Closing short position in Dine Equity at $46.12
SLV has taken a beating since peaking at $48. Yesterday's trading brought price to $21.96 before mounting a comeback and is up 4 1/2% in just two days. The overshoot of the 61.8% retracement level has been meaningful, so the discount for buyers is very good indeed. GLD has been racing higher since making it's low on April 15th.
What say ye fools? Are we staring at the bottom of the silver market? It looks like it to me. [more]
Stocks continued their decline from yesterday's high at 13,087 and have now fallen about 130 pts. from that high. Price is perched precariously upon it's short term white rally line and a good puncture through this line would signal that a steep sell off has begun. Fiscal Cliff meet Dow Cliff!
What say ye Motley Fools that a very steep decline in stock prices is immediately in front of U.S.?
It's always fun to catch market swings at their precise turning points and though I am very late in posting anything about the recent low, I've been kind of busy trading the low instead of writing about it. It does look like this rally will sell off a bit here, but the rally that began at 12,500 in the Dow is a classic setup for an extended rally to follow. As a general rule I use a series of technical charting indicators and a checklist, or book, which ranks probabilities as an actuarial. You'll see what I mean once you see the charts.
What say the Motley Fool Crowd of this early rally phase? [more]
Tomorrow markets will again begin a new crash, only this time there will be no long drawn out reflex rally as we saw from the March '08 lows. This one is going to be the famed 'throwing in the towel crash' of legend and will be absolutely brutal. I have no idea what the alibi will be this time, but I am sure our imaginative Press Corps. will come up with something, or perhaps more to the point events in the world are going to come to a head very quickly. There is even the possibility of a major nuclear strike against Iran as a result of their continued badgering of the ciivilized world since declaring their Revolution and taking American Hostages in 1979. Already money managers are closing deals on obtaining cash loans, some of which will be repaid quickly. This is the famed 'run to the phone bank' that occurs on the floor of the NYSE and is opined of seriously by the legendary speculator Jesse Livermore in his book 'Reminisences of a Stock Market Operator'. I've done these we will crash posts before and naturally the Bulls will always chime in with their opinions and controversies, but please use your good sense and ignore them. 'Forgive them Lord, for they know not what they do." Here's the link on the last crash call, you be the judge. I'm just trying to push the poor boy on the bike out of the way of a Bus the moment before he gets hit. Nemaste' [more]