Stock Market Talk

[웃 910]

Quick summary of closing prices for June 2, 2009:

Dow Jones Industrial Average: 8,741 (highest close since January 8th)

S&P500: 944.74 (highest close since November 5th)

NASDAQ: 1,836.80 (highest close since October 13th)

Oil: $68/barrel (highest since early November)

Gold: $985.60/ounce (highest since February)

Silver: $16.13/ounce (highest since early August)

March 2009 intraday lows:

DJIA: 6,469.95 (level last seen in November 1996)

S&P500: 666.79 (level last seen in September 1996)

NASDAQ: 1,265.52 (level last seen in October 2002)

3-month percentage gain from March 2009 lows to today (June 2 close):

DJIA: +35.10%

S&P500: +41.68%

NASDAQ: +45.14%

Thoughts:

Market will correct very soon, today possibly could have been the top, and I'd say the next leg down begins anywhere from tomorrow to within 2 weeks. Short-term prediction is DJIA closes below 8,000 within 6 weeks, and 850 on the S&P500. Some of my holdings include the purchase of HEB today around $2 (biopharmaceutical company), TPUT today at .24 (steel), in FAZ at $4.79 (short financials), short CSIQ at $13.05 (solar energy), and silver around $11.50.

[mawilson 2,133]

So... the market is still going sideways.

Go short at 9,000-ish, long at 8,000-ish. Lather, rinse, repeat ad infinitum.

I'm out of commodities for now.

[웃 910]

Thoughts:

Market will correct very soon, today possibly could have been the top, and I'd say the next leg down begins anywhere from tomorrow to within 2 weeks. Short-term prediction is DJIA closes below 8,000 within 6 weeks, and 850 on the S&P500. Some of my holdings include the purchase of HEB today around $2 (biopharmaceutical company), TPUT today at .24 (steel), in FAZ at $4.79 (short financials), short CSIQ at $13.05 (solar energy), and silver around $11.50.

Well 6 weeks from June 2nd (date of above post) was Tuesday, July 14th (two days ago). Looks like I was fairly accurate in my predictions (see charts below). By the way, HEB almost hit $5 a week after I got in at $2 but I sold around $3...Got out of TPUT a while back in the low .30s......Sold FAZ for a loss at around $4.25......Covered CSIQ for a little profit......Right now I am in PCX (Patriot Coal Corp.)....I got in PCX at $5.00/share a couple days ago and it closed today at $6.13/share. I love energy companies. I wish I had millions of dollars to put a ton of it in coal/solar/wind/oil/natural gas companies. I'm also in LEE (a newspaper company) which luckily soared 24% today with the help of Gannett Co. beating earnings expectations (Gannett is the largest newspaper publisher in the US (owner of USA Today).....I have a couple I will be getting in tomorrow as well, will post when I enter.

Dow chart:

S&P500 chart:

Charts are looking incredibly bullish! I'll reassess when the S&P500 hits 1000 which I'll (just for fun) predict happens by August 20th and the Dow 9,300 points which will also happen around August 20th (just making a wild guess because nobody pays attention to this thread so I can check in a month and see how accurate/inaccurate I was).

Edited July 16, 2009 by Confucian

[mawilson 2,133]

Charts are looking incredibly bullish! I'll reassess when the S&P500 hits 1000 which I'll (just for fun) predict happens by August 20th and the Dow 9,300 points which will also happen around August 20th (just making a wild guess because nobody pays attention to this thread so I can check in a month and see how accurate/inaccurate I was).

Your short-term prediction was that the Dow would close below 8,000 within 6 weeks, and that

hasn't happened, although we did pull back into the low 8,000s at one point.

9,300 on the Dow? 1,000 S&P? That's a P/E multiple of what, 20+?

I'll be 100% short if that happens, especially as early as August.

[Amby 490]

I bought lots of gold because I saw that guy from law & order on a commercial and he told me to do it. I don't know why either of you think you know more than some actor.

[웃 910]

Charts are looking incredibly bullish! I'll reassess when the S&P500 hits 1000 which I'll (just for fun) predict happens by August 20th and the Dow 9,300 points which will also happen around August 20th (just making a wild guess because nobody pays attention to this thread so I can check in a month and see how accurate/inaccurate I was).

Your short-term prediction was that the Dow would close below 8,000 within 6 weeks, and that

hasn't happened, although we did pull back into the low 8,000s at one point.

I made my "prediction" on June 2nd and said within 6 weeks the Dow would close under 8000. The 6-week deadline ended on July 14th. On July 8th the Dow had an intraday low of 8,087.19. I'd say that is pretty damn close to 8,000!

9,300 on the Dow? 1,000 S&P? That's a P/E multiple of what, 20+?

I'll be 100% short if that happens, especially as early as August.

Well prepare to go 100% short! 9,300 seems very far away from my post last night when the Dow closed at 8,616. Today the Dow closed approximately at 8,710. Pretty soon comes 9,000 and then 9,300 won't be far away at all.

Check out PCX. I got in last Wednesday at $5 and it closed today a couple pennies from $7. I'm up 40% in a week. They were upgraded to a buy today pre-market. Picked up MPG today at .57, a bottom play with lots of upside. Hanging onto LEE in the low .60s. I'd get rid of it but the chart is telling me it is going to be much higher within the next two weeks.

[웃 910]

LEE went up 8% today to close at 67 cents. There is a small wall at 70 cents. If the wall comes down then it could be a fun ride. I think 90 cents will hit if 70 cents breaks on good volume. 90 cents would be a 34.33% gain from today's 67 cent close.

Chart for LEE:

PCX yet again devoured all the other coal stocks. Up 13.75% today to close at $8.03. MEE did 6.7%, JRCC 5.26%, BTU did 5%, the rest all under 4% gains. PCX often does worse on the down days too but the up days are very fun! Anyways, I am now up 60.6% from my July 8th purchase at $5.00/share less than 2 weeks ago. Chart showing no signs of retreating although a slight pull back is to be expected within the next few days. However, I think that this will be easily over $10 the day of or after earnings on July 30th (next Thursday).

Chart for PCX:

[웃 910]

LEE went up 8% today to close at 67 cents. There is a small wall at 70 cents. If the wall comes down then it could be a fun ride. I think 90 cents will hit if 70 cents breaks on good volume. 90 cents would be a 34.33% gain from today's 67 cent close.

Another beautiful day today. LEE volume surged and flew another 13.4% up! pSAR flipped and lots of other good things happening on the chart which indicates things to come:

LEE "Bullish Three Outside Up" candle formation confirmed today...

• After an established downtrend, day-one continues the trend with a red candle

• Day-two is a long green day that engulfs the body of the first day, closing well above the previous days open.

• The third day is a green day with an even higher close than the second day.

"The Bullish Three Outside Up pattern is one of the more clear-cut three day bullish reversal patterns. The formation reflects buyers overtaking selling strength, and often precedes a continued rally in price. In fact up to day-two we have a bullish Engulfing Pattern, itself a strong two-day reversal pattern."

**I think the fun may just be beginning for LEE. $1 not out of question but I'm taking it a dime at a time. Next major resistance at 85 cents which is the 50 day moving average...After that I'd reckon getting to $1 will be a piece of cake.......**

**Also look out for MPG, this baby is going to fly any day now. Ive been in for 4 days now and am still even but getting ready to buckle my seatbelt for a very quick ride up (I think it takes off this week)...**

Edited July 22, 2009 by Confucian

[웃 910]

Well my beautiful friends, LEE has done it again

Let's get a still shot of LEE at noon today:

Notice a few things. #1 the MACD crossed very nicely a few sessions back which told me to stay the course even though I was still down a few pennies at that point. This combined with the ADX and PPO crossing....#2 the RSIs.....#3 the other newspaper companies are reporting promising earnings....#4 the pSAR flipped yesterday....#5 the bullish candle formation yesterday....#6 today on the chart take a look at the AROON up and down divergence, this is indescribably bullish, #7 LEE has blown through on tremendous volume all moving averages

I hate to brag, but each one of my predictions have been spot on. I still maintain the first real resistance won't come in the markets until S&P 500 hits 1000 points. I estimated the Dow will be 9300 at that point. I said after the 70 cent wall on LEE would fly and it's sitting over a buck now....This dollar area is very strong resistance. If LEE closes over $1 and manages to float above $1 on Thursday then this will start to really pick up steam and $1.50 will hit.

If anyone on VJ wants to see 50% or better returns within weeks of your stock purchase, I will be more than happy to continue to post here so you can see how to make money. Unfortunately, I am a small fish with not a lot of money. I know some of you guys are very rich (see other poll). Hell, if you are even too scared to make the purchases yourself then I'll even make the trades in your account for you! I do this in my dads account and have him with 40k shares of LEE at 60 cents and another couple thousand shares of PCX at $5.....My strategy (simplified version) is a few stocks at a time but go heavy. Take profit when there and then rinse and repeat. Ride free shares whenever possible.

Waiting on MPG shareholder meeting tomorrow. Bought more MPG an hour back at 54 cents, last trade was 56 cents and I'm waiting for a massive explosion within the next week...I'm trying to figure out what to do with PCX, I'm up a little over 50% and a few big coal companies report on Monday and PCX reports Tuesday...PCX could hit $10 within a few days if earnings permit, or sink back down below $7...More updates coming soon....rich people follow these picks and see how fast you'll rake in tens of thousands.....

My brother challenged me to a stock game starting with $100,000 a couple of months ago...I'm up 500% on this toy account, I just basically go all in here to see how it turns out....So far $100k turned into over $500k: http://vse.marketwatch.com/Game/Portfolio.aspx

[mawilson 2,133]

I don't trade penny stocks. $5 minimum.

[웃 910]

I don't trade penny stocks. $5 minimum.

For me it's a $5 maximum, lol!

I try to stay away from anything trading over $5, stocks over $5 are dangerous!

Edited July 22, 2009 by Confucian

[웃 910]

LEE hit $1.35 today!! It's up 21.50% as I type. When should I sell?? I got my dad 20,000 shares at .65 and another 20,000 shares at .60 just a couple weeks ago. He is averaged in with 40,000 shares at .625!!! I made him over 67 cents x 40,000 shares!! PCX is up 8% today and trading around $8.20. I'm keeping my $10 target by Tuesday afternoon. I have him in at $5.05 and myself at $5.

If you want to join the party I'm sure I'll get a minimum of 30% out of MPG at current levels. After buying more yesterday at .54 I'm averaged in at .56-.57. Last trade went through at .59 and volume is good! Shareholder meeting is occurring as I type (started at 11am). MACD crossed bullish today, pSAR is waiting to flip in a few more days. MPG broke resistance a couple days ago, a break in 60 cents and it flies. I'll keep my target on MPG at 30% from current 59 cent level which is at 77 cents. Jump in! It's easy money...

Oh, and the Dow just smashed through 9,000....last was 9,056....S&P500 at 975. I'd be surprised if the S&P didn't test 1000 next week.

http://www.google.com/finance?q=NYSE:LEE

http://www.google.com/finance?q=NYSE:PCX <--yet again, way larger gains than the other coal stocks!

http://www.google.com/finance?q=NYSE:MPG

Edited July 23, 2009 by Confucian

[웃 910]

MPG is getting ready to fly, I hope someone is taking advantage of these stock tips, I have my shares locked in at 56-57 cents....Watch what happens tomorrow everyone....A break in 70 cents and shorts will send this baby flying:

IMO the chance to get in under 60 cents is long gone! This may have a nice bump at the close, last trade went through at 61 cents:

[mawilson 2,133]

Ok, I'll humor you.

Have an order pending at .61

Ok, got filled at .61.

[웃 910]

Ok, I'll humor you.

Have an order pending at .61

Ok, got filled at .61.

Brought up the 1-minute chart and the drop at the end was some bozo panic seller who sold off about 25,000 shares ($15,000 worth) in the final 5 minutes AT THE BID PRICE! Still won't affect the look of the technicals on the chart but that was a VERY DISAPPOINTING CLOSE! Good news is MPG is making higher highs and higher lows and volume was nice today.