Sunday, August 1, 2010

Bullish BIDU Looks SWEET! Bearish TZA Looks like Honey! Yummy:)

Wow,  Fridays action was great!.. I am in the bullish mode.. How about you all?  We really could have finished wave 4 and have a small quick and to the point wave 5 to go.. all we have to do is make a new High... in your e mail you should have found some interesting things... Maybe Thing 1 or Thing 2, Dr. Suess has some interesting characters these days.. LOL.. for some of you that is an inside Joke.. so ignore it.

Now, come on You all Know I am a BEAR!!! and I am very Bearish at this point and time, but we really could go do that 5th wave that sometimes does not exist in my opinion.  but as alot of other updates currently have we could really be done. Its funny 50% of them are Bullish and 50% are Bearish. That is how nutty this mkt is right now. The only thing that the Bears have going for them is the Volume..but the volume has been low and we have still gone Higher!  so in a way that really sucks to be frank. Something out there in wall street land is buying it up and pushing hard to get the little guy to panic and dive in.. and when it does we really could be going to the 1150-1250 area... that is what worries me..but.. There are some good things going for us:
1) The Dollar looks to be finishing a correction... when it finishes of course the market will resume the downtrend "Normally".
2)  GDP's # was just magnificent!! 
3)  Psychology is cautious again and turning bearish as seen by the Volume ....

If you like to buy stocks like some of us do..Bidu, RTP, AWK, and a long shot that had a terrible accident happen at its sugar plant earlier this year IPSU, are looking good in my opinion.. I have them in the order that I like them.. but like I said Imperial sugar is a long shot.. its about the recovery from the fire, deaths, and OSHA fines.. that need to be seen on the bottom line.. I have 3 waves down with a 4th in progress.. ? is what will the #'s be.. she's at $12 , I would wait for Earnings.. I think she might fall a bit, then turn up.. They have built a new plant and its at full capacity running.. so wait for the bait...then buy.. this could be a long and its the only sugar stock.. and bad times people love their sugar even more... Bidu, well, google has made it a long again.. and I actually feel really stupid for not mentioning this when google got in trouble again with China the other day.. this stock is a long term HOLD! no matter what happens with our economy.. China's will continue to grow.. even though most people would not agree with me even the U.S. will continue to grow.. just not at light speed.. but China , India and Africa are the HOT mkts of tomorrow.. its the good starters like Bidu that will pay off like an Apple or goog.. has done for alot of investors. I hate to say that I personally was caught in a time warp when these stocks came to light.. being at the end of the Baby boomers..(giving away my age now),  My mentality really sucked thinking of Internet and all the stuff people would do and have done with it.. I did buy MSFT though.. because it was hot and I took the advice of a guy who was starting out as a financial advisor, but he told me to sell it and buy up all kinds of tech stocks.. see where this is going guys and gals..I lost it all..and I will never reveal how much that was...you can guess??? I salvaged some, but stocks like Lucent tech are well long gone with my $$.. the tech bubble givith and took it away... but the new stuff called Cloud is interesting..but will it bubble too..???  Lets chat about that soon.. OK.. I do not understand it all.. so hopefull some of you can give your views.. EWT has called the top in this move.. they say we are starting the 3rd wave down.. its sometime this week. So, If I find some other wonderful update I will add it on to this one.. so check back before the bell..>L

7 comments:

  1. Well, what do you guys think?, How high do we go..? >L

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  2. SOHU, sorry guys I missed that one..darn.. still good to poss $55..>L

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  3. I guestimate to break 1130 this week. Sold my shorts for loss this morning. RK

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  4. Got some CLF this morning...only good thing for me so far.

    zstock7.com
    zentrader.ca

    found couple of sites for shortterm stock picks.

    RK

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  5. Sorry RK, this has just been a Bear of a pattern, I can only tell ya that I would sit on sidelines..at this point and let this supposed ending diagonal trend itself out.. I like alot of the stocks I mentioned above. but you must get in and get out Friday will be an important day, very, for the bulls...but then again I thought if GDP was as bad as it was we would suffer from there.. but my gut says that we go alot higher..sorry>L

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  6. Thanks L. Hopefully we will have some down time tomorrow to get some longs. else will stay on the side lines.

    RK

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  7. hourly on buy
    daily on buy
    weekly still on sell.

    I say we go as high as 1070, more likely to 1145-1165 area.

    r

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