Yesterday the Nasdaq 100 broke through its 50 day moving average and came within one point of the 100 day moving average. The Dow, on the other hand, is 11 percent below its 100 day moving average. We continue to…Continue Reading →
The 734 to 736 area on the S&P sits out there as a support level this week. Yesterdays comments are still appropriate although I will note that I was incorrect on the timing of the test of the 729 S&P…Continue Reading →
While Geithner’s public style does not inspire a lot of confidence, supposedly he is smart and doing the right things behind closed doors. Maybe that is the right thing for the moment, less hype and more thinking. It all works…Continue Reading →
Last night’s Jon Stewart Show was painful to watch. Jim Cramer, the lead hype dog for CNBC was reduced to whimpering and putting his tail between his legs. He now says he is going to change his ways and work…Continue Reading →
The S&P by trading inside the 699 and 734 range yesterday, passed the first technical test of the macro bottom formation. Now we have a couple of free days, in fact now it would be nice to see a push down…Continue Reading →
Today looks to be a continuation of yesterdays rally. Not that it makes any difference as we are at leverage levels that we are comfortable and will not be forced to buy any rallys. We will be looking for the…Continue Reading →
In the outlook piece you may note that our expected price ranges in various markets and commodities are pointing higher with the exception of gold which is already high. The EMA ETF Nav was 753 at yesterdays close. 7:44 AM…Continue Reading →
The market is opening in despair again this morning. Is it because the players know something or don’t know what to do? Thomas Friedman had a great article in yesterdays NYT on the change that is evolving. See http://www.nytimes.com/2009/03/08/opinion/08friedman.html. We…Continue Reading →
Those who know me know that I am a so-called car nut. My first car was a 1955 Mercury. I read all the car magazines and I have to say that the only people who really have a solid perspective…Continue Reading →