Financial musings, stock market analysis and position updates
related to Resnn Investment LLC’s flagship fund, ‘The One’.
Today was a very strong day in terms of the tone it set. Yesterday we had the makings of a potentially very bearish situation, but today the market spoke loudly that we want to go higher. we closed on the SPY and IWM above yesterday’s high which means that all people that shorted yesterday are […]
minutes ago, we opened up roughly 1.5% higher than the close yesterday (spy and iwm) … almost completely erasing yesterday’s movement. We will see if it can hold, but this is a fantastic bullish start to the day. We got within pennies of breaking yesterday’s high, which also coincided with the confluence of the 5 […]
A pretty nasty day today with a lot of volatility. Good news is that the low of the day was put in within the first few minutes of trading, but the bad news is that it basically closed at the same level (higher, but at the lows of the day nonetheless). I was hoping to […]
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) […]