roguetrader
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They been a bad bad boy again another $1bln in false accounting announced by US AttourneyRacer said:
Racer said:
Not me but it was up nearly 1% in the first half hour of trading and then it fell back sharply. It will be interesting to see the charege they take to to their accounts when they report over the next few days and whether this will drive the stock down further.
roguetrader
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SPX hanging on to 200sma like a life raft
Racer
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AIG news from yesterday
Monday April 25, 4:16 pm ET
By Tomi Kilgore
NEW YORK (MarketWatch) -- Shares of American International Group closed Monday up 2.8%, enough to make the insurer the biggest percentage gainer among Dow components. Merrill Lynch said in a note to clients that the potential for any further accounting adjustments to AIG's 2004 earnings and book value is already reflected in the share price. Analyst Jay Cohen, reiterated his buy rating on the stock, and said he believes there is "good downside fundamental support for the shares between $49 and $50" vs. his 12-month price objective of $65. The stock closed up $1.41 at $51.76.
Monday April 25, 4:16 pm ET
By Tomi Kilgore
NEW YORK (MarketWatch) -- Shares of American International Group closed Monday up 2.8%, enough to make the insurer the biggest percentage gainer among Dow components. Merrill Lynch said in a note to clients that the potential for any further accounting adjustments to AIG's 2004 earnings and book value is already reflected in the share price. Analyst Jay Cohen, reiterated his buy rating on the stock, and said he believes there is "good downside fundamental support for the shares between $49 and $50" vs. his 12-month price objective of $65. The stock closed up $1.41 at $51.76.
roguetrader
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Racer
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Wall Street after hours - Amazon falls 4% in evening activity - UPDATE 1
AFX
SAN FRANCISCO (AFX) -Shares of Amazon.com Inc. lost 3% Tuesday afternoon as the Internet retail giant missed analysts' profit expectations despite matching first-quarter revenue forecasts.
The Nasdaq-100 After Hours Indicator, which tracks the evening action of the technology-heavy index's leading shares, was down 0.09 points to 1420.34.
AFX
SAN FRANCISCO (AFX) -Shares of Amazon.com Inc. lost 3% Tuesday afternoon as the Internet retail giant missed analysts' profit expectations despite matching first-quarter revenue forecasts.
The Nasdaq-100 After Hours Indicator, which tracks the evening action of the technology-heavy index's leading shares, was down 0.09 points to 1420.34.
Racer
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S&P,next potential 1080
Not saying it will happen or the time frame but that is a possibility if this area fails
edit, possible by July? As I say, need confirmation in the next few weeks
and this price is not based on the 3 peaks pattern I posted, that is a different calculation
And I am very willing to change my mind, charts and targets can be wrong!
Not saying it will happen or the time frame but that is a possibility if this area fails
edit, possible by July? As I say, need confirmation in the next few weeks
and this price is not based on the 3 peaks pattern I posted, that is a different calculation
And I am very willing to change my mind, charts and targets can be wrong!
Last edited:
Racer
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Not saying I believe in this pattern for current dow but I have seen several intraday examples
But these are all fractals and the mind can see things where it wants to see things.
It doesn't mean the result will be the same, you have to be able to adapt and see that the result will not be the same..
Do not be fixed in your ideas!
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Could today have been the start of the extension of this downward trend.
Failure of 10250 was not good. Breaking yesterdays support at 10200 was not good either....
Ending at the lows of the session was not good for the bulls.
All in all a bad day for the Dow.
But will we get a confirmation break to the downside or are we still range bound 10000-200/50.
We shall see...
Failure of 10250 was not good. Breaking yesterdays support at 10200 was not good either....
Ending at the lows of the session was not good for the bulls.
All in all a bad day for the Dow.
But will we get a confirmation break to the downside or are we still range bound 10000-200/50.
We shall see...
One can only assume that all the bulls that were talking about new highs in the DOW are in the fields with the cows or nursing very heavy losses. Unfortunately for them, the worst is yet to come, if ever there was a time to head for the hills, this is it. Apart from bids (real and virtual) all we seem to hear is - "not as bad as expected;" and the lumps pile in again.
American Express, Exxon, WalMart etc. may well post higher results but what about the other large US companies? Are we to believe that AIG and General Motors' problems are isolated? Some will have us believe that oil at $55 is nothing to worry about and that it does not affect most sectors of the economy (what a load of garbage). We are all in big trouble and face severe deflation.
By the time the charts say sell the DOW will be sub 9,000 headed for 6,500 and as for those that bought Google at $220 or more... they can hand them to their unborn grandchildren as LONG TERM investments.
American Express, Exxon, WalMart etc. may well post higher results but what about the other large US companies? Are we to believe that AIG and General Motors' problems are isolated? Some will have us believe that oil at $55 is nothing to worry about and that it does not affect most sectors of the economy (what a load of garbage). We are all in big trouble and face severe deflation.
By the time the charts say sell the DOW will be sub 9,000 headed for 6,500 and as for those that bought Google at $220 or more... they can hand them to their unborn grandchildren as LONG TERM investments.
