The end of quarter dressup of mutual and pension funds should be completed now. The trading positions we liquidated at 1357 on the S&P earlier in the week are being reinstated as we go back to a 20 percent net…Continue Reading →
We are back to the 1335 to 1375 trading zone on the S&P 500 . Dollar is down into what should be a support area.
We have just trimmed back from our 20 percent long position from last week to flat now, equal longs and shorts. S&P 500 at 1357. With Portfolio managers doing some evening up of their positions this week, this may be enough…Continue Reading →
With the base established in the stock markets we are entering a more tricky phase. In spite of all that has happened this year, exuberent stock buyers are still everywhere. This means that short term technical indicators will get very…Continue Reading →
While yesterdays late panic and the overnight drop to the 1286 area are worrisome, the 1305 S&P area should continue to be an important measuring point. It appears that the expected commodity sell off triggered some margin calls and were a…Continue Reading →
Yesterdays strong upmove pretty much makes the March 10 to March 17 period standout as a basing formation and the swingpoint of that base period, S&P 500 @ 1305 should be considered a significant support area. Until it is tested…Continue Reading →
The Fed got it almost right, a 50 point drop in rates would have been a little better, it would have given them a little more ammo in six months but for now this is ok. In our opinion the…Continue Reading →
The mentality that got the market in trouble six months ago is back again in full force this morning. Up 50 points on the S&P 500 from yesterdays lows is not a good way to go into this FED meeting…Continue Reading →
Our comments on Sunday afternoon before the market opened for the week stand from a perspective standpoint. Over the past week we have twice seen both sides of the huge 1280 – 1330 trading range . Now the price negotiated for the…Continue Reading →
Why does the market hold above the January 22nd lows in spite of increaingly bad news. It’s simple, the bmarket believes that it will be bailed out when it gets bad enough. Bear Stearns on Friday was another piece of that…Continue Reading →