A few of today's comments in and around SI:
(on the Nazdaq)
The train is just backing up a bit to load a few more essentials - cigars, champagne, and caviar.....--Ground Zero
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OT... I believe it is highly improbable today's NYSE SNAFU was an accident. I find it almost impossible to believe that perhaps the most important system in the world was somehow allowed to fail due to the negligence of its programmers. I think it is much more probable the "outage" was a cleverly devised diversion intended to obfuscate the activities of the powerful hidden hands as they repositioned themselves in a much more favorable way. Call me paranoid, but even if I am, remember, that doesn't necessarily mean my assertions aren't plausible. –John
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Computer glitch - yeah buddy
Does anyone really believe that the NYSE had a software change on a Thursday night and allowed institutional traders to trade, but not retail. I guess thats "fair to the retail investor". What a bunch of BS. --michael finsterwald
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The Nasdaq closed above 2200 after all of those warnings, I'm impressed. I'm getting long any big dips for the "bubble run", hee hee. –Dale Weaver
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(excerpt from Tonights Prudent Bear)
Bad news out of JNPR seemed to matter today, while INTC’s hopeful words were for the most part ignored. That’s a little different from the “buy everything” action we saw earlier in the week, but it’s too early to tell if this is just a one-day wonder or not. Next week’s expiration will give us a much better idea of whether people are ready to give up on their second half hope yet or not I think. As I’ve said before, hope is all that is holding us up at the moment. Once that prop is removed, stock prices will fall like brick through toilet paper, and I tend to think it will go very fast when it finally does. Next week’s expiration is also a triple witch, so I’m sure there will be lots of volatility. The COT report showed commercials once again upping their net short position in the S&Ps to 78,000 contracts. --Lance Lewis
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One of the elements of the bull case lately has been that investors don't care about bad news any more and therefore earnings warning season will not have the usual downward influence. Your theory that a run-of-the-mill problem like a failed software upgrade could cause investors to dump stocks does not seem to bode well for this presumed fortitude on the part of investors. –Richard Palm
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My thoughts are about as good as any at this point because this market is following no logic at the moment. It is rising and falling with economic data and issue news ..... and no one can really forecase what comes next. My feeling is that we will remain week for the next couple of trading days. Just a guess though. -- Trader J
The End :-) |
