One big relationship that we are following in this whole first cycle up since March 2009 is the Dollar / Gold. This stock and commodity sell-off, what CNBC apparently is calling the “Flash Sell-off” has been characterized by a flight…Continue Reading →
On Friday we saw a little bounce that could continue up to the 1100 level on the S&P but the downside objectives still beckon. In a longer term macro sense some buying opportunities will shape up at those levels if…Continue Reading →
One might ask why after March 2009 everything went up, and up, and up. Whether it was stocks, gold, cattle, copper, oil, you name it, except for the dollar it went up until early December 2009 and was justified as…Continue Reading →
The later stages of the speculative market binge that started in August 2009 will be signaled by the meltdown of gold. By meltdown it would not surprise us that gold in the 600’s will be seen by mid-August. John Mauldin’s…Continue Reading →
On the negative side the move below 1143 on the S&P points to lower price levels. On the positive side the market believes that it found the culprit, A Kansas based Mutual fund that was executing a hedge program. I…Continue Reading →
It is about protecting yourself in a time when buying momentum stocks with the crowd will get you in trouble. While I do personally advocate a contrarian approach which involves varying degrees of shorting at times of overvaluation, the importand…Continue Reading →
Since October 16th 2009, when the high on the S&P was 1096, the stock market has been treading in over valued territory. Last weeks low of 1066 was the first crack in that mini-bubble. What is ironic is that the…Continue Reading →
So much is happening today I can think of about five different headlines and the one that I used above is probably not the most important. A couple of the other headlines that I considered were “Gold Blowoff”, “Deflation Lurking”,…Continue Reading →
That is the level where sell stops started being triggered last week on the plunge to 1066. A trade below this level will make the longs nervous, and a close below it would be a cause for serious concern.
Was it a “Fat Finger”, was it a rogue computer program, was it a trader out of control ? All these possibilities are too complex for this situation. To me it looks like everyone got on the same side of…Continue Reading →