Short-Term Retest Day
The 822 support level on the S&P index and 903 resistance level on Gold are in play again today. The most likely result is the S&P will find support at 831 and then start a run up to the 915 level over…Continue Reading →
The Game Plan
History based CEO Projections
As we mentioned yesterday, the first quarter corporate results were for a transition period. The big issue for most investors is the forecasts going forward. As such I would not put much weight on the CEO forecasts we are and…Continue Reading →
Overnight Relief Valve
Over the past few weeks it seems like most of the overnight S&P sessions have seen a big decline between 6:30 PM and 6:30 AM in the morning. This selling has been constructive for the markets, ridding excesses and allowing it…Continue Reading →
Tea Parties and Secessionists
A lot of caloric energy is being consumed with all the right wing raging this week. They might be better off if they had believed in the change and bought some stocks in March rather than megaphones and poster paper. …Continue Reading →
A New World Maybe
The market technicals are the most important thing in the short run. It will be good to see the S&P’s consolidate above 840. Short-term resistance comes in at 890 if the base gets built. We like to point out…Continue Reading →
Fat Cat Rebellion Almost Over
As far as I am concerned February 17, 2009 was the start of the negative surge. To best illustrate this I am re-publishing our posted coments from that day, see below. The markets move to try and build the 840…Continue Reading →
What to Do Here ?……Update, Done Nothing
I generally reject the obvious choice, which today would be to sell out long positions and join the rest of the world in taking a pessimistic view of the automakers. So that answer should be obvious, don’t sell because of…Continue Reading →
It is Tempting to be a Seller
It is so easy to sell this market, we almost got involved in selling yesterday when we started thinking more about technical signals and profits rather than the underlying psychology of the market. The market is at an important juncture again and…Continue Reading →
Game Changer Day Needed Now……..Interday test of 803 would be Good..++
Yesterday the market had kind of a text book light profit taking kind of day. It was not a big deal because there were not many traders with profits to take. Keep in mind that the sellers continue to dominate…Continue Reading →
A First Comment
The rally yesterday was impressive, what one does from here will now be the difficult part. To us there is no question that the 838 S&P low of October 10th 2008 looms as the big barrier at the moment. That…Continue Reading →