Even though volume was light a very negative developement occured today. The 50 dma of the Small Cap, Nasdaq, NYSE, and Dow have been recent resistance. The Dow already followed through failing to regain this line and now the rest of the indexes have failed at this line. The close on Friday in the indexes show a confirmed failure to regain the 50 dma and a bearish break of recent support. Their was a slight positive to today's down action. The volume did decrease from yesterday and is well below the 50 day volume average.
While there are still some good stocks out there the better charts are shorts and the market is still acting very poorly. Weak sentiment numbers and Alan Greenspan was the highlights today for the "reason" the markets went down.
I tell you what. I am not sure if anything could happen in the US economy to make people think it is a good economy. For one reason the newspapers and TV are not going to help. Something tells me that if we had a Democrat in the office this economy would be on the front page of every newspaper as "An expanding economy with low unemployment, and tame inflation." Even with oil this high. I am too young to remember, but I am sure if I do some analysis about the media and the economy during the Reagan years I would find the same thing: Constant Negative Headlines.
If you are staying disciplined this year by cutting losses, taking gains along the way, and keeping cash on hand you are probably at worst flat for the year. Which is better than the markets current return of -3% for the year.
Until Labor Day take it easy. You know the market will.
New Swing Longs: SMBI SYNP CTCH NOVA ININ
Longs Outperforming Market: CPST PRLS MSO
New Swing Shorts: CAJ BEV USTR HARB TRMB ENB KNSY STX CBG AACE
Shorts Outperforming Market: CHS WIND WCI HHS MSA FED NCTY
Stocks On The Radar Screen: CTTY PNRG USEY HBE CLDA DLA
12 comments:
Yeah, you were good until you got into the political bs.
Seems like YOU'RE the one with a slant buddy.
Drop the "puna-butter" brah.
Study your history son and you will see the facts support my political bs.
I am not interjecting politics. I am simply stating facts.
Check any society that is growing currently. You will see that low taxes, ownership, and less government is the best way to create wealth and have a fantastic life.
Why do you think everyone who lives in Hawaii is poor? 40+ years of one party in control should open your eyes to reality BRAH.
Price controls at the pump in Hawaii. Another example of not learning from history. Does anyone remember Nixon and the oil crisis in the US in the 1970s???
I am not Republican or Democrat. I am simply a student of history and know the Democrat party of John F. Kennedy is over.
ALOHA BRAH
HOW NICE IT IS TO HAVE FACTS.
www.mediaresearch.org/biasbasics/welcome.asp
Just as I thought.
If you go to Media Research Center's website you can see the facts for yourself, anonymous.
They did a study of ABC, NBC, CBS, PBS, and CNN headlines describing the economy during the Reagan, Bush, Clinton, and Bush administrations.
Whether the markets were in uptrends or downtrends positive headlines triumphed during the Clinton administration while under the other 3 Republican admins negative headlines were reported on front pages at a 6 to 1 rate. It did not matter if the market was hot or not, during the Reagan admin and the current Bush admin the liberal TV media constantly highlighted the negatives while shunning the positives.
There are TONS of studies done by independant analyst that prove the TV MEDIA IS IS IS BIASED to the left.
Just like the media telling us how army recruitment is down. Too bad you dont here about reenlistment.
Everyone of the Army's 10 combat divisions has exceeded its reenlistment goal for the year to date. The ones with the most Iraq experience have the best rates. 1st Calvary Infantry 136% above quota, 3rd Infantry 117% above quota, 2nd Brigade of 2nd Infantry 178%, and the list goes on and on.
They know they are making history. Too bad the CNN, ABC, NBC, PBS, and CBS dont want you to know that.
THEY WILL ONLY REPORT THE NEGATIVE. Even if out of 100 stories only 1 is negative, you can guarantee that is the one you will get on your nightly news.
slant. yes I am slanted if the truth is what you call "slant."
History and Facts: The reason I make money consistently in the stock market.
GOD BLESS the free markets!
Anonymous, I await your rebuttle. But history has also showed me most people that leave comments like yours have no clue about how politics or economies work.
Falling back on a tired old right-wing "media bias" site. Surely you can do better than that. The media have been eating out of George W Bush's hand since he was appointed by the Supreme Court.
How about 200 billion $$ spent on a fraudulent war in Iraq. Man, that's a lot to spend on WMD's that were not there.
The media were harder on Nixon and Carter. They began to turn to lapdogs when big corporations began to buy up the major networks.
Aloha
The media is eating out of Bush's hand???????
Are you insane.
The public polls all over the internet show that the media is biased to the left.
That site was just the best ones with facts.
The media is a socialist group of has-beens.
Big Corporations started to buy news???? Are you kidding me. If I want to get any conservative news at all I have to turn on Fox News.
Thank God for Fox News or else I would be a mindless robot like the rest of my friends who can NEVER EVER show me facts to support their views.
If you think this war was built on lies. You are right. Lies created under the Bill Clinton White House.
The seeds of democracy that is being sowed in the middle east now will create freedom everywhere in the middle east.
Just check out the stock indexes of all the middle east countries. Do you think that is all oil related? Wrong. Countries like Egypt and Lebanon almost have no income from oil yet their indexes are up 100% the past year.
Democracy is taking fold, my friend, in the middle east. I point to the reenlistment numbers again as proof that the people on the ground know what is going on. I doubt they risk their lives everyday for a "war mongar" like GWB.
Also why does the media give zero credit to Israel for VOLUNTARILY leaving Gaza! Come on their is the bias right there.
The peace groups come out and blast every conservative group with their hate driven reforms. Then a country like Israel does something so amazing to help the Palestinians that the media says nothing.
SURE CNN ABC NBC CBS PBS arent biased!!!!! Just look at how they vote!!! 80% vote democrat. Oh yeah the news is going to be real fair with 80% of the journalist on national TV being Democrat
THANK GOD FOR FOX NEWS AND CONSERVATIVE TALK RADIO.
Oh BTW, I grew up a Democrat for 18 years. I was never a Republican until I studied history and learned the FACTS.
So you are dealing with an ex-Democrat. Good luck convincing me that the media is not biased. LOL.
I wonder why I do so well in the stock market? Investors Business Daily. What a great paper. You should read their editorial section every once in a while.
Aloha
This is a fun conversation. I only hope this doesn't ruffle anyones feathers.
This is my first fun conversation on this site and I welcome more.
:-)
I want everyone to remember all politicians are crooked. No party is perfect. Both sides make excellent and bad points. Make sure you never lose a friendship over politics. It just is never worth it when you are dealing with such a large group of people that are around a lot of money.
If the government really cared about us they would just tax us on a flat basis of income or purchases and remove the IRS, tax accountants, and all the write-offs businesses make to scam the system. But you will never see that because so many special interest groups pay enough money to keep us under the same routine every April of every year.
Sidenote: Also what is with the DMV? Why would you want everything in your life to be run by the government and work like the DMV.
Aloha
$200 billion for a fraudulant war? I'm sorry you cannot grasp the price of freedom. I think it is a joke that certain people in our government are so selfish that they use their own freedoms to deny others the same freedoms they are excersizing simply because it does not benefit themselves. $200 billion? That's a drop in the bucket. There are many people in the world who would give their lives to enjoy 1 day of freedom that we enjoy everyday and take for granted.
Yes, I can tell you read Investors Business Daily. I don't need it.
I can get plenty of right wing editorial commentary down at Sam's Pub. When the laid off factory workers come in and get drunk.
For any middle class American to vote Republican, is like the chickens voting for Colonel Sanders.
Cheers :)
You can look at census records. It shows the middle class votes Republican. Because the middle class knows that too become wealthy and have a good retirement you need to keep your money. And right now it is only the Republicans who want YOU to keep your money.
I worked at a factory growing up. Get over it, get an education in a better field, and find another job. There are plenty of jobs out there. I worked at a pizza place, restaurant, sunglass shop, and many more average jobs.
Suck it up and move on with your life. Go back to college get an education and work a part time job. If you spend wisely and save smart you can be anything in this great country.
Also drinking your hard earned money away is not a good way to invest in yourself. Instead that money should be saved or spent on an education.
While we waste our time on this think of all the outpouring this country is going to give to New Orleans, MS, and AL. Do you think any other country is going to help us? Maybe some, but I doubt too many. Just like every other disaster we have.
I want to reiterate one more time:
I am not a Republican or Democrat. I am not happy with George W. Bush but at the same time do support the current war against terrorism.
I am simply for low taxes, free speach (for all religions, EVEN CHRISTIANS), less government, and ownership.
I love getting to keep the money I work for and use it the way I want to. If it is giving it all to charity, investing in the USA stock market, or buying my kids a new toy it doesnt matter. As long as I get to choose.
There are necessary taxes, dont get me wrong. But to tax too much, get terrible government services, and lining the pockets of career politicians and special interest groups is just not something I am going to vote for.
And if I want to vote for lesser of the two crooked parties. I choose the less crooked that actually wants me to keep my hard earned money.
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