I've updated the sector spreadsheet. You can find it here.
GaryK (mix of quote/paraphrase, but all included in the quote box). I missed the first couple of minutes:
GaryK (mix of quote/paraphrase, but all included in the quote box). I missed the first couple of minutes:
Doesn't like what he sees.
Distribution today in the market so soon.
Leaders are breaking down.
Great time to sit back and protect your capital.
The way the market is acting; I'm not sure that we've seen the bottom.
Bigger problem--very bad bar--ugly sell at 3:40p.m. Not pretty at all.
If the financials are getting in trouble; there is not chance that the overall stockmarket will continue higher.
I've never seen real bull markets without the financials.
Calls this a nascent rally. (your editor's comment: He's proud of the word, but mispronounces it--says it like the first syllable pronunciation in NASA. Should be nay-scent. I look it up on Dictionary.com--they have one entry showing that to be a alternate. I've never heard or used it that way. I quell urge to e-mail. Another does, and he corrects. All is write in the English language now!.)
Leadership names are getting in trouble.
Happening so soon after a f-t day is not good.
He's very wary of this confirmed rally.
Fed bashing--(your editor omits)
No body knows what tomorrow brings. All you can do is control how much you don't lose.
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5 comments:
Here is a link that should give you a broader idea of how much trouble we all are in.
http://www.jsmineset.com/cwsimages/Miscfiles/5954_Iceland.pdf
William B
I took some profits today on the QQQs and REITs. I don't like the action there at all, esp in the foreign REITs.
Agree with GaryK but have the suspicion that tomorrow may be a bit different.
Cat
Gary K also commented that in an interview on CNBC, Obama allowed as how he could see doubling the cap gains rate and lifting the cap on FICA earnings that are taxable from $97k to an unlimited amount.
Bruce
Bruce--Yes, he did mention that, but I'm not giving verbatim commentary. So political commentary (regardless of how relevant some feel it is to the market), Fed bashing, Cramer bashing or sports commentary will be omitted from my comments. I'm just trying to provide a cursory view as a courtesy and service to readers.
Dumped my last longs this morning. Blech.
Cat
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