The power of the market that allowed it to launch itself out of the hole was impressive yesterday and gives us the idea that this summer rally could go past 1320 maybe even to 1360. One must keep in mind…Continue Reading →
A number of commentators have pronounced last week’s rally in the stock market as a dead cat bounce. It could have been,  but it would appear to us to have had more energy than something dead although we would point…Continue Reading →
The broad S&P trading range of 1200 to 1320 remains in place. The topside of the inside 1230 to 1290 range was tested earlier this week, leaving the 1230 area as the next test and an area where traders can…Continue Reading →
Markets do funny things, maybe strange is a better word, but here today at mid-session we are seeing our portfolio make a new record high and we have not made a trade in the past two weeks other than adding…Continue Reading →
We wished we would have covered our short stock market positions a week ago when our portfolio closed on a record high. While the portfolio is still up for the month it is down 2 percent from the record high. …Continue Reading →
It would appear that the magicians have put up a smoke screen that has reduced the panic level substanhtially, so much so that greed has come roaring back. For the moment this sets up a trading range of 1230 to…Continue Reading →
Bernanke will be grilled by congress the next two days. This will add an element of turmoil to an already edgy market. In the S&P there are a number of analysts looking for 1170 to be the bottom. The swingcount…Continue Reading →
So much for “no entity is to big to fail”, another rescue plan is unveiled over the weekend. It is a losing game. When mortgage lenders were making loans in 2005 in a residential real estate that was 46 percent above…Continue Reading →
A pre-holiday session. For the S&P we see an early rally because there have been no surprises so far this morning, the 1260 to 1290 area is kind of a no-mans zone, a close outside of this area would be…Continue Reading →
Tomorrow will be an interesting indicator of what this stock market is made of:Â 1) the employment report is expected to offer more bad news;Â 2) the ECB is expected to raise short-term interest rates;Â and 3) tomorrow is the…Continue Reading →