BIDZ buy alert update
Mar 25, 2008 investing, trading
Since I called the support level on BIDZ at 7.19, my pick is up 10%.
My technical analysis of BIDZ today:
- Bollinger bands squeezing. This usually means a trend change is eminent.
- Moving averages are converging. The 5 day, my favorite moving average, is close to crossing above the 10 and 20 day moving averages.
- MACD looking bullish, the fast line is close to crossing above the slow line. MACD is still edging toward the zero line, and a cross above would be a bullish signal.
- Today’s close is still holding the 5 day moving average.
- Forming a rounded bottom.
BIDZ moves somewhat with the DOW/S&P, and today saw some selloff because of negative news on oil refineries.
I am not a financial adviser. Never buy or sell stock based on my recommendations or analysis; do your own due diligence and consult your financial adviser.
Tags: BIDZ, bidz.com, technical analysis, trading
BIDZ triple bottom?
Mar 17, 2008 investing, trading
BIDZ is looking like a triple bottom here. The Stock held up pretty well considering all the turmoil in the market lately. I think if it weren’t for all the financials in trouble, BIDZ would have made a cup and handle formation, but a triple bottom will suit me just fine. The MACD is looking bullish, the 5 day moving average is converging on the 10 day, and volume should start picking up after the bounce off support at $7.15.
I was dumb and didn’t sell when it hit resistance at $10.80 on February 28th, and missed out on some nice profit. Hopefully I’ll make up for it this time around.
Jim Cramer says “Bear Stearns is fine!”
Mar 17, 2008 investing, trading
This has got to be the funniest moments on television I’ve ever had the pleasure of viewing, next to Miss Teen South Carolina. Jim Cramer, CNBC’s maniacal stock analyst, says “NO, NO, NO” to selling Bear Stearns.
The video can be viewed here.
Cramer answers a viewer’s question, “Should I be worried about Bear Stearns in terms of liquidity and get my money out of there?” To which Cramer responds, “NO, NO, NO. Bear Stearns is fine! Do not take your money out! (incomprehensible) If there’s one takeaway other than plus four hundred (incomprehensible). Bear Stearns is not in trouble. I mean if anything, they’re more likely to be taken over. Don’t move your money from Bear [Stearns]! That’s just silly! Don’t be silly!”
Great advice Jimbo!
I think the best way to make money with Jim Cramer is to short his picks.
Bear Stearns is going into hibernation - permanently
I hope all of you hard working folks out there got your money out of Bear Stearns (BSC) Friday when it was announced that JPMorgan Chase was buying Bear Stearns at $2 a share. Ouch! The beast came tumbling down, opening at $3.18 this morning after the announcement over the weekend.
AP Business writer Joe Bel Bruno makes me giggle. He writes, “A complete collapse of Bear Stearns might have completely crushed the already-dwindling confidence in the global financial system, which has frozen up after last year’s collapse of the subprime mortgage market.” Is it just me, or did Bear Stearns completely collapse?
The collapse of Bear Stearns is something that needed to happen. As Jim Rogers said, we need a financial forest fire so that we can start over and stop pretending that this bubble economy is real. One thing that we certainly do not need is the federal government, in its typical fascist manner, using taxpayer dollars to bail out more failing financials. Regarding Bear Stearns, this is the last thing we need to be reading: “The Fed also essentially made the takeover risk-free by saying it would guarantee up to $30 billion of the troubled mortgage and other assets that got the nation’s fifth-largest investment bank into trouble.”
More on the failing bubble economy:
abc news can’t decide which false title to use
Mar 7, 2008 Ron Paul, politics
abc news is sure to get some egg on their face for this one:
Remember - unlike his lying ex-opponent, Mike Huckabee, Ron Paul is still trying to win delegates, and is still going to the national convention.
Chris Peden loses, Mike Huckabee is a liar, Ron Paul continues the race
Mar 7, 2008 Ron Paul, politics
In this chaotic and corrupt election year, we have seen just about everything. From ballot box tampering to Louisiana state GOP last minute rule changing, to election software being “lost” in transit, to the mainstream media censorship and extreme marginalization and ostracization of Ron Paul, it has become exceedingly obvious that the neoconservative establishment will do anything in its power to keep Ron Paul from succeeding.
Ron Paul took time off of his presidential campaign to defend his seat in Congress. During his Congressional campaign, the media and the leftist wing of the blogosphere were ever hopeful that his opponent, Chris Peden, would defeat him - and thereby invalidate his entire political philosophy and movement. Peden was handily defeated, sending a message to all that Ron Paul still has a place in the American political arena. His revolution carries on. Strangely though, in district 14, 37,220 people voted for Paul for Congress - and only 6,697 of those voted for him for President. The discrepancy has stirred some controversy and public doubt that the numbers are correct; this compounded by the fact that the numbers cannot be verified because there is no paper trail.
Mike Huckabee’s announcement that he is dropping out of the race on March 4th, due to John McCain’s successes in Texas, Rhode Island, Vermont, and Ohio, is indicative of his superficial run for the presidency. If he has the intelligence that I give him the benefit of the doubt for, he knows that McCain still does not have the required number of bound delegates to secure the Republican nomination. His dropping out is a calculated move to lower the probability of a brokered convention occurring, much like Romney’s calculated move to drop out and endorse McCain, despite his obviously fake attempts to discredit McCain’s (nonexistent) conservatism. Romney had that right, so why would he drop out and endorse McCain? Is the war the only important issue in this election?
Ron Paul’s bottom-up, grassroots strategy will be apparent in November. Winning delegates is the name of the game. Don’t believe mainstream media headlines saying Ron Paul has dropped out of the race, because he plans to take delegates to the national convention and hopefully be heard there. Americans have seven months to realize that McCain is unfit to lead and that Ron Paul is still a viable alternative.