My God, Intel warns right at a time when the market is teetering on the precipice. Futures locked limit down all night. Total carnage afterhours. Oil is high, the euro is weak. And it's September going into October.How could you bears possibly have screwed this one up? How could you not have sold off the market today?How incompetent can you be?Did you guys used to coach the Philadelphia Eagles or something?Sheesh!-chris
How could you bears possibly have screwed this one up?Chris - you're making an assumption here, a big one, that the 'Communion of Bears' board is, in fact, inhabited by bears. Having hung around these parts for a while recently, I can attest that I have had no sightings whatsoever of furry mammals of the ursine persuasion. They used to be here, back in the days of yore, but alas seem to have been run off by stampeding bulls or by sneering analysts.I have, however, been duly entertained by some of the most aggressive cluelessness about hydrocarbons I have ever heard anywhere. Although they're not bears, several posters here would make excellent members of a Clinton/Gore administration team, especially in the Energy Department.For the record, the Texas Railroad Commission was (and still is) an arm of the Texas government, not "a creation of big oil". It was regulating railroads - hence its name - before someone had the bright idea that the price of crude oil could be regulated if its delivery (i.e. by rail) could be regulated. And therein lies a tale.Today's SPR release was a boneheaded decision of the first magnitude. I've said it here before and I'll say it again: crude supplies are not the issue now. Refining capacity is. Excessive demand for products is. A typical SUV, for example, uses the gasoline content of two barrels of crude every time it fills up. And years of not-so-benign neglect (both over-regulation and capital flight) of refining and transportation capacity have left us straining to keep up with demand for products, no matter what the levels of crude are in inventory. And, best of all, the 'swaps' of crude delivered to oil refiners now are payable next summer ... so we'll be depleting (commercial) crude stocks back into the SPR just in time for summer driving season. Good call, guys. Crude futures prices for next summer are already climbing, to absolutely nobody's surprise outside the Beltway. Pay less for crude now so we can pay more later. Can you say "election year gimmick"?I wonder what our fearless leaders will do once a similar natural gas delivery crunch hits this winter. There's no natural-gas-OPEC to blame and no 'Big Gas' to sue. They could, however, announce releases from Washington's vast gas supplies. I hear there's no shortage of that there.Teknonstill searching for bear tracks ...
I found the Fool's lead article tonight quite in tune with your thinking.http://www.fool.com/news/foth/2000/foth000922.htmYou may or may not remember me and my posts from earlier in the year. I was the one that called the NasCrash to the day.I am quite affected by the article I mentioned above, but there is not as much mania now as at the end of 1999. After all, the Naz is way down from its high. I no longer hear rank and file workers giving stock investment advice. Bonus comment: I am surprised that the DJI has held up so well, especially since MSFT is now in it.I think inertia will keep the market up to some degree. Where to from here? I don't have much of a guess. I may pull a little more money out. 6% ain't bad for a MM.Parfour
The real bears got out of the market in the first semester of this year (at least I did and apparently Parfour did too).It is too late becoming a bear in an already bearish market (for over 6 months now).For the real bears it is time to evaluate when to step into the stock market again which means when to turn into a bull (I'm preparing my Jekyl and Hyde drink). vegeli
Friday was a big decline-- except in the indexes. The advance decline line was a disaster. Is someone trying to manipulate the market? Why was Coke up 3.5? No news, no earnings growth, and KO's PE is a joke.
<<Friday was a big decline-- except in the indexes. The advance decline line was a disaster. >>When the Naz was down big, I commented that the market really was pretty strong outside of INTC.Up volume beat down volume on the NYSE.While down volume beat up volume handily on the Naz, if you take out INTC's 300 million, it was about even.Declining to advancing issues improved all day long from dreadful to just somewhat negative by day's end - a huge improvement over the past few weeks.On the NYSE, Decliners barely beat advancers: 1516 to 1338. Pretty damn good for a day that was supposed to be a disaster.On the Naz, they finished at 2237 decliners to 1792 advancers. Even in the early afternoon, it was more like 2700 to 1000.That was a strong day for the indices outside of INTC and a big improvement over the unquestionably awful action of the rest of the week.-chris
Becoming excited over the recent moves in the Nasdaq and the Dow is quite ridiculous.The Nasdaq is rangebound essentially between 4,300 and 3,300 with reasonable support at 3,800 and 3,500. And this has been the case for six months.The Dow is rangebound as well, between 11,800 and 10,300 essentially. The Dow has been locked into this for nearly 18 months, with one false break in between.So nothing has changed.gazing merrily at the indexes is pointless in any event. According to the indexes the stock market has not been the place to invest. If this is the position of anyone, I am afraid they have simply not done their homework.Running around screeching "bear market" over the past year has been something we have heard frequently. Just like Chicken Little, it is equally pathetic and WRONG!Wake-up and smell the roses. The current bull market is a stockpickers delight. It is a market favoring Ferdinand the bull, who stopped every now again to smell the roses.
Today's SPR release was a boneheaded decision of the first magnitude. I've said it here before and I'll say it again: crude supplies are not the issue now. Refining capacity is. That depends on why you think that Pres. Clinton released the oil. It has nothing to do with oil prices and everything to do with public perception. Obviously Clinton is supporting Gore's bid to sell himself as a populist and Bush as the pawn of big business and big money.If Bush had kept quiet, Clinton would never have released the oil.
Nah. Check back in another nine years.
Haha, I was wondering if anyone would catch that.Were you here circa 1999 and 2000? This board was great back then. I ended up leaving the Fool for a while when they went to the pay site format. I got a new handle for the pay site but never used it enough to justify paying. I only recently returned to posting regularly. I remembered this board and decided to check it out. I was shocked to find it a ghost town.As it is, I'm not a bear any longer. We're nearly ten years removed from the dotcom top and we're way lower on all indices. And P/Es are low.Maybe all the old posters moved to the Communion of Bulls. I think I'll go check that one out.
Ah, okay, thanks. I've seen some of thoaw "METAR" posts when they hit the Best Of.
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