i would say that is true with almost any person. listen to their ideas and what they have to say but don't be afraid to scrutinize what that have to say. not everyone is right all of the time.
True! Some of the recurring guests I enjoy on there are Dennis Gartman and Carter Worth (even though I'm not much of a technical trader). I wish they would replace Kudlow's show with Fast Money or swap timeslots or something. I get ill listening to Kudlow's "everything's rosey - we're not in a recession" talk all the way down from 14000 to 8000.
You guys looking at Apple again as it's down to around $87.57 after after hours trading? Seems like $85 was around where it took off back up last time.
I see AAPL mentioned quite a few times in this thread. What are the price expectations that potential buyers have for it? The market environment has changed and it will be extremely difficult for AAPL to even come close to its old highs in a timeframe under at least a year and likely quite a bit beyond that. With almost 900 million shares outstanding and a market cap of 80 billion, it would take another 80 billion for AAPL to double. If one is looking to play short term bounces, then that is a different discussion.
Yeah I know ... but while part of me wants to enjoy profiting from capitulation, the other part really wants to see a recovery because the worse this gets, the longer we all get to suffer its repercussions.
well there is pretty much no way around it. prices are going to go lower. stocks are simply overpriced and the credit bubble hasn't even begun to implode yet.
I'm ashamed to admit I just bought some accidentally... I had bought at $89 and sold at $103 during the previous sell-off. When I sold at $103, I put in an order to buy again if it drops to $89. I forgotten I had left that order active until I received my trade confirmation. I don't feel as strongly about AAPL as I did before, but I believe it will bounce up with the DOW if the DOW goes up. The only difference I worry about this time is tech is not looking to do well in the immediate future and if you consider AAPL products more of a luxury item with alternatives, then I don't know how they'll do well enough to meet expectations (even if they always sandbag them during every earnings report). AAPL is driven by the consumer and from all indications the consumer isn't doing well and won't be for a while. Either way, I didn't buy much... it may be a starting position for me. We shall see. I did, however, buy some more SDS and DXD last night... that's helping ease today's pain.
Crude Oil looks to have support around $47 - $48. Gold looks to have support around $680 - $685. It looks like possibly more overall pain until Crude reaches support. People inquire about the Dow Average and where it is going. American Express, Bank of America, Citigroup, General Electric and JP Morgan are down because of turmoil in the Financial markets. Chevron and Exxon are down because of the significant drop in the price of Crude Oil. Hewlett-Packard, Intel, IBM and Microsoft in the Technology sector are all down for several reasons. Walt Disney is down becasue of concerns about lessened consumer discretionary spending. Home Depot is hurt by weakness in the housing market and concerns about consumer discretionary spending. General Motors has significant issues to confront. Alcoa is facing weak demand for aluminum and has been reducing capacity. With at least 15 of the 30 Dow stocks having notable issues that will impair their stock prices for a while, a rapid rise in the Dow is unlikely. 3m Alcoa American Express AT&T Bank of America Boeing Caterpillar Chevron Citigroup Coca-Cola E.I. du Pont de Nemours Exxon Mobil General Electric General Motors Hewlett-Packard Home Depot Intel International Business Machines Johnson & Johnson JP Morgan & Chase Kraft Foods McDonald's Merck Microsoft Pfizer Procter & Gamble United Technologies Verizon Communications Wal-Mart Walt Disney
Just watching the DOW, you can see the longs and shorts going at it... I've been watching the thing fluctuate like crazy all day. This could be one of those hold your breath closings. Technical guys, would this be a triple bottom if we bounce back up?
Negotiating the previous 2008 lows, and it still looks weak. Can't even break past 10-period MA on the 30 minute charts.
Didn't you think the market was going up this week? When SKF goes between 180-200 it is unusally time to flip sides, but maybe this is different?
I've been sitting 100% cash for a couple days now -- the market has been rather hard to read. I've also decided that I've been falling victim to analysis paralysis ... looking back on the charts shows that there were still some clear selling signals that could have been taken advantage of. Still, even the most savvy traders are getting shaken out of their cash right now. Today's whipsaw action actually is a lot clearer to me than some of the stuff we've seen in the past. Clearly the bulls aren't going down without a fight, and the previous downtrend has been broken with this current rally. I'd watch 867 as a key resistance level on the S&P. If we break through that then we should see serious legs for a rally that should get to 900 at the least. The 10 day MA is still sitting around 925, so that would likely be the first major test... As I write this the market is already headed furiously in that direction.
Seems like people are dipping their feet in the water all at once and pulling back out. Is there any long term stock that's good to hold for long time?
For most individual investors that want to invest long term, single stocks are usually not the way to go. You probably would be better off long term investing in indexed ETFs that follow market indices as a whole, such as an S&P 500 index fund. It is traded just like a stock, but it is managed like a fund of all 500 of the S&P stocks. ETFs also have very low expense ratios so you get to keep most of any earnings that come back to you. If you want to get into the short term game, just watch this thread, there are some very active traders on here that are going to have fun with their tax return next year.
