expected pullback?

Discussion in 'Stock Market' started by wimpy77, Apr 7, 2009.

  1. wimpy77
    Offline

    wimpy77 Member

    Joined:
    Jan 21, 2009
    Messages:
    591
    Thanks Received:
    10
    Trophy Points:
    16
    Ratings:
    +10
    is this pullback expecting by you guys or do you think there's something more?
     
  2. manu1959
    Offline

    manu1959 Left Coast Isolationist

    Joined:
    Oct 28, 2004
    Messages:
    13,761
    Thanks Received:
    1,625
    Trophy Points:
    48
    Location:
    california
    Ratings:
    +1,626
    alcoa lost half a billion dollars......eanings reports sucked.... the feds want to throw 4 trillion more at the problem.......and you still can not get any kind of credit to build anything.....
     
  3. wimpy77
    Offline

    wimpy77 Member

    Joined:
    Jan 21, 2009
    Messages:
    591
    Thanks Received:
    10
    Trophy Points:
    16
    Ratings:
    +10
    when is the last time alcoa has actually met expectations been many quarters.
     
  4. manu1959
    Offline

    manu1959 Left Coast Isolationist

    Joined:
    Oct 28, 2004
    Messages:
    13,761
    Thanks Received:
    1,625
    Trophy Points:
    48
    Location:
    california
    Ratings:
    +1,626
    worse than projected....and that is the issue ......if people do bad but better than projections then it is a sign they have cut deep enough and have a handel on the market......most of my clients are "fortune 500" retailers they seem to have it under control ....almost.....my fortune 500 developers not so much....they can't get credit and don't see any on the horizon.....which means no manufacturing for construction materials.....so if this is going to turn it will be the retailers leading the charge......
     
  5. Paulie
    Offline

    Paulie Platinum Member

    Joined:
    May 19, 2007
    Messages:
    31,522
    Thanks Received:
    4,847
    Trophy Points:
    1,130
    Ratings:
    +15,350
    Aluminum prices are low right now. Wait till the inflation comes and base metals skyrocket, Alcoa will be making a killing. Their stock is a value right now.

    What I'm mainly seeing is a ton of resistance at 8000, and somewhat of a support around 7800. It looks to be much easier to go further down than further up right now. If we can break 8000 and close above it I think we can make some more significant gains. The next major resistance level after that would pretty much have to be somewhere around ~9000. I might go double short the DOW again around 87-8800 if we get up there and earnings aren't looking good.
     
    Last edited: Apr 8, 2009
  6. ItsFairmont
    Offline

    ItsFairmont Member

    Joined:
    Apr 2, 2009
    Messages:
    303
    Thanks Received:
    49
    Trophy Points:
    16
    Ratings:
    +49
    The pullback can work, but it's only about 80% effective.

    But through the use of both the condom AND the pullback, it's about 99% effective.

    Just something to think about.
     
    • Thank You! Thank You! x 1
  7. Burp
    Offline

    Burp Always carry, never tell

    Joined:
    Jan 22, 2009
    Messages:
    1,133
    Thanks Received:
    193
    Trophy Points:
    48
    Ratings:
    +193
    You shit.

    You beat me to it!
     
  8. Paulie
    Offline

    Paulie Platinum Member

    Joined:
    May 19, 2007
    Messages:
    31,522
    Thanks Received:
    4,847
    Trophy Points:
    1,130
    Ratings:
    +15,350
    It's called pullout in that context, not pullback.
     
  9. Munin
    Offline

    Munin VIP Member

    Joined:
    Dec 5, 2008
    Messages:
    1,300
    Thanks Received:
    92
    Trophy Points:
    83
    Ratings:
    +95
    My guess is that a some sectors have bottomed out, the financial sector is a good example of this.

    I don't think we re going back down (below the previous "bottom"), unless something horrible happens in the next couple of weeks. I ve got great respect for the Obama administration and the FED if this continues, they are the ones who made this possible.
     

Share This Page