April 2010
1 post
3 Bears Left and Counting.
Neither the Fed minutes, rising interest rates, or anything else is going to stop the bulls from SPX 1,200 and INDU 11,000. Some gurus are suggesting even 1225 on SPX is not out of the question. I don’t chase price, but I do setup for reversals. It’s all a matter of following the herding instinct or going down that path less traveled… and right now that path is cluttered with overgrowth since...
March 2010
1 post
7 tags
Trading After The Jobs Report
One year ago today, March 6th, 2009, if you were in the market or just a casual observer you would have been convinced the end of Western civilization(?) was at hand. The stock market had been in an aggressive accelerating downward spiral and by March 6th value in the S&P500 had been cut by ~57%. And it did it in frightening high record setting single day drops as the credit markets froze up....
February 2010
1 post
3 tags
Jobs Revision and how to trade the market.
Here comes the job report and of course the market will react to the headline accordingly. However, the headline number of an additional 824,000 jobs that we will see is already built into prices. That headline came out earlier in the week… (if I could find the article I’d include here but can’t find it just now). With today’s report, the government will also issue revisions to...
January 2010
4 posts
4 tags
Headlines and Stock Market Trend... have changed.
Headlines drive the market from day to day. Here’s one the market is probably pricing in these days…Some Bailout Goals Still Unmet. You saw the reaction in banks last week, although not attributable to this report. With all due respect to dentists, most of us would rather spend an hour in a dentist chair without Novocain than read a report about what the government is doing with our...
Stock Market Heading to 875 on S&P500
You can read and watch all the Barron’s, Bloomberg, MarketWatch, CNBC, and WSJ gurus about the SPX going to 1200-1300; I’m here to tell you it’s going to 875 first.
You didn’t want to hear that, did you? You want to believe that the Crime Syndicate in Washington will levitate valuations to 1200 and beyond from the 666 lows of March 6, 2009. Ain’t gonna happen.
You...
Stock Pullback or Advance with Fibonacci?
The above is something for you to think about as we go through the week. Ultimately it is how strong the market reacts, positively or negatively, to the news of the week and the underlying ongoing recent sentiment as to whether we have a trend day or not on these Fib Time Series days. Nevertheless, I have Jan. 8th (jobs report Friday) as a Fib Time series (blue vertical lines) day from the 12/18...
November 2009
1 post
“Gordon Gekko was right!”