<p>Lol… Still standing by 12,000 before 13,500… Nthink it got as close as 13400± at one time and as low as 12100±…</p>
<p>12K is clearly resistance. We’re just below that. Disappointment tomorrow and we’re going back down. The opposite and I can see resistance getting taken out - 3,000 on the $compq.</p>
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<p>What was your strike price and expiry date?</p>
<p>Does it look to you like INTC is forming the right side of a base?</p>
<p>Jul $28s.</p>
<p>I’m not sure what you mean by a base.</p>
<p>Current resistance is 61.8% Fibonacci Retracement at $27.58.</p>
<p>“IBD went from market in correction to market in upturn.”</p>
<p>What stock is this or is it “investors business daily”?</p>
<p>“12K is clearly resistance” or do you mean support?</p>
<p>I assumed investors business daily</p>
<p>13K
sdklflsdjlfsldk</p>
<p>IBD is Investors Business Daily.</p>
<p>If the fed does not say it will extend operation twist, I think we go lower briefly. I will buy like crazy if that happens. I see the s&p going to about 1450 by the fall.</p>
<p>IBD = Investors Business Daily, which changed to Market in Confirmed Uptrend as of 06/15/12. That means it’s time to start taking positions in stocks that you’ve had on your watch list while the market was in a correction.</p>
<p>I’m looking at the INTC chart, trying to determine if a cup with handle is forming. It’s had a 30% decline from its peak, base has been forming for about 6 weeks, fairly low volume. I own INTC in my son’s UTMA but will have to sell this year to pay for his tuition, so I’m considering buying it in my own account. Maybe one more covered call play before it goes.</p>
<p>So what is your best guess on what fed will do today? </p>
<p>I think the fed does nothing, not even extend operation twist.</p>
<p>^^That’s what I’m hoping so that I can buy this afternoon. Since I don’t know what’s going to happen, I bought half my final position this morning.</p>
<p>The Fed’s statement wasn’t very encouraging. ;)</p>
<p>Over the last several weeks i have spoken to many people (grad parties, work events,etc)concerned about the economy, an apparent uneasiness about what is going on…for instance,many parents who have children in private elementary schools are strongly considering moving to publics…Parents with children in private/parochial HS considering in state schools…This is very surprising amongst these people, as they all live rather ‘large’,none are unemployed, and to the best of my knowledge aren’t living "well"beyond their means, but maybe a bit stretched…</p>
<p>Several families also have quietly placed their very expensive vacation homes on the market…</p>
<p>On the other hand, i can’t get contractors to come and give an estimate for a home renovation,so apparently,they are doing ok…</p>
<p>But, housing appears to have slowed after a fairly robust spring season…but, a well known national home builder has started several new subdivisions within 10 miles of my area…</p>
<p>Employment still is in a stagnant,if not downward mode,though cost of gas is much lower</p>
<p>It seems there are some positives,but i see more negatives in economy</p>
<p>I am of opinion it gets worse,before it gets better…12,000 before 13,500…oil at 80 looks pretty good also. ;)</p>
<p>I think the economy has bottomed for the year even if Europe gets worse. </p>
<p>In early 2011, I bought foreclosure properties for prices that were a steal. Now I can’t find one at even a much of a discount. The real estate market is stable despite what the fed says. The number of new housing starts is far lower than population growth. I can only see an upside in real estate. With fed twisting again mortgage rates will continue to be next to nothing. Long term inflation will exceed the interest expense for a mortgage.</p>
<p>I bought the S&P today after the big drop and then sold after the big run up. Unfortunately, I got killed in oil. Crude inventories were up significantly today. I wish I could find a indicator to better trade crude.</p>
<p>The educational choices thing is rather odd. I haven’t seen any evidence of a dent in upper-tier private schools demand.</p>
<p>My contractor friend is very busy - he doesn’t have much time for tennis these days.</p>
<p>Inventory report on crude and gasoline today were bearish - demand continues to drop on gasoline. I don’t know if everyone is buying fuel-efficient or electric cars or if people aren’t traveling for vacation this summer. Cape Cod is supposedly doing a very active vacation season this summer. The weakness in demand with relatively low prices is concerning.</p>
<p>I bought wfc, jpm, qqq,spy, iwm calls right after the fed statement at 12:30PM.</p>
<p>Our biotech holdings are having a good week so far (knocking on wood).</p>
<p>Interesting post qdogpa…</p>
<p>The stock market at times can diverge from what the economy is doing…</p>
<p>Oil is crushed today…just crushed…</p>
<p>People’s wealth has been destroyed…</p>
<p>I hate these QES. Monetary stimulus has done what it can do… We need fiscal stimulus…and we need the financial sector to lend…
Now we have banks bragging about their reserves. Lol
Actually…I don’t know what is going to happen. I wouldn’t want to lend money for 30 years at 3.75 percent.</p>
<p>These parties…people seem to be pretty open about their finances. 
These people may have a lot of stuff…but what is their debt? And what are their future income prospects?</p>
<p>Sounds like these people have net worths of 2 to 12 million…</p>
<p>Above that…I don’t think they would give a crap about the cost of schools. Well maybe they would…if they are spending $500,000 a year.</p>
<p>I saw Joe Kernan and Jack Welch on tv today…Jack Welch said he would give up his medicare and SS, but he wanted tax rates cut. and there was a little fawning over Jack and his generosity in giving up SS and medicare. Lol. of course, he would…if tax cuts were cut…he would be a big winner.
Joe said he would give up medicare and SS too. Joe…Joe…not so fast. You might not be that wealthy. 
People say things and they aren’t called on it. There has been an incredible dumbing down of America. It is very bad. This might have larger ramifications than the weak economy over time.</p>
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<p>One of my companies (EQR) is buying an apartment building in Manhattan (Chelsea) for $300M or about $1m per apartment. Monthly rents are $3K to $17K and are expected to rise 6+% this year. The market in Manhattan is expensive so I hope that they know what they are doing. Apparently this building is attractive due to low operating costs.</p>
<p>Rents in the big cities with low unemployment for highly paid workers are crazy high.</p>