The power of the market that allowed it to launch itself out of the hole was impressive yesterday and gives us the idea that this summer rally could go past 1320 maybe even to 1360. One must keep in mind…Continue Reading →
A number of commentators have pronounced last week’s rally in the stock market as a dead cat bounce. It could have been,  but it would appear to us to have had more energy than something dead although we would point…Continue Reading →
Look for oil to do a freefall to the 105 area in the next few days. This may lead to support for the stock market so we are doing some light buying in conservative accounts and lightening up short positions…Continue Reading →
Nothing new is shaping up as we go into a new week. S&P trading range of 1230 to 1260 is the operative perspective. Are the commodiites markets going to find support this week, inconclusive view at the moment ? 8:17 AM…Continue Reading →
The broad S&P trading range of 1200 to 1320 remains in place. The topside of the inside 1230 to 1290 range was tested earlier this week, leaving the 1230 area as the next test and an area where traders can…Continue Reading →
Markets do funny things, maybe strange is a better word, but here today at mid-session we are seeing our portfolio make a new record high and we have not made a trade in the past two weeks other than adding…Continue Reading →
We wished we would have covered our short stock market positions a week ago when our portfolio closed on a record high. While the portfolio is still up for the month it is down 2 percent from the record high. …Continue Reading →
Apple is a good example of what we are going to see as the market muddles around in this 1200 to 1320 S&P trading range. There is essentially no sector that offers a home run or even a place to…Continue Reading →
The financials have led the current bounce in the market. Todays XLF rally high at 21.48 is within the major resistance area of 2142 to 21.67. 10:15 AM CDT
It would appear that the magicians have put up a smoke screen that has reduced the panic level substanhtially, so much so that greed has come roaring back. For the moment this sets up a trading range of 1230 to…Continue Reading →