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jimkane
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Jim must be very, very happy, because the futures opened... down. Just three points now from the low for the entire move down. Can't imagine they won't try for that. It should bring on a nice flush down, but nowadays they may defend it, or guard against a big stop run, who knows. I still think they may gun this up at some point, but maybe not. I just know I'm not marrying any positions the way they like to come in.
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jimkane
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Okay, showtime. Let's see if those lovely bears have anything left in the tank.
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jimkane
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Posts: 33,089
5 points from my area posted way back, 15 minutes cash and then another 15 after-cash. Can they do it? Well, they could do it in 1-2 minutes, but will they? I hope so.
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jimkane
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No, they are defending the low. They don't want a rapid selloff into a Friday close. What a pop. Then this weekend is the G8 meeting, and lots of talk about Bern-Qwacke doing something big over the weekend. I can't wait for Sunday night...
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jimkane
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Crude trades 90.93! A handle in the 80's is so close. Who-da thunk it.
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jimkane
Rep: 3,058
Posts: 33,089
Wow, what a day. I can't wait for Sunday night and next week. Finally some real excitement. Lots of people calling today the bottom (many will call the bottom day after day after day as things drop, like many 'top' analysts kept sky high strong buy targets after the dot.com bubble burst, all the way down to $2 or $1 or zero).
Take a look at a 1 or 3-min chart of FB for today. Notice the two strong attempts to drop this. It hits $38 and flatlines. No way it would be allowed to trade below the opening price of $38 on the opening day. I wonder how long that game will last? Like I said, I think this worthless POS (okay, not worthless, but not worth anything even in the ballpark, even in the same universe, as what it is 'valued' at, same old game...) going public is 'the end'. We'll see.
Let me also clarify 'the end'. Recall when hyperinflation hit Zimbabwe they had the number one performing stock market in the world that year in nominal terms. But if you owned stocks and they went through the roof your purchasing power actually went down. Imagine the Dow at a million (literally) and you can buy less with your fund than before it 'went up'. That's the difference between 'nominal' and 'real'.
It's 'the end' to me because, even if the market goes up and up and up, the purchasing power of x number of shares is going down, even as the price rises. I think we are there. This has been going on for awhile, but I think it is entering the acceleration phase. Thanks, FB!
Take a look at a 1 or 3-min chart of FB for today. Notice the two strong attempts to drop this. It hits $38 and flatlines. No way it would be allowed to trade below the opening price of $38 on the opening day. I wonder how long that game will last? Like I said, I think this worthless POS (okay, not worthless, but not worth anything even in the ballpark, even in the same universe, as what it is 'valued' at, same old game...) going public is 'the end'. We'll see.
Let me also clarify 'the end'. Recall when hyperinflation hit Zimbabwe they had the number one performing stock market in the world that year in nominal terms. But if you owned stocks and they went through the roof your purchasing power actually went down. Imagine the Dow at a million (literally) and you can buy less with your fund than before it 'went up'. That's the difference between 'nominal' and 'real'.
It's 'the end' to me because, even if the market goes up and up and up, the purchasing power of x number of shares is going down, even as the price rises. I think we are there. This has been going on for awhile, but I think it is entering the acceleration phase. Thanks, FB!