What a somber person yesterday, and rightly so, it is a long way between essay writing and heading the FED. No doubt if he could do it over he would not have taken fed fund rates below 4.0 percent, interest…Continue Reading →
Bernanke will be grilled by congress the next two days. This will add an element of turmoil to an already edgy market. In the S&P there are a number of analysts looking for 1170 to be the bottom. The swingcount…Continue Reading →
So much for “no entity is to big to fail”, another rescue plan is unveiled over the weekend. It is a losing game. When mortgage lenders were making loans in 2005 in a residential real estate that was 46 percent above…Continue Reading →
We stand behind our end game comments of yesterday on oil and gold. Forty years of trading commodities lead me to suspect that this rally yesterday and today is a staged event to scare new buyers into the market to take…Continue Reading →
We are living with the financial equivalent of the Axis of Incompentency. Incompetent not because they are dumb, they are probably three smart guys, two very smart, and one ok smart, but incompetent because their actions are not beneficial to the…Continue Reading →
Our late coments yesterday point to the problem the stock market faces at the moment. Technically the S&P 1294 extreme downside objective looks more and more possible, probably today or tomorrow. That is the easy part. Then on what fundamentas…Continue Reading →
Investors reactions to the “no action ” Fed meeting is a little worrisome short-term, you have to wonder who would be buying S&P at 1334 with the news being what it was. Why did the market players think that they…Continue Reading →
One of the better traders I know emailed me late yesterday, he covered all short positions. We agree with that stance. A good Dow / Nasdaq relationship chart turned positive yesterday. How does one play this information, probably gingerly, as…Continue Reading →
Fridays move through the 1331 support area seems to us to be more a completion of the first stage of the market decline from last Octobers highs. Financial and housing stocks have been the big losers during this stage. The…Continue Reading →
This is the CNBC refrain the past few days. To us the answer is, have patience, things take time and in fact todays employment numbers point to it being closer than many believe. Yesterday we saw a stock market buyer…Continue Reading →