In Thursday’s post I ‘warned’ of a potential ‘island top’, and this morning the signal was unfortunately completed. We completely reversed the gains of the past four days at the open and are down almost 8% from the high 4 days ago. Today will be critical to see if how much we can recoup from […]
today was a healthy day, a consolidation day … kind of a boring day … relatively flat all day. With that said, this is pretty much the best outcome I could have hoped for given the extreme overbought levels we were (and are) at. When markets get to extreme levels they can correct in one […]
wow, what a stellar day! News from Europe (which I won’t bore you with) caused great elation in the markets pushing them significantly higher. The SP-500 finally gapped over and closed above the 200 day moving average, a very bullish signal, although I expect it to falter through this average a few times in the […]
Today was a very healthy up day with some consolidation mid day, but more so … exactly what I had hoped for (from yesterday’s post), a downward movement of a few percent, then a move up to reverse the downside and close at the top of the day’s range. To test new lows and quickly […]
Well, we got what I suggested in yesterday’s post. A significant down day …Nasdaq and SP-500 was down 2% and the Russell is down 3%. I think yesterday that I expected a 2 – 3% decline in the coming days. Although the decline was controlled which is nice to see, it was significant and more […]
I haven’t posted in awhile since I didn’t see much difference in the internals to comment on … We certainly have had a very nice recovery so far with all indexes gaining over 10%-12% for the month of October, and much more from the bottom that happened on 10/4/2011. Today, we officially touched a few […]
Well, as I suggested in Friday’s blog post, we got the correction I anticipated. I hope you followed my suggestion to sell everything and put the cash under your mattress for the next 13 years 🙂 Today’s action was pretty nasty which affected the entire market, in fact 1400 of the top (via market cap) […]
I received a question from a reader whom I respect greatly and thought it would be good to answer to the group. This reader said … I have a question about seemingly contradictory views: On your blog Wed. you ended with: “The market is in charge … don’t fight it, just sit down, shut […]
Wow, what a week. If you had bought into the market on October 5th, the day I emailed all to do so, you would be up roughly 10 percent (even higher if you bought the nasdaq). It has been a nice run to say the least. Since Wednesday I sold all my longer term positions […]
I ended yesterday’s post with … I generally don’t trade counter to the market as I think it is asking for losses, but in this case, my risk/reward probabilities are quite enticing … so I take a small nibble at the short side of the market. Well today I got nibbled … I shorted at […]