Tuesday, February 9, 2010

Breakfast with Dave--Rosie touts a 900 retest

How is that going to happen? We already had the retest yesterday of the downside!

There is ZERO chance of Rosie's scenario happening!

With all his rigor and intellectual superiority, he highlights this as the salient proof that the rockin rally from 666 was just a bear market bounce:

"Despite all the good news since the start of the year the overall equity market is the U.S. is down 8% from its January high--this goes to show that this was indeed a bear market rally rooted more in technicals than it was in fundamentals."

So what was the good news then????
Breakfast With Dave February 9, 2010 (David Rosenberg)                                                     


Anonymous said...

do we move up from here until sp 1150 before another sell off?

what needs to happen to get above S&P 1150 to the next levelo?

Palmoni said...

We are so oversold we only can move up from here.

Shorts pressed and pressed their bets and now its the bulls time

Anonymous said...

any thoughts on MGM?

It's behaving like crap, and I'm sitting on Feb 10s.

Anonymous said...

so what is the good news then? did not you read it? INTC reports, lower unemployment,.. it's right there. And he did not "tout" 900 retest. Touting is what you do best. He said it is likely. But you "tout" when you say "ZERO chance". Good sound approach: "shorts pressed and pressed and now it is bulls time". Bha-ha-ha. What if shorts "press" one more time? Or couple of more times? ZERO chance, right? Riiiight. LIke it was ZERO chance for ERTS to trade much lower when it was 20 and you touted it.

Palmoni said...

"likely take the S&P 500 back down to 912"

"it would mean a test of 900 on the S&P"

Maybe you didn't read it!

ever hear of a stop loss?

But I did buy ERTS today at 16.01

Anonymous said...

i see, so when your touted stock goes down - then it is stop loss, if it goes up then you touted it? You are so clever! I am glad you bought it 16, i am going to buy it even cheaper. But laughing at sellers at 20.50 and saying "buy it from them"? They laughed and sold it to you and your readers at 20 just to buy it back for 16.