herbert hoover

Closing Update for Tuesday, August 4

another whiner....


On Aug 04 05:40 PM Mad Hedge Fund Trader wrote:

> Hasta la vista baby! Welcome to the new bubble. I four months we
> have gone from 35% below the 200 day moving average to 15% above.
> It turns out that 1,000 in the S&P 500 is 38.2% recovery of the
> fall from the 2007 peak, a great Fibonacci number. DeMark indicators
> are showing that buying power is getting exhausted. Daily sentiment
> indicators are 88% bullish. RSI’s and oscillators are over extended.
> Every day the buyers show up, marching in lockstep with military
> precision, to give us our needed spike up at the close to keep the
> rally alive on the charts one more day. Worst of all, I am getting
> deluged with emails from subscribers asking if they shuld start buying
> now, buying everything. All of this, and we still have the second
> half of the “W” to discount. If the American stock market was the
> only issue, I wouldn’t really care, since most of my longs are overseas.
> But if the US rolls over like the Bismarck, emerging markets, foreign
> currencies, commodities, the energies, and junk bonds will be dragged
> down with it because everything is so interlinked these days. There
> will be no place to hide. I think the glass half full crowd is coming
> to the end of their run, so I would urge investors to pare down some
> risk. If your friends stay in, and they make a ton of money, that’s
> fine. Just let them buy the next round of drinks.

Cramer's Lightning Round - Don't Give ADM (2/9/09)

More inconsistent rantings of a fool. Next week, he'll completely reverse himself