Todays market, in fact this whole week’s market has been characterized by low volume, poor leadership, and generally poor company. A case could be made that one should be an aggressive seller here at the 1380 level. We are however,…Continue Reading →
Based on the the employment report, look for the 1330 area on S&P to be important support today. If that area holds we will go back to 40 percent net long from the current 10 percent.  The dollar is important…Continue Reading →
There are reasons to think that the stock market is headed higher over the next few months, but good employment numbers will not be one of them. The market is positioned for no negative surprises in tomorrow morning’s report. Active…Continue Reading →
This weeks stock market rally was probably mostly short covering. The CNBC talking heads say we are not out of the woods, more good news is needed. That is good, remember this bounce bottom is a contrarian event. All that…Continue Reading →
The 6.5 percent rally from last weeks support area runs out the easy money for the quarter, from here there will have to be some real work.  We have just cut our long position to 10 percent at 1365 on…Continue Reading →
The First quarter was brutal, the S&P 500 was down 10 percent and gold and the AG (grain) commodities were hot. Â At the same time the dollar and interest rates were under pressure as the credit crisis unfolded. The so-called…Continue Reading →
The end of quarter dressup of mutual and pension funds should be completed now. The trading positions we liquidated at 1357 on the S&P earlier in the week are being reinstated as we go back to a 20 percent net…Continue Reading →
We are back to the 1335 to 1375 trading zone on the S&P 500 . Dollar is down into what should be a support area.
With the base established in the stock markets we are entering a more tricky phase. In spite of all that has happened this year, exuberent stock buyers are still everywhere. This means that short term technical indicators will get very…Continue Reading →
While yesterdays late panic and the overnight drop to the 1286 area are worrisome, the 1305 S&P area should continue to be an important measuring point. It appears that the expected commodity sell off triggered some margin calls and were a…Continue Reading →