O means old(yesterday or older)limits
N means new limits
N QQQQ 49.57 - 49.75
N GLD 65.94 - 66.13
O USO 49.49 63.34
O ECA 64.54 - 65.66
O SPX 1509.25- 1541.18
O TSX 14114.38 - 13906.11
Jim Taylor, JD said...
Hi Boris, Hi JD...
CRASH NEXT WEEK,
NDX100 top at 2025 45 squared
NYSE " " 10201 101 "
JIM
7/13/2007 9:41 AM
Jim Taylor, JD said...
DOW high 13924=118 Squared
Jim
7/13/2007 12:09 PM
17 comments:
July 13 (Bloomberg) -- Iran asked Japanese refiners to switch to the yen to pay for all crude oil purchases, to counter the risk that U.S. dollar transfers may be frozen by increased sanctions.
The request is for all shipments ``effective immediately,'' according to the letter, dated July 10 and obtained by Bloomberg News.
-------------
Hmmm, wonder what Jpn will do with all those $ now...
Dear Sqroot.
I know you are looking for an answer, sort of, but how about a question...
Why do you think this news comes out now?
Good trading
Boris - I read your back and forth yesterday with that guy and was somewhat surprised by your harsh attitude. My take on this site is that it is an aid for day (or multi day trading). I think your work is helpful. However, let's face it, the market has been going up a long time, and you are always looking for places to sell the Q's. General rules of trading means one should try to look for places to buy a rising market, and places to sell a falling market. I have used your limits as places to buy and they have been halpful. In my opinion the q's will make a yearly high somewhere between 49 and 51. So I am now looking for places to start selling rather than buying and will use your upper limits to help. But since I am a trader and not an investor, I, like the guy you argued with yesterday, don't care about the relative value of the stock market versus the currency.
Dear Billy,
You are a trader, you view is your own and as such valid.
We have investors. I like investors more than traders, perhaps because you and I can take of ourselves and they need more help. I tailor my approach to them.
I do not want them sucked into the market the can not get out of AKA .COM
I hope this is clear.
I love you, but this site is only partially for you ( small part by the way).
Good Trading
Fair enough. By the way thanks for being so generous with your work.
Dear Billy,
Honor is ours to host you.
Good Trading
Hi Boris,
CRASH NEXT WEEK,
NDX100 top at 2025 45 squared
NYSE " " 10201 101 "
JIM
Dear JD,
Thanks as always.
Good Trading
If I may, you all know that I favor the fundamentals. This is what they are saying to me. (BTW the data is from S&P)
It is expected that next year, the 500 will earn $105.97, up from $46.04 in 2002. That gives a P/E for the S&P of 14.19. The average P/E for the S&P since 1936 is 15.68...but the average since 1990 is 23.52. In 2002 it was 19.11.
But in addition to the earnings rising, the nest several years are supposed to exhibit a reversion back to industrials, health care and technology. That growth is expected to 16% on average.
The composition of the earnings by sector reflect that the above sectors will contribute the same percentage of earning they contributed in 2002.
If I apply the 2002 P/E of 19.11 to the expected earnings of $105.97, I get an S&P 500 value sometime next year at 2026.
I know everything looks best at the top, but as I said yesterday, there is a lot of bearish sentiment out there...the one thing no one is counting on is a straight shot to 1800.
Good Luck
John
Dear John, to balance what you say.
I think that the earnings is distroted without any hope for correction any time soon.
Corporations do buy their shares does distoring the the PE ratio.
Now until they keep purchasing their shares with FIAT $ all looks good.
What happens when things go into reverse.
That is what makes me totally suspcious of the PE staff(: :)
Besides all we need for SP to reach 2000 is for $ to go to 75-76 .
I am sure DR. Bernanke is working on it.
Good Trading
Hi Boris,
with sqroot's Yen comment about the Yen and Jim's crash comment. Maybe the Yen ETF FXY would be good to have.
Dear YoungGrasshopper, YEN could be good, but I suggest that besides occasional moves up. YEN will not be allowed to move higher, cause that will mean disaster of the "CASINO ECONOMY"
In my opinion FXS( SWISS) FXE( EURO) are better.
GOod Trading
More on PE ratios:
I once studied the 10K for Microsoft, this was a few years back. AFter figuring out how much they were actually paying to buy their shares in the open market to satisfy employee stock options, it worked out they actually LOSE $!!!! Published financials are nearly worthless, even with recent reforms.
Dear Czman. mpt tp denegrate all the PE research, I agree with you, but unfortunately a lot of shops are still blindly following formulas John brings and we do need to look over our sholders to see what is "sold to public"
Good Trading
Just back from lunch Boris. As to your question about the yen... probably several agendas going on - Iran will do anything to stick it to USA, and Japan can't afford to have a strong yen vs weak dollar. We are the big casino... who would buy all those Ti yo toes? Sometimes soon, though, Japan will be forced to raise interest rates, but all the western govmnts are in this together to prevent serious USA crash.
I can not agree more Dear SQROOT.
But the timing of the info is spculators dream to make a quick buck on YEN....
Something to think about in the world where free speach if more free for those who have connections and can "place" information at well, ALMOST.
GOod Trading
DOW high 13924=118 Squared
Jim
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