Memo to Jim "El Capitan" Cramer: Unless I am misinterpreting your comments, Jimmy -- you cant have it both ways. You can't admire a strong close but disregard a weak one -- from my perch! Again, I see the makings for an important top at these levels. Away from my fundamental view of a vulnerable consumer (and the specter of higher interest rates, a surge in energy prices and rising tax rates which argue in favor of a 2010 double dip), it remains my view that the U.S. stock market is ahead of the real economy and that the recent ramp has discounted the short-term production boom I discuss in today's opener. Technically, the foundation of the Nasdaq -- that you admire -- are increasingly unsound, and the index appears to be rolling over. Finally, the leadership and breadth are narrowing. Position: None
Indexes are showing possible rally during the day, but IMO< just another SHORTING OPP
Its impossible to say why it happens, but on rare occasion the 258cycle becomes a pivot for further declines, as it did at 3pm yesterday. maybe because the cycle shifts to 329bars which would take a low today to 2:30
OR maybe the influence of the 3pm hourly TURN cycle
whichever it is doesnt really matter, except to realize an important turn has occurred.
Once the mkts open lower today as the futures seem to say, we can then probably see a rebound to a midday day high, but Personally < I DOUBT we will see any higher highs than yesterday
the PROPENS index shows TODAY"S close in COLLAPSE
90bars hits at close and OR open Monday indicating a severe sell off possible at both points.
CNBC commentators some have been on the show for 20 years- AND THEY STILL HAVEN'T learned a THING about the markets.
they want KNOW WHY & just like I wrote yesterday People want to know WHY
Theya are there to give them the OBVIOUS ANSWERS
DOLLAR IS UP that means OIL off 1.70 hooray & GOLD now breaking DOWN to 936 but why stocks- they dont know Maybe today's IRAN elections will maintain the status quo, and thats the reasons why stocks are falling?? BAAAH humbug but it sounds good.
FRED says TOP is IN or NEAR
FYI
ReplyDeleteyou have another freind --the famous bull
Doug Kass (comment from BUll)
Memo to Jim "El Capitan" Cramer:
Unless I am misinterpreting your comments, Jimmy -- you cant have it both ways.
You can't admire a strong close but disregard a weak one -- from my perch!
Again, I see the makings for an important top at these levels.
Away from my fundamental view of a vulnerable consumer (and the specter of higher interest rates, a surge in energy prices and rising tax rates which argue in favor of a 2010 double dip), it remains my view that the U.S. stock market is ahead of the real economy and that the recent ramp has discounted the short-term production boom I discuss in today's opener. Technically, the foundation of the Nasdaq -- that you admire -- are increasingly unsound, and the index appears to be rolling over.
Finally, the leadership and breadth are narrowing.
Position: None
Indexes are showing possible rally during the day, but IMO< just another SHORTING OPP
ReplyDeleteIts impossible to say why it happens, but on rare occasion the 258cycle becomes a pivot for further declines,
as it did at 3pm yesterday.
maybe because the cycle shifts to 329bars which would take a low today to 2:30
OR maybe the influence of the 3pm hourly TURN cycle
whichever it is doesnt really matter, except to realize an important turn has occurred.
Once the mkts open lower today as the futures seem to say, we can then probably see a rebound to a midday day high, but Personally <
I DOUBT we will see any higher highs than yesterday
the PROPENS index shows TODAY"S close in COLLAPSE
90bars hits at close and OR open Monday indicating a severe sell off possible at both points.
As the Captain said
MAKE IT SO
Jay
Jay,
ReplyDeleteGood to read your comments.THANKS.
Just a quick question plse, You wrote Power Index for today 300-500-400..assuming this is still same?
Also, NEXT WEEK nothing changed? Still looking at SELL OFF LOW on 17th and BUY on 18th running to EOM?
Apprecite your work as always!
Pete
CNBC commentators
ReplyDeletesome have been on the show for 20 years- AND THEY STILL HAVEN'T learned a THING about the markets.
they want KNOW WHY
&
just like I wrote yesterday
People want to know
WHY
Theya are there to give them the OBVIOUS ANSWERS
DOLLAR IS UP
that means
OIL off 1.70 hooray & GOLD now breaking DOWN to 936
but why stocks-
they dont know
Maybe today's IRAN elections will maintain the status quo, and thats the reasons why stocks are falling?? BAAAH humbug but it sounds good.
Jay
Jay any comments for later today afternoon?
ReplyDeleteWhat is your final index reading for Monday please.
Thank you and be blessed.
pk