<p>Its hard for me to believe that Jack Welch was CEO of GE. He is either a total moron or has dementia.</p>
<p>I tend to think of intelligence as focused for most people. Ie, someone who’s a fantastic businessman is not necessarily a fantastic political theorist, or necessarily excellent at logistics, learning things intuitively, etc. And vice versa of course. So Welch’s success (income smoothing aside) at GE doesn’t necessarily translate to astuteness elsewhere.</p>
<p>I think that is right, Collectiv.</p>
<p>I am not loving this fb put sell, and I don’t want to roll because a series of lockups are expiring soon.</p>
<p>I may take a loss on this one.</p>
<p>"So Welch’s success (income smoothing aside) at GE doesn’t necessarily translate to astuteness elsewhere. "</p>
<p>His comments have nothing to do with astuteness - they’re completely irrational.</p>
<p>I took a loss on 60 percent of my fb short puts.</p>
<p>Kind of an ugly day.</p>
<p>I won’t touch FB until the day of the next big lockup expires. Then I may go big because all the big sellers will be done.</p>
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<p>Doct, are you trying to raise my blood pressure? :)</p>
<p>DocT - They’re rational from the mind of someone who believes Obama would do anything to win. This isn’t that different from the Dems howling about how Repubs rigged voting machines in '04 (since the contractor of said machines was red). I can see why people would believe stuff like this, even if it seems completely nonsensical to make assertions you have absolutely no proof for.</p>
<p>I’m referring to his comments comparing the attacks against him to “soviet russia and communist china”. Apparently he is too stupid to realize that freedom of speech also applies to those who are verbally attacking him. I guess irrational is the wrong word, I should have said he’s a stupid idiot.</p>
<p>A very simple chart:</p>
<p>[The</a> dk Report - David J. Kneupper - Public ChartList - StockCharts.com](<a href=“http://stockcharts.com/public/3828047/tenpp]The”>Public ChartLists | StockCharts.com)</p>
<p>And very simple instructions.</p>
<p>Investors Business Daily says the market is now in correction.</p>
<p>“A very simple chart”</p>
<p>Like last time.</p>
<p>We broke the 50 percent fib retracement so now there is but one decision?</p>
<p>Simple technically. Most people should have decent gains this year if they’ve been in the $compq (15%). I expected a rise into this fall (or late summer) and then some kind of drop towards the end of the year due to the fiscal cliff. These thoughts are far from unique or mine. Basically riding the train before it falls off the broken tracks. It just happened faster than I was expecting.</p>
<p>Trading is difficult right now - especially swing-trading. On one hand, you have the fiscal cliff, China slowing down, Europe’s problems, problems in the Middle East, growth concerns as reflected in the price of oil, unemployment and I’m sure others which you could find on a garden variety trading site.</p>
<p>On the other hand, you have a lot of central bankers willing to pump. $40 billion/month? No problem.</p>
<p>Billions for new roads in China? No problem. Buying sovereign bonds? No problems. So you can have these nice short squeezes or real monetary injections or bits of good news here and there on the upside and problems that we’ve been living with since the summer on the downside. Is that a good environment to trade or invest in?</p>
<p>It may be a great environment if you can watch the market all day and ride short-term momentum moves.</p>
<p>That ain’t me.</p>
<p>Check out the last buy signal on Kneupper’s chart. How did that work out? That chart is on autopilot - takes the emotion out - it’s just the chart.</p>
<p>“Investors Business Daily says the market is now in correction.”</p>
<p>I thought a correction was when the market drops 10%?</p>
<p>As far as a “very simple chart” - its all bs.</p>
<p>I just asked a simple question. </p>
<p>“We broke the 50 percent fib retracement so now there is but one decision?” </p>
<p>Yes or no?</p>
<br>
<br>
<p>For a while.</p>
<p>There’s always the 38.2% retrace. But we have a ways to get there.</p>
<p>I am just wondering because 50 percent is not a fib number.</p>
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<p>Let’s just value our positions…</p>
<p>I am just shocked, shocked to find out 20 percent of earnings numbers are bs. I thought it was more.</p>
<p>And Jack, Jack, Jack…</p>
<p>[Corporate</a> Earnings Manipulated One-Fifth Of The Time, CFOs Say](<a href=“Corporate Earnings Manipulated One-Fifth Of The Time, CFOs Say | HuffPost Impact”>Corporate Earnings Manipulated One-Fifth Of The Time, CFOs Say | HuffPost Impact)</p>
<p>[STUDY:</a> 20% Of Companies Lie On Earnings Reports To Boost Stock Prices - Business Insider](<a href=“http://www.businessinsider.com/study-20-of-companies-lie-earnings-stock-prices-2012-7]STUDY:”>STUDY: 20% of Companies Lie on Earnings Reports to Boost Stock Prices)</p>