Barton Biggs

Discussion in 'Trading' started by waggie945, May 12, 2004.

  1. In a Ron Insana interview on CNBC today at 2PM EST Barton biggs says that a violent rally is about to occur within the next couple of days. Says that the Bull Market is still intact.

    Better earnings and a balanced recovery with a good pick-up in capital spending will be able to "offset" somewhat higher inflation and a 1/4 to 1/2 point increase by the Fed in Fed Funds Rate.

    Stay tuned.
  2. BrianLA


    More unemployment and people riding bikes would help. The market clearly doesn't like new jobs and gas price taking off.
  3. The PPI and CPI releases are not anything that people want to get in the way of, hence the low volume and no bids.

    Until then, we have no "inflection" point where there is enough bearishness to cause a reversal.
  4. Sorry waggie,

    all that is is a self fulfilling prophecy.
    the daily charts are oversold so a correction within a few days is not that hard to fathom. no real genius in that my friend.
    the question will be if the market can get back above the trend line MA?

    im not so sure that it will.
  5. taodr


    Waggie, Biggs is an idiot. Most of the time he is wrong. He looked like he was shitting his pants in that piece. He's hoping the market goes up !:cool:
  6. Barton can be right, and he can be wrong.

    However, he does have a pretty good track record and he has had some HUGE calls when it comes to Japan and China.

    Yes, the market is oversold and getting further oversold.
    But the key to his comments is that he still believes that the Bull Market is intact higher inflation and higher rates notwithstanding.
  7. waggie,
    come on man you are attempting to defend this guy in wake of his glarring long squeeze. depending on what MA you are using on your weekly YM chart this "bull mkt" is in serious jeopardy.
    it is not good when the mkt touches/test the MA like that. smart $$$ says that we break the MA and keep on falling.
  8. It's very possible that we break the moving averages that you refer to and make one helluva "wash-out" low, or simply trade sideways at a lower level of the S&P. There certainly is a lack of leadership in the market right now.

    That being said, I would not base whether or not we are still in a Bull Market soley on the 200 day moving average. That would be a big mistake in my opinion.
  9. By the way, I stated last week to a few ET members ( pabst and volume ) and once again on Monday of this week that 1073 was an initial downside target for me.

    Today's low in the ES is currently 1075.50 and we are getting the typical "counter-trend" rally at 2:30PM that occurs on big down days.

    Let's see how this unfolds.
  10. i already cover this topic of the mkt's current measurements this morning. however i agree that basing ones analysis solely on the 200 MA is a huge mistake.

    the ES is about 500 points off its high
    but is only a little more than 300 points off its low

    if i were a bull here i would not be that estatic or cocky right now.

    it is much easier for the mkt to move 300 points than to move 500. IMHO
    #10     May 12, 2004