too much bad news no 87 scenario yet

General discussions about futures.
BARLI
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too much bad news no 87 scenario yet

Post by BARLI »

Lehman 159 year old bank went bankrupt, S&P500 went down only 4 %.. Lehman's debt is around 639 billions.. When LTCM went bankrupt S&P 500 went down 8% in one day(August 31 1998)....it seems like too much noise but no brutal action..Of course SEC came out with no naked shorts anymore but it doesn't seem to worry traders.. I expect S&P 500 at 1100 level during next week
BARLI
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short selling is banned in UK

Post by BARLI »

regulators do what they want to do and we just have to adjust...gosh, Royal Bank fo Scotland is up 40%, UBS about same percentage. Looks like no one will have a chance to short sell anymore. thats not fun!
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Post by sluggo »

Banjoplayer says (link)
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RedRock
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Post by RedRock »

sluggo wrote:Banjoplayer says (link)
Thanks for the reminder.... And thanks again ED.... Needed a reason to laugh when I logged on today... ha :)
7432
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Post by 7432 »

pretty tough to file the news when the government is taking the first steps toward nationalizing the financial sector.
seems the same as chavez nationalizing the oil industry.
ahh, the road to serfdom is a smooth ride.
BARLI
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Post by BARLI »

the news didn't really help the markets yesterday when they tumbled 4%..I am still bearish..here in Israel real estate index went up on the bailout news 32% during the day, its total MADNESS! Madness should be shorted..I am sceptical that the senate will aprove the offer of 700 billion bail out, Bush doesn't seem to decide anything anymore..watching Bloomberg now, senators don't seem to aprove the plan...
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Post by AFJ Garner »

I am with banjoplayer.
BARLI
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Post by BARLI »

getting closer to 87 scenario... -8% so far
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Post by Nussgipfel »

Love that song! For what it is worth using Gann cycles a low could be coming in on or about 10/10 or 10/13.
BARLI
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Post by BARLI »

hi Nussgipfel, some Gann students I talk say October 7-th is next low, today's (Oct 2-nd) high in US indexes...
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Post by Nussgipfel »

Thanks Barli. Either way it seems that we are in the final stages of this decline or so I hope as there is some real suffering here on Main and Wall Street. Amazing how we got here and all the things that are happening which no one would believe only 6 months ago! Simply amazing and fascinating to a certain extent.
BARLI
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Post by BARLI »

its not done yet...
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Post by Asamat »

BARLI wrote:its not done yet...
I agree, more is to come.
Nussgipfel wrote: ... it seems that we are in the final stages of this decline ...
What makes you think that? Usually, as long as people believe or hope it'll soon get better, it's not over. It only get's better, when none are left with optimism. Then they ring the bell ... or don't they? :wink:

Regards,
Asamat
BARLI
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Post by BARLI »

DAX will be on fire tomorrow with HRE with no financing from german banks..seems like no one seems to care there: Bundesbank said that private banks should provide financing, but private banks said: why the theck should do that? 400 bln balance sheet with bad mortgages, thats quite a mess to bail out
Asamat wrote:
BARLI wrote:its not done yet...
I agree, more is to come.
Nussgipfel wrote: ... it seems that we are in the final stages of this decline ...
What makes you think that? Usually, as long as people believe or hope it'll soon get better, it's not over. It only get's better, when none are left with optimism. Then they ring the bell ... or don't they? :wink:

Regards,
Asamat
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Post by nodoodahs »

Asamat wrote:Usually, as long as people believe or hope it'll soon get better, it's not over. It only get's better, when none are left with optimism. Then they ring the bell ... or don't they? :wink:

Regards,
Asamat
SOMEBODY always has optimism at the bottom. You know how I KNOW this?

Because there was a tick there.

Every share or contract sold has a buy at the same price. Hence, the low point of every move has somebody optimistic about price action in the future.

The whole "sentiment" thing is greatly misunderstood. It's not about a preponderance of opinion, it's about preponderance of opinion among holders of STUPID money.

By the time the shoe-shine boy is excited about stocks, the move is soon to be done. By the time the mainstream press is full of doom and gloom, ditto, the move is soon to be done.

BTW I include anybody that is forced to sell by margin calls or poor position sizing / risk control as STUPID money, even if they run a hedge fund or I-Bank.
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Post by Nussgipfel »

I do not know if the decline is over.......far from it! I only stated that if you are using W.D. Gann cycle work then one has to look into the POSSIBILITY of a potential low in the market going into the 10/10 or 10/13 time frame. The market being down for almost one full year is quite a long time which of course does not mean it could not go down longer and more.

In the meantime you might want to check how many times we found a change in trend over the past years around this time ...it is quite remarkable. Also the low in 2002 was pretty much to the day on this date and so was 1990. Just a possibility not more and not less. Also even if true the low should be tested as they usually are hence no need to try to catch the falling knife to go agressiveley long anyway.
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Post by BARLI »

seems like today is going to be a bad one, possibly monday will be the same just like it was on 1987 Oct 16 and then Oct 19-th
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worst oct since 87

Post by freeman »

MarketWatch Bulletin

Major stocks close month down 14-17%,dow has worst October since 1987.

Spot on Barli
BARLI
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Post by BARLI »

Indeed horrible month for stocks, but no selling climax yet.. I am looking for something that happened in China, Phillipines during last week, around 12-15% drop during one single day. Its on the way after the correction ends. GDP that'll come out in 2 months will be very negative, some analysts even forecast -4%, probably will be -2%, the rest of the fundamentals are still extremely weak. Paulson was buying local banks and insurance companies, its ridiculous, this clown got 700 mil$ net worth from Goldman Sachs and now wasting taxpayers money to bail out his friends from GS, I wonder how much GS is paying him for doing this favor or is it commission based scheme?
GS:"Hank, if you'll get us 100 mil$ rescue package you'll get your 10%".. 8)
BARLI
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Post by BARLI »

I expect a big drop until Nov 18-th.. then it should go up. Around March 26-27 should be a low... see attached, the work's been done with Neural Network's help.. we'll see if this it true


Image
Last edited by BARLI on Sun Jan 04, 2009 11:50 pm, edited 2 times in total.
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