We stand behind our end game comments of yesterday on oil and gold. Forty years of trading commodities lead me to suspect that this rally yesterday and today is a staged event to scare new buyers into the market to take…Continue Reading →
We are living with the financial equivalent of the Axis of Incompentency. Incompetent not because they are dumb, they are probably three smart guys, two very smart, and one ok smart, but incompetent because their actions are not beneficial to the…Continue Reading →
We do not see anything new to add to yesterday’s perspective comments. It may be that we will all have to wait until the current administration is out of office in order to get oil lower. 8:07 AM CDT
What one does on this last day of the quarter depends on your time frames. The move trhough 1331 on the S&P last week has set the long-term framework for the 1120 downside objective. That however is in the background…Continue Reading →
Today is a key day. This is the day that establishes yesterday as capitulation day for this stage of the stock market cycle. CNBC was all in a lather yesterday about the falling dollar and how that means $ 150…Continue Reading →
With the start of the real election process yesterday it is obvious that the Republicans biggest problem is the economy and the economies biggest problem has become oil. From the very beginning of the Bush Presidency, the secret Cheney oil…Continue Reading →
The market will probably make a broad secondary top, 1350 to 1440 on the S&P 500 over the next three months before heading lower. While oil prices are a factor weighing down the market, the biggest factor is the depletion…Continue Reading →
We are watching this early action today. Short term market calls are difficult at best, but the proximity of the optimum sell level and economic reports later this week tell us that traders should have short poistions in the stock…Continue Reading →
Is it coincidence that the oil market made a base the day of the first current stock market low on 1/22/08 and has rallied 49 percent? The Fed has provided a lot of liquidity during this time and no doubt…Continue Reading →
Whether it be politics or markets, players are very exciteable this morning, change is in the air everywhere and most do not want change. In Israel President Bush has entered the Presidential race after the Mississippi Republican rout and Edward’s…Continue Reading →