By logical extension then, we should turn off our TVs, throw away the weeklies and the dailies, tune out the blogs and just watch the tape. Count me in.

Well spoken. The combination of your eloquence and passion makes exhilarating reading.

HBB may publicly spin whatever they want - however, as "we" know and the public may not - HBB will try and empty the pockets of as many little people as possible.

With that in mind, I feel the "pumping" stage is set with all of the HBB's prostitutes singing "New highs are here to stay". When does the dumping begin? Soon. As soon as we pierce through the yearly highs on the SPX and DIA. Possibly as early as next week.

JMHO.

Thanks Bill - a great reminder.

"I just follow the tape to find my way"

Amen
mano

For kicks I'm starting to collect marketwatch headlines and market performance in a file. The "Energizing Earnesto" headlines that were up for that weekend corresponded to the top in oil. Today is "all clear for the bulls." The tape seems to say overbought near major resistance.. :)

Great point Bill !

They just malipulate all of it, to make their's.

Just give us a heads up when you think we're headed down. I feel safer in Puts vs. Calls .

Stay well Bill.

Jack

As you predicted, the market is in fully rally mode, Bill, proving your point. CNBC primed the pump for this.

As a close follower of the HB sector, the data points that truly matter tell me that these stocks should continue to fall, while the tape is telling me that shorts are getting squeezed and retail longs are getting set up for slaughter. It's beginning to feel like late Winter all over again.

I'll study my charts a bit more today and over the weekend to find out if the tape is right or suffering a fit of temporary insanity.

Re:Selling of certain data points

I would be more concerned about the "selling" of certain stocks.

What the HBB's did to investors in Ford's (F) this week was obscene.

This kind of stuff just shouldn't happen - and CNBC was complicit all the way - shame on them.

tradesman

Michigan business
SUSAN TOMPOR: Privatizing Ford Motor

August 30, 2006

BY SUSAN TOMPOR

FREE PRESS COLUMNIST

http://www.freep.com/apps/pbcs.dll/article?AID=/20060830/BUSINESS06/608300461/1088/COL07

Tradesman ,

Forgive me for my insensitivity, but anyone long Ford deserved what they got. The writing has been on the wall for the American auto industry for quite a while. If people are going to gamble on companies like Ford or GM than it needs to be done with money they can afford to lose.
HBB are no different than the casinos in Vegas. Like the casinos, they will lure you into the markets with dreams of riches and than proceed to pick your pockets. The professional gamblers however will always make money as will the professional investors. The stock market is simply a game and needs to be played by professionals. Amateurs can expect to lose money until they start learning the rules and playing like pro's.

Technically speaking a Doji was formed on the charts 2 days ago and RSI was in the distribution zone. Most professionals you figure were out this stock by Thursday at latest and probably shorting too.

I am by no means a market expert infact I am barely an amateur. But even I would not have been foolish enough to chase Ford at this point.

Thanks oratier... for the link

I was just commenting on how the players are really jerking the share price of Ford around... at the expense of the public.

I don't trade it (but should)- I follow it for my father - a retired employee of the company.

I'm sure there's value in there somewhere - but today obviously all the institutions wanted out for the end of the quarter - maybe some were playing it for a tax loss. The rest were playing the usual options "move it up- drop it down" game - to move their calls and puts into the money.

190 million shares in one day - is an incredable amount of paper changing hands.

In any case - IMO this was run up at the publics expense - in anticipation of todays dump.

The question is - was today's dump - a way for the supposed "take it private" players to get the shares cheap? Or is the company really "against the ropes?"

tradesman

In terms of economic data releases, it seems lately that whatever number would be best for the markets is what the number will be. The only real exception being the housing data which is way too obvious to hide.

In regards to the markets, don't be surprised to see the DOW maintaining record highs for the November elections, with a big drop soon after.

About the CPI, according to Mauldin, the actual number was 0.2423, which is conveniently rounded to 0.2%:

"Inflation, we are told, was just 0.2%, whether or not you took into account energy and food. That seems like a nice drop down from the well over 3% we have been seeing. But the number is a "strong" 0.2%. What the actual number came in at was 0.2423%. Rounding took it down to the "2" handle. Annualized, that is 2.9% inflation. Still higher than a central banker would like, but definitely in the right direction from the last few months. "