Be Patient
A lot of traders want to sell the S&P for obvious reasons, and we agree with them. However, selling too early could induce a bit of pain. While our upside objective remains 1339, it is possible to see a runup…Continue Reading →
Archive for August 2008
Nothing New
The higher than expected consumer inflation is the tale of an old dog. The fact that oil is at 116 instead of 146 is more important for the moment. Keep in mind that that the upcoming rally that we see…Continue Reading →
More Big Picture Thoughts
Central to the severity of the macro problem the economy and market face is the underlying fact that the issue is “leverage piled on top of asset values that were well above long-term trendlines”. As the asset values decline to trendline…Continue Reading →
Gold Provides an Answer
In our opinion yesterdays market told a story and gave a signal. In the Main Site Bubble section which we wrote on January 22, 2008 we listed all the Bubbles with the caveat that the last two that would burst…Continue Reading →
Beginning or End
 During the past few weeks we have held a modestly long stock / short commodity stance in the portfolio. This has worked well with a new performance high in the tracking portfolio being made on Friday. Now the difficult time…Continue Reading →
Gold, the most interesting Market this week….
Gold appears ready to blow out the bottom into a new range which has support in the $ 750 area. This will continue to put pressure on long commodity investors and the oil market and lend some support to the…Continue Reading →
Key on Swing Points
Yesterday’s comments remain in play. The Key swing points are 1266 on the S&P, 127 in Oil and 939 in Gold. The markets will gravitate towards them in the absence of new news. 8:09 AM CDT
The Fed Did Nothing
The Fed did nothing….positive. They did not take the slack out of the fed fund rates. As such the markets are bound by recent support and resistance levels, which mean that the oil and gold markets will have a tendency…Continue Reading →
Nothing Definitive Yet…..more
This morning’s market moves take most of the markets into easy resistance and support levels. The S&P and financial indexes have rallied into short-term resistance, while gold and oil have declined into minor support. After the so-called required reaction to…Continue Reading →
Watching the Fed
This will be a bit of a wait and watch period in the market. Look for the 1248 area to hold the market on the downside. The major facets should continue this week, declining gold and oil and a stock…Continue Reading →