Yesterday’s buying in gold, stocks, and Euro all at the same time is not healthy for anyone but traders. This just confirms that our recent comments about the rest of the year being a price distribution period is on target. …Continue Reading →
would not surprise me sometime in the next 10 days, probably sooner rather than later and my $ 750 downside objective is in play between now and Thanksgiving. The reasons are apparent and have been discussed at length here. Stocks in…Continue Reading →
Yesterday’s rally in gold and decline in stocks is being heralded by many as the start of something. It would seem to me that it looks much more like the last hurrah for the funny money let us inflate out…Continue Reading →
Many newsletter writers think so, but one has to keep in mind that what worked for 10 years for a different reason may not work now. In any case the next few days will be a test of whether the…Continue Reading →
The most important things this month for the market was the realization that it was not going to fall off a cliff. With the rally over the last couple of days we are seeing a penetration of short-term resistance on…Continue Reading →
The continued sell-off of the dollar today is giving some dollar bears/QE3 lovers an excuse to open their mouths. I don’t however view this as a worrisome situation because from a chart standpoint we are in a support area. If,…Continue Reading →
We have talked little about the European situation over the past few months other than the fact that long-term they are going towards a solution that will preserve the Euro and acknowledge balance sheet write-downs for both banks and countries…Continue Reading →
The rally from 1074 to 1233 on the S&P 500 was a piece of cake. Now the hard part is facing all of us. The market appears to want to move into the bigger range that includes runs to the…Continue Reading →
Deficit reduction is long term bearish on gold and commodities, period. We have talked at length on that issue. We got out of stock positions yesterday on the opening, but are still looking for price distribution and sideways action for…Continue Reading →
I am back from a few vacation days. The stock market rally had more legs than I anticipated for this early in the cycle, but that was good for the investor accounts in which we retained our long positions. Trader…Continue Reading →