The press and CNBC mouthpieces seem almost unanimous that Ben Bernanke will dump cash on the economy at today’s meeting. I would be very surprised if that occurs. He seems, by all indications that I see and read, attempting to…Continue Reading →
Technically today is a key day in what will be a pivotal week that will set up market direction through mid-October. Be ready for anything. 1105 and 1140 are important S&P numbers during this period.
The next bull market in stocks will not be based on the rising oil and weak dollar that prevailed yesterday. Phantom demand and its attendant measurement, phantom value, are a function of Hedge Funds and funny money looking for holes…Continue Reading →
As you well know, we are watching the Gold / Dollar ratio for a signal that a real stock market rally is ready. So far, since mid December 2009, the ratio has been treading water, some ups and downs but…Continue Reading →
As the stock market stages for a move down to the value area of support (S&P 890 to 930) it might be a good exercise to think about what will allow things to change at that point. Again the word…Continue Reading →
If one looks back at the patterns of market action that led to the 2008 waterfall, two periods stand out, one starting with our comments of May 19, 2008 and the second with the secondary rollover in mid August 2008. …Continue Reading →
How can this be? It’s simple, they currently are just added to the cash hoard of the big corporations. The over-riding issue of private debt is the elephant in the room. The deflation of the real estate boom will take…Continue Reading →
We have made no changes in our portfolio this quarter to date. The S&P 890 target remains, 22 percent below current levels. The indicators we watch still point to lower stock and commodity prices. Both the important dollar / gold ratio…Continue Reading →
The stock market is in the middle of a macro sell-off with the S&P index having upside resistance in the 1045 to 1050 area. There will be some bounces at times and they will be sold. On the hopeful side…Continue Reading →
This pre-holiday, end of quarter week will be need to be watched for breakouts of the current trading range on the S&P, of 1070 to 1105. The strongest direction will probably be towards lower volatility and flat momentum as everyone…Continue Reading →