Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
This has been building up for awhile. My gut says there's a possibility we're going to test them today. I don't recall during the August drop if they were tripped. Anyone know?
Not today.... we are not low enough for that yet.... the DOW still has to get below it's intraday August lows yet.. we need a couple of 300 point down days before we get the big 1000 point down day and possible short term capitulation. The nasdaq is nearing it's August intraday lows as the overvalued technology pigs like FB, NFLX, UA, AMZN, and others come back down to more sane valuations. There's really no reason for them to have doubled or more in one year. There's definitely a gap to fill now, especially since they are all in freefall on the charts.. this is, and always has been, a technical selloff.. maybe with oil partly as a reason but overall it just needed to happen. However I believe the global economy will slow into 2017 exacerbating the whole situation.
I've been thinking about the whole idea of living wages and the like and it occurred to me that companies might start not worrying so much about their bottom line and instead give more back to their employees, lowering their earnings per share, bad for the "stock market" which is the playground for the rich, but good for society as a whole... I suppose there has to be balance... as a stock investor I still want to invest in companies that can put out earnings per share.... in any case there's lot of stocks that trade at very different multiples for no good reason at all just because their sector is out of favor... two examples biotech (GILD) and airlines (AAL) ... meanwhile my largest holding MMM (as I have an employee purchase thing) sits there with a PE of 20 despite flat to down year over year revenue growth.. in my opinion it's a $120 stock but the institutions eat it up.
My pet peeve is companies like MMM wasting money on stock buybacks when their stock is arguably expensive. I'd rather they pay off debt or invest in organic growth. There's way too much focus on stock buybacks which should only be done if your stock is CHEAP! GILD could do something much more useful with their cash than buyback shares. Rant over.
well said stockwiz.. big business needs to stop focusing on the bottom line and focus more on employees, which I believe in short time will increase the bottom line anyway.
They could delay a crash if they sent in the PPT today to pump up stocks in the last hour... we are at key technical levels here... any fall to the previous lows last month will have us going down to a new lower leg... think dow 15000 and Nasdaq under 4000, say around 3500. Personally I say bring it on. I've been waiting for this... charts have nothing but air below us in a lot of stocks.. lets flush this pig out and take out all the stops. We'll have a stronger support base and can return to these levels in a better position in a couple weeks. I'm 90% cash (aside from my large MMM position which I don't count) and I want to put money to work.
I'm cash too.. I don't care if wall street goes down. It should, these numbers are all BS. I'm just worried big business is going to be way too focused on these fake stock numbers, start laying people off again, and we're 2008 all over. I just want my wife and I to keep out jobs, and keep paying our bills.
I am cash heavy too... not playing in this manipulated environment...
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I'm 90% cash (aside from my large MMM position which I don't count) and I want to put money to work.
