Working out a Top
In answer to a question about yeserday’s comments, (what was meant by a 3 day to 3 month event), we were referring to how long the market will take to put in a top in this area under and around 1435. These…Continue Reading →
Archive for April 2008
80 % of the Rally is History
80 percent of the rally from the January lows is behind us. As the CNBC gate opens at 1400 on the S&P, a brick wall is waiting at 1435. This is the most imporatant decision making juncture this year. It…Continue Reading →
A little Puzzlement Today
Our read on the effect on the stock market around midnight last night is being called into question this morning as the market has rallied to around yesterdays highs. We were bracing for a setback in the market on our…Continue Reading →
Consumer is putting some weight on the Market
Yesterdays Microsoft numbers are probably a good indication of where the consumer market is for the moment. Until earnings season and the Fed meeting is over this will keep a cloud over the market. Yesterday was the fourth failed attempt…Continue Reading →
The Rice / Commodity Story and the Dollar
Otto Spengler, Asia Times. 4/24/08 China is exchanging its depreciating reserves of US dollars for things of value, notably rice, with frightening consequences for dependent countries, and deadly consequences for American foreign policy. The chart below shows the price of…Continue Reading →
Message to Barak
Change comes easiest when you don’t have to force it, waiting until people beg for it is a sure thing. If you really want to force it, advocate some real change in economic policy. The polls got one thing right…Continue Reading →
Backing and Filling
Yesterday the market backed off into first support at 1369 and then bounced a bit. Look for this to continue until the market breaks through resistance at 1393 and finishes the rally to 1435.
The Economy, Riding on the Breakdown of the Social Contract
‘Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration.’ Lincoln’s First…Continue Reading →
Nothing New Today
The market will continue to digest last weeks rally. Basis the S&P 500, first support is at 1367 and solid support at 1347. Traders can continue to play the game for the rally to 1435.  Longterm investors should take a look…Continue Reading →
Bounce in Play, Technical Points
From a technical viewpoint the market on Friday moved out of the trading range and touched the initial resistance level at 1393 on the S&P. This sets up two things, an initial new range of 1360 to 1395 and the prospect…Continue Reading →