I’m addicted to this short. I put it back on. I’m looking for the market to close in the red tomorrow. Today shocked me a little bit, but my individual stocks have done ok in this up move. I actually mentioned on the morning posts when I sold out of my short (which happened to be a decent money saver for myself) that the “easy money was made last week.” This week has bee...
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Click charts to ENLARGE.Nothing really remarkable about the SP500 action today. Higher high, higher low, bounce off the trendline, low volume. Nothing wrong.______________________________________________________The financials had a decent day today, although with how much conviction. Here's Goldman Sachs. The old saw about financials was 3-6-3 (borrow at 3%, lend at 6%, be on the golf course by...
I wish I could make a screen capture video to show you the whole day… it was pretty cool. But, here’s another nice clean entry. You can see that the upper left chart puts us in a clear uptrend context. So, we’re only looking long for non-scalp trades. Then, you can see in the large right-hand chart that we are pushing out of consolidation with pressure from the large traders. ...
SAN FRANCISCO (MarketWatch) -- Energy and mining stocks fell in correlation with oil and gold prices, but gains in all other sectors left Canadian stocks only marginally lower at the end of trading Thursday.
I'm not going to do a long post today; I'm tired of promising a giant end-of-day post and only getting it done at 1 in the morning (and I'm sure people are tired of waiting for it!) So I'll just mention this quick idea. I've noticed a couple of paper/timber-related outfits that look pretty bearish. I bought puts on them both over the past couple of days. As for the market in general - meh - it'...
Annelena Lobb reports: Goldman Sachs called a dollar bottom, and even used an exclamation point in their report so investors would know they mean it. “The dollar has bottomed!” analysts wrote. Deteriorating economies outside the U.S., including the euro zone, the U.K., Scandinavia, Australia, New Zealand, and Canada, some glimpses of stability in the U.S., and lower oil prices are a...
Hey it might be for grandparents, but I love that Werthers. I sold the LTS position. I’m getting nervous of the financials and that my sell this morning although was protective, looks like it was the wrong call. The market has sold off some due to the financials selling off their highs. 1.3% gain. Meanwhile HOGS has hit a new high on the day. I may even try to short the indexes again. I&#...
In the two weeks that I have been away, there have been dramatic moves in the currency market. Not only did the US dollar carve out a bottom, but the greenback’s recovery has been impressive. In less 1 month, the EUR/USD has plunged 1000 pips, which is a drop of more than 6 percent. The psychologically level of 1.50 was easily broken and now, the currency pair is eyeing 1.45. The Euro con...
According to Reuters and The New York Post, T. Boone Pickens' BP Capital hedge fund was down 35% in July. The fund manages $7 billion. Of course, that loss is probably only on paper. Pickens could get himself in trouble on oil prices. He is bullish enough to be promoting wind energy as an alternative, preaching to anyone who will listen. In the meantime crude has fallen from $143 to $117, not g...
Netflix (NFLX) is in the third day of a severe service outage, the Wall Street Journal reports. The company is having severe technical problems with its shipping system; it sent zero videos on Tuesday, a reduced number on Wednesday, and none today. The company said it does not know the cause of the outage or when it will be fixed. The Journal noted that Netflix has only had one previous similar...