Comments on: Intraday Commentary ~ 11/04/2009

By: Tom

Tom — Thu, 05 Nov 2009 19:58:00 +0000

I started looking for some luxury cruise “deals” and am finding that most of the ships
in January are almost sold out. These are the high end lines such as Seaborne, Celebrity etc. Where is this big bad recession?

By: Jim Cramer

Jim Cramer — Thu, 05 Nov 2009 16:44:07 +0000

Retail money wants to play the year end rally. We go higher. Little fade this afternoon to draw in more shorts. Then BAM. Close over 10k.

By: JON

JON — Thu, 05 Nov 2009 06:25:30 +0000

Shady. if you look at the majority of the stocks (excluding health care) you will notice that they are about 10% lower where they were few weeks ago with some exceptions.

Health care was lagging and now they are coming up which is why they are keeping the dow in + territory.

By: JON

JON — Thu, 05 Nov 2009 06:23:01 +0000

Zeeshan Bhai! Well said. Bears who missed out on the last upturn now want in . They want the market to tank so they can buy at the lows..GE at 6 and Citi at .97 LOL. The second week of march was an opportunity of a life time to buy stocks of companies at ridiculous prices.

Those who think Citi is bankrupt and should go away needs to get their head examined. Citi has a HUGE foot print world wide and it is a BRAND name same as BAC in the US.

I know unemployment is close to 15% but the rest of the 85% are still working and spending. I am all up for a 10-15% correction if that ever happens I am will buy with both hands if we ever get there.

We all need to make money BEAR or BULL. Analysis is the key and bears lack it at this point IMHO. If we were having the same conversation last year I would have agreed cause the news was bad! credit spreads are all out of wack and people were scared.!

GLTA

By: shady

shady — Thu, 05 Nov 2009 04:57:37 +0000

Zee,just for the record,I am not talking crash the last 2 months,I think a 10% correction is at most 10 days away.Lets say 950 from there(mid Nov) I would then think we ralley to 1150 to EOY.Now going into January to June we test and break 2008 March lows.

By: Rick

Rick — Thu, 05 Nov 2009 04:55:52 +0000

I noticed POMO days started in March and they exhausted the last few billion of that 300 billion dollar fund just recently on a Thursday when the market rallied over 200 points. Strange coincidence that the whole rally started about the same time as the POMO days isn’t it? Institutional selling has increased much greater than institutional buying. I forget his name but he is well known and was warning that the dollar trade (on CNBC this morning) will likely result in a big crash in commodities whenever the dollar starts a significant rally. Stocks will likely drop hard as well when that happens. This should happen within months from now if not sooner. As soon as the dollar starts rallying many people will be trying to sell first to lock in profits. If they can’t get their sell orders in, panic selling may start.

I believe the average American is looking for ways to cut spending worrying about all the extra taxes, higher costs the democrats are going to add to health care and then possibly to energy, and who knows what else. That’s if our jobs aren’t outsourced to China or India because they won’t have those high energy taxes and high health care costs. Less spending means a slowdown ahead. Current elected officials will get the picture or get the boot. Unfortunately that can’t come soon enough for many people. My two cents.

By: shady

shady — Thu, 05 Nov 2009 04:52:15 +0000

History as you so often state

By: Goingtoretireoneday

Goingtoretireoneday — Thu, 05 Nov 2009 04:45:27 +0000

Good points once again, Zee. Let’s just leave it at that, we both have different opinions, and I don ‘t need a debate, not enough energy for it. So I think we pullback strongly, and you think we don’t, the future will tell us who’s right, and either way, lets try to make some money.

By: shady

shady — Thu, 05 Nov 2009 04:45:15 +0000

in the past yes,put not the last couple of years.Sell in May and go away,when was the last time that workrd?

By: zee

zee — Thu, 05 Nov 2009 04:24:58 +0000

Everybody wants to get back at the investment banks.. how by shorting. GS knows this.. so what will it do? Create patterns in the market to make it look like everything’s falling, and then it will place a $5b buy order in the futures.

Will GS kill the markets and then let everyone buy stocks cheap? No! You want DOW 5,000 so you can pick up GE at $3, WMT at $25, GS AT $30 admit it.. Everyone wants the markets to crash so they can profit. Everytime the market corrected, since March everyone swore we were finnaly going to have that big correction.but deep down it’s because they wanted to buy stocks cheap because they felt it was unfair they didn’t get any..
. Once again we are in the same situation, and GS will just put a 5$ billion buy order to buy the SPY futures in1-2 weeks time and boom +1%.. BEARS will keep saying don’t worry P3 is coming.. lol I bet when the s&p is 1700, Kenny or Daneric will make up some weird inverted flat correction that is happening..lmao.. Kenny has called the top numerous times back at 1020 during September and he turned out to be very wrong.. so take this P3 with a grain of salt unless we break 1014.