A Short Term Trading Range
For the next few days we are viewing the S&P 500 as a 1177 to 1207 trading range and will be buying back the half of our long position that we sold out yesterday at 1202. The QE3 dreamers on…Continue Reading →
Archive for November 2011
S&P 1216 and Merkle is not going to Reinflate….Update at 11:10 AM CST
Until the S&P 500 can close over 1216 this is just a recovery bounce. The market was an oversold value buy at 1172. Now it has to prove itself if bigger things are to happen. On the positive side…Continue Reading →
Gold is the Fly in the Ointment Today…………with update
In the early trade we are seeing stocks higher, dollar lower, and bonds lower, a perfect start to a recovery scenario. And then there is gold, it should be down at least three percent, but it is higher. While we…Continue Reading →
This S&P Area is Important
Market technicians are rightly very beared up at this juncture of the market as a case can be made for much lower stock prices. On the otherhand this is a market driven by a few, the public is watching, and…Continue Reading →
Top Stories, the Fed and Merkle
The setup for the long S&P short Gold trade got some more traction in the last 24 hours as Merkle maintains an anti-inflation stance for Europe and the Fed minutes went into “the happy talk phase” which encourages some observers…Continue Reading →
Romney should think about an OWL run
OWP, Occupy Washington Liberty, my idea of a successor group to Occupy Wall Street needs someone in the White House. With the Democrats and Republicans doing an implosion I think the people of this country need to look around, decide…Continue Reading →
Getting Ready for Thanksgiving……update at 10:44 AM CST..buying stocks
It appears that I was too optimistic on the Super Committees efforts as reports say nothing is going to happen. So, the can is kicked down the road again and the opening for a new political movement/party for the 2016…Continue Reading →
A Pause
Yesterday stocks basis the S&P 500 dropped to an intermediate level, what we have previously called the 1220 value level, within the bigger 1170 to 1270 price distribution range. Gold started a rout but also has reached a interim level. …Continue Reading →
Gold Blowoff
The gold blowoff rally which started in mid-July 2011 and has been very persistent in its upward movement appears to be coming to the definitive end that we have been anticipating since early September. The goldbug guru’s on CNBC seemed to spend an…Continue Reading →
Gold and the Austerity Meltdown
Regardless of how the politicians in Europe and the US want to spin it, Austerity is the operative economic word and will be until the Fed and the ECB see the whites of everyone’s eyes. And where will the white eyes…Continue Reading →