Ding Ding Ding.. game over for this week.

DJ 9321.40 -76.79 -0.82%
NAS 1985.52 -23.83 -1.19%
S&P500 1004.09 -8.64 -0.85%

Ok. The bears gave back some points at closing but overall, bears still won this week.

Two weeks ago, the weak consumer confidence report has no effect what so ever. Bulls still stampede.
Today, the same weak consumer confidence report scare the shit of the bulls. They retreated.

The way stocks being sold off early show how fragile and jittery we are at this level.
It clearly shows the market is already top heavy, getting ready to roll over.

Oil stocks sold off big time today.. crude drops from 70 to 67. May we see 60 next week?

But, the banks remain resilient. BAC upgraded C.
IMO, it is absolutely ridiculous that a bank upgrades another bank.
Another evil govt PPT at work here.

It will be interesting to see how things will fare next week.

This post has been edited by danmooncake: Aug 15 2009, 04:48 AM

It may want to see 0.70 first. Be ready to stomach through this.

This post has been edited by danmooncake: Aug 17 2009, 12:02 AM

General Bears and his army will continue carnage this week.

http://news.yahoo.com/s/nm/20090816/bs_nm/..._stocks_outlook

Earnings coming to end.. what else to rally.. right?
Time for Bears come out and play.

Glad to see some bears here. .All aboard.
Let's all ride this baby down..yeah!!

Be patience, grasshopper, be patience.
Don't fill the gaps so fast. Let the panic selling subside first.. wait for the lowest dip
and let price move up a couple of ticks upward.

The next drop to 200MA could be nasty. We'll see if there is any panic selling.
Commodity prices could be pulling back big time.

Already warned you guys about General Bear campaign since last week.

Shanghai and Dow are so overbought.
Even the news that Japan that is coming out of recession means nothing now.

This week is carnage time, clawing and slashing time!!

I see a possible 10%-15% retracement for DOW for the next week or so.
Meaning, some of those stocks have been out-performed may also see more pullback.

So.. we been saying that we will depend on China on recovery. Everybody was bullish about China.
Now, China has been pulling back for the past 2 weeks.. lost over 500 points and it is not done yet.
It has been double top. It is going down!

Therefore, Dow wants to follow China now.
Dollar has been low and bottom. Dollar going up now!

Yes, the idea is the spend themselves into prosperity.
Now.. why didn't we think of that huh?

I wouldn't be so fast to pull the BUY trigger yet if you're long. When I said 10%-15% pullback, it means on general indices. Since some volatile stocks have moved up more, they could move down even more.

Stocks are clearly overbought.. hence the excuse here now are the retracement, profit taking, consumer sentiments.. all lump into one.

We shall see if there are buyers later at closing and if are, that means sideliners are still waiting.
If not, we'll continue to see down trend tomorrow and perhaps through the rest of the week.

Meanwhile, I'll just let my remaining shorts ride the bear.

Oh yeah! Down Baby Down!

Looks like Hurricane Bill is brewing along the bermuda coast heading towards southern US coast soon or gulf of mexico. If this turns into cat 5, the oil bulls will get a break. If not, oil will certainly re-test 55-60 range.

This post has been edited by danmooncake: Aug 18 2009, 12:19 AM

LIONCrap?

Mid day trading, DJ still at minus 3 digits: -170, S&P: -22, NAS: -50
No sideliner buyers. No PPT.

End of Day Update

DJ 9135.34 -186.06 -2.00%
NAS 1930.84 -54.68 -2.75%
S&P500 979.73 -24.36 -2.43%

Wow! No signs of buyers after the big unload this morning. At closing, we went down even further.
Dow got hit with rapid sell off in commodity and energy stocks this morning. Oil was hit bad. Now down
to around $66.

Normally, I would expect the bulls to come and pile back in but today is completely different.
No buyers even at end of day. It does look like the tide is turning here.

Funny how one little report last Friday - consumer sentiment was able to spook everyone off.

For the past two weeks China has been selling off already. Last Friday, we have confirmation when US consumers not spending as much, China continues to sell off even more. Maybe people finally coming to their bearish sense for real this time?

I think we'll continue to see some more downtrend from here.

This post has been edited by danmooncake: Aug 18 2009, 05:42 AM

I've peeked out from my bunker, I see rays of hope for Bears.



This post has been edited by danmooncake: Aug 18 2009, 06:58 AM

Even though I'm bearish, IMO KLCI @ 870 is pretty ridiculous call.

Haha! What a joke! The whole world can also see growth in Q4. Growth as in "anemic".

This post has been edited by danmooncake: Aug 18 2009, 08:47 AM

Maybe they're thinking their BUY orders can go through the time machine that can send it back 6 months ago.

This post has been edited by danmooncake: Aug 18 2009, 08:49 AM

Well, I'm not the only one.. couple of us here already playing US market. More "syiok".
Just tired of being 'ikan bilis' in local market.

This post has been edited by danmooncake: Aug 18 2009, 08:54 AM

Nah.. bulls have 4-6 weeks of run..it is bears chance, we wanna see at least 2-3 weeks.
Must at least take back half of bulls got.

This post has been edited by danmooncake: Aug 18 2009, 08:56 AM

I wish that is true but in reality, I know it won't because the PPT won't let that happen.