First, I want to let you know that I'm pleased how popular the "live chat" feature is, but rest assured, if someone claims to be me, it isn't. I don't have time to shave (or, usually, even get dressed) in my life. God knows I don't have time to hang out in chat. So if someone's there claiming to be me, it isn't. Promise. (Or if it really is me, you will be dazzled at my virtually impossible typ...
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I was lightly long going into this morning where I flipped that position and added to it at the close. I’m short the SPX only. I’m looking for a nasty day tomorrow where maybe we see an intraday reversal. Maybe not. I sold TZA waaaay to early but still managed 7%. I actually had TZA down at 90, but stopped myself out on panic early in the day. Tags: spx, tza
Cheer up. Your losses can’t be as big as Uncle Warren’s.
Apologies for a late medical meeting, call night, Internet problems, and bad market rising.Another day, another beating for much of Wall Street.Can we distill this to a few charts?Thirty year bond yield. Deflation incarnate._________________________________________________________SP500...bombs away?_________________________________________________________Mamis-Meisler Breadth oscillator...10 pe...
Weak data was no incentive for buyers to follow through on yesterday's late day bounce so we stalled at the 38% retracement and prices reversed (nothing new) and retested range lows. The FOMC minutes reminded us how bad things really are and provided sellers the edge into the last hour.High level of short expiration put buying ahead of OPEX Friday.The VIX still feels like a bear flag despite th...
In early trade, AEM and ABX, my two gold watch list stocks rose to the top of the % gainers list on a weaker dollar. I was waiting for AEM to retrace or form some NRIBs at the base of resistance (blue line). The dollar ended up being a fade and gold pulled back in. However, I noticed that AEM was halted pending news. Briefing.com reported that AEM announced a $252 mln private placement; or 8 ml...
This is certainly the season for the bears. They were able to break the 2008 lows on the S&P 500, Nasdaq and Russell 2000. The Dow has somehow managed to hold above its October intraday low and I’m sure everybody will be watching that level in the coming days. That Dow low holding seems to be the last hope for the bulls in the short term — and that would be nothing but hope. Th...
My new downside target for the RUT is 350. Should be easy considering we were at 490 on Monday. The momentum is still strong to the downside.RUT Monthly Chart:
I had to pull out to a 10 Year Monthly Chart to illustrate the support area at 775 for the S&P 500. This is the first target. Momentum and trend is still to the downside.SPX Monthly Chart:
The Head and Shoulders pattern we've been tracking on the Internet Sector Index was completed today as seen on the chart below.Internet Sector Index Weekly Chart: