here. Also, a fair amount of the trading in the Market is computer driven and likely using far different criteris than what you suggested to make Buy -- Sell deecisions.
Robbie, I merely give you the levels which to buy and sell everyday. 5/25 @ 2:33 p.m.- Very nice bounce today. We may take the elevator up to the 1085 S&P level on this move. But, I agree with everyone else the long term move is down, way down. 5/26 @ 2:26 p.m.- The bulls could not get past the 1085 level. We are still in an uptrend, but the next level to the south will be 1063. Today @ 9:42 a.m.- This leg up should bring us to the magical 1120 (1118 by my calcs) level again. So, yes it will be something different everyday. Once I hit my target price I enter a new position (either up or down depending on which way my target is). Right now I have calls (entered in on S&P 1070, which I will hold until S&P 1118).
i know you are just looking at the charts, but you are trying to make some sort of technical call with each whip of the mkt without waiting for some sort of support or resistance to actually develop. it comes off as something like this....if we sell off then it means we're going down a 100 s&p points. if we go up then we're going up 100 s&p points.
Robbie, My chart technique gives me the support/resistance levels before hand. That's why I can tell you what they are before you see them. I think your making my technique to complicated. I'm an engineer; it's all about charts, angles and formulas over here. I don't have time for CNBC or any other BS on TV. Because frankly all that stuff is just noise. For me it's just buy and sell at the levels that are calculated for me. I may not give the exact bottom or top, but it will be within 5 S&P points.
You have cited some positive economic metrics, but some others might not be nearly as positive. Here is an example: Home Sales Set to Plummet in Markets Hit Hard by Foreclosures <i>New home sales in Phoenix and Las Vegas, two U.S. markets hardest hit by foreclosures, are set to plunge as a federal tax credit for homebuying expires, according to data from real estate researcher Metrostudy. A sample of subdivisions in both cities showed sales contracts for new homes “pulled back sharply in May and contract cancellations spiked,” Houston-based Metrostudy said in an e-mail. Would-be buyers canceled about 40 percent of new home contracts in San Diego in May, up from 10 percent in April, the company said. Data on new signings in that city weren’t immediately available. Sales indicators fell after April 30, the last day for homebuyers to sign contracts in time for a federal tax credit of as much as $8,000 for first-time purchases and $6,500 for certain “move-up” buyers. The deadline may have hurried customers to snap up properties when they otherwise would have waited, said Brad Hunter, chief economist based in Palm Beach Gardens, Florida, for Metrostudy. CBH Homes, a Meridian, Idaho-based builder whose average house price is about $145,000, countered the post-tax credit slump with a one-month “Tax Credit After Party.” It’s offering as much as $8,000 in savings for signing a contract in May. “Think you missed out on the tax credit? THINK AGAIN,” the company says on its website. “Buyers have a certain mindset,” Holly Haener, director of sales and marketing for CBH, said in a telephone interview. “They want to see that savings.” Phoenix Falls <b> In Phoenix, contracts in the subdivisions surveyed by Metrostudy fell almost 49 percent for the week ended May 24 from the same period a year earlier, Hunter said. More than 8 percent of Phoenix households received a notice of default, auction or foreclosure in 2009, ranking the city the eighth worst in the country, according to Irvine, California-based research company RealtyTrac Inc. </b> Signed contracts in Metrostudy’s Las Vegas subdivisions dropped 12 percent for the week ended May 24 from a year earlier. They climbed 220 percent in the last week of April, an indication of buyer interest in capturing the tax credit before it ended, Metrostudy said. <b> Las Vegas had the highest rate of foreclosure filings in the U.S. last year, with 12 percent of households receiving a notice, according to RealtyTrac. </b> U.S. Property Sales The tax credit helped push U.S. new home sales up 15 percent in April to the highest annual pace since May 2008, the Commerce Department said May 26. “We had this large spike before the tax credit expiration and now we see the downside of that,” Hunter said in an interview. “Based on this research, it seems that a post-credit pullback is under way.” Larry Seay, chief financial officer of Meritage Homes Corp. of Scottsdale, Arizona, said demand has dropped across the company’s markets, which include Phoenix, Denver, Houston, Las Vegas, and Orlando, Florida. “The tax credit during the first four months of the year did positively impact sales,” Seay said. “We’re seeing a bit of a fall since then.” ...</i>
Robbie is the only knowledgeable, real trader in here - sometimes I wonder why people don't listen more and on the flip side, why he bothers to come here I recently bought vietnam ETF, VNM. I'm hoping it will somewhat reproduce the long-term performance of ETFs like Indonesia IDX and emerging market funds - thoughts?
I purchased that a little while ago. I've been looking to purchase a vietnam fund a few years ago but i couldn't really ever find anything listed for a long time. Mostly just for sentimental purposes, I really enjoyed traveling in vietnam. Swapped it out for Singapore fund or something. Vietnam still has a fair share of catch-up growth to match Singapore, Thailand, Malaysia etc so who knows, maybe a good long term bet. But maybe not. Whatever.
