Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Monday, September 22, 2008

THE BELL HATH RUNG!!!

AND THE LORD SPOKE AND "MARKET THOU HATH BOTTOMED."

I reiterate, the foolishness of such calls, but as I read this morning. I'm going to document the bottom calls.

  • TK... Calls for a developing inverted Head and Shoulders. Sugjests "KD Bar the door"
  • Trader feed says the low is in. P.S. - Stocks with notably positive money flows this past week include AA, CAT, DD, GE, HPQ, JNJ, JPM, MCD, MMM, PG, UTX, and VZ.
  • quantifyable edges, this was posted friday
  • Y'all didn't notice, but after I said that barry was looking for 1929, he came by, and said he had made 2 "bullish calls". I'm not going to link him, because he will show up and I'll have to spend time argueing with him. For Regular readers, There is nothing I hate more than "Bullshit Hedger speak", It's one thing to say "I don't know, or it's this or this I think... and probably "this". But to say things that you arn't acountable for, is a waist of time. This also accounts for TA which is "We went down today... We go down tomorrow" "We went up today, We will continue".... It's useless.
  1. He did have that post calling for "Biggest rally since 1929".... And I quote him "Combine the technical and sentiment factors with the government bailout, and you have the makings of a powerful -- but likely temporary -- rally.".... ("My comment:What temporary is is anyones guess, a 1000 point rally is a powerfull,but temporary rally" )
  2. He posted his post that the 50% point of the previous downturn, should create a rally. To quote. "That 50% retrace is where one would expect to see some sort of *rally*. I don't expect it to last very long, and its really a long term selling opportunity" "MY comment: We have had" some sort of 'Rally' " what 'last long' mean is hedger speak... A year, 6 months, 3 months, a week, 1 month.
  3. There is a post about fear has returned to the market and I quote: "The only question for traders is whether or not this sell off is closer to the ones seen over the past 2 years (in which case you can buy 'em here) or more like the 2000- 03 period (in which case we have more selling to go)." My comment: this is the first real trader talk I've heard from him, where "there is a rally, but not sure where it's going", One can make a case that this is bullish vaguly.

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