Financial musings, stock market analysis and position updates
related to Resnn Investment LLC’s flagship fund, ‘The One’.
in my last post (2 trading days ago due to the shortened Thanksgiving trading week), I suggested a bounce would be coming and today we clearly received it. I think Thanksgiving week with the low volume associated with it delayed the bounce, but it came today and it came big … up almost 3% on […]
Although most of my end of day indicators are confirming this downtrend with little indication of a turn around, one of my indicators related to the VIX is flashing a strong buy signal. Although I will not be acting on this signal, I would expect a bounce tomorrow and possibly Friday as well. Granted with […]
I wrote a few weeks ago about a candlestick pattern called an “island top” which is a bearish pattern. Today we completed the pattern, by opening and closing completely below the trading range of the previous month.Things look pretty bearish, but it is completely news driven related to the Super Committee lack of ability to […]
On Monday, I suggested that if the Bulls ‘want it’, they better get on with it … and well, we saw the outcome … the major indexes have lost 2.84% since then. Complacency is the enemy in the markets. We broke a number of major support and trendlines yesterday and held below them today. Again […]
The market continues to be news driven and Europe is causing a lot of concern right now. We still sit in the trading range that I have spoken about much over the past month. We seem to be spending more and more time in the bottom half at that range these days, which isn’t an […]
today calmed the fears that I had expressed yesterday. Going into a weekend with the numbers we had yesterday would have probably created a lot of concern on the face of investors, but with a strong close today we have removed that fear factor. Are we out of the woods yet … nope … just […]
Yesterday’s weakness coupled with today’s lackluster response makes me very nervous. We are still sitting directly in the middle of the trading range I have been speaking of for a few weeks, whereas yesterday we were at the bottom of this range … so currently we are still ok, but … I am seeing little […]
For any of you that has seen the movie “Father of the Bride”, one of my favorite lines in the movie is when Steve Martin is talking in the first few minutes of the movie about how as soon as he ‘thought he had it made’, he heard a voice call out, “not so fast […]
today was a great day in the market. A number of important resistance levels were broken and prices held above them into the close which is psychologically important. the SPY closed above the 200 day moving average (it previously closed above this on 10.27, but only stayed above it for a day and then it […]
The market seems confused, doesn’t know if it wants to go up or down… We had what is called an ‘inside day’ or in candlestick speak, a ‘harami’. Basically it means that the price action today was ‘inside’ of the price action from yesterday. doesn’t mean anything significant, except indecision. I am also seeing doji […]