Recent chrisr333's Commentaries
Stock Index Rally is getting really really old
This rally in S&P has been nice. Its especially nice if you faded the WSJ and NYTimes bearish news columns which were permeating the land between Christmas and the first week of January. If you go back and read my entries, I suggested fading this bearishness.Alas, now that the S&P is 11.58 rallie...
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Thrusday USDA holds no surprises
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WSJ Likes Corn?
Fortunately, my shorts in beans which were profits remained profits even on this bounce. That's why I use stops.As for Corn, CH, old crop has been on a nice bounce. We are flirting with the 100 day moving average, a big technical level. 6.50 will be a bump in the road on a rally which will be fue...
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Tags: futures
I still like fading the S&P Rally, as...
Shorter term, I am still suspicious of the rally in the S&P. I was bearish slightly since 1/23. Today is 1/27 Yesterday we seem to have had a blow off top. People got caught long and then when the negative housing numbers came out, it dampened the initial fervor to buy stocks after the Fed's Dovi...
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Tags: futures
S&P cash has rallied 119 points in last...
Interestingly, the S&P cash has bounced 119 point in the last 4 weeks. On December 19th, we posted a low at 1203. Today's high so far, has been 1322. S&P cash is up at a long term trend line resistance today. Three points of to connect: First 1) High on 5/2/11 at 13.70 Second high 2) 7/7/11 at 13...
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1/17/12 Grain Comment: Beans Bounce w/ US $ dip
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Sayonara Grain prices or now
USDA in a word. Bearish> Looks like we are headed back to our December lows. Remember those? 11.00 bean, 5.80 corn, 5.77 wheat?We may be headed longer term towards grain returning to being prices LESS than the price of production... Just wait, Its possible. I hope I am right, but... if we plant 9...
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Tags: futures
Gold could melt to 1500 shortly
Currently Gold has violated the second of the three trendlines I have written abuot before. Back on December 14th and 15th, Gold found support at 1570. We rallied to the high of 1611 on the 21st. Today's settlement below 1578 opens the floodgates to a test of 1500.That is all.CER
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Tags: gold
Dow Pops to new 5 month high/ no...
Here we go again, with the Dow making a fresh run above the 12250 level in the cash. 12,500 should be resistance. However in the broader S&P 500, we have a ways to go to challenge 1292 which was the October 4 month high. Currently trading at 1265, we have 30 handles to go to challenge that level....
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Tags: stocks
Gold at 1575-1572 Hits First Long Term Support
There are 3 long term trend lines to look at in Gold.The First extends back to the Sep 2009 low at 1022 Hits at The Feb 9th 2010 low at 1070-=-- It projects support at 1350.. HMMMThe second Starts at the Feb 9th low at 1070, hits on the July 28th 2010 low at 1071and projects support at 1485.The t...
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Dow Index remains stuck below 12,200, what...
I can't for the life of me wonder what is keeping the lid on Dow index above 12,200. 8 times in the last 2 months, we've challenged that level and fell back. Last Thursday we traded well above that level, up to 12,293 intra-day.. Break out traders had their windows broken out, however, as the ind...
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Tags: futures
Fade the Public and the Professional's...
This morning a friend sent me a statistic I found very interesting. If you have read my stuff at all, I am a big fan of being contrarian.Presently we have a situation where the public turned bearish stocks a few months ago. As of this writing, that bearishness has only gotten more extreme. Even m...
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Tags: stock-futures | dow
Dow and S&P Diverge
Dow Index moves to a new 5-month high and high settlement. No confirmation with the S&P though, with that index 25 handles away from similar multi month highs. For now, I am suspect and would be more inclined to sit tight and look for a definitive move.My opinion is that we will probably drift hi...
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Tags: stock-futures | dow | futures
12,183 today's high (What lurks above 12,200? )
12,228 on October 27th, 12,194 October 28th, 12,203 on November 14th, 12,178 last Friday, 12,183 today...5 trading days over the past 6 weeks. This is high tick that extends back to August 1st... So we are sitting at a 4 month high and can't get through. I am not sure what this means. Quite frank...
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Tags: stocks | futures
120K new jobs, unemployment drops to 8.6%
120K new jobs, unemployment drops to 8.6%. Interesting that this would have normally resulted in another strong performance. Here at 9:23 AM, two hours since the data was released and Dow futures are only up 12,128... Makes me stop and say hmmmm. In fact we may get a buy the rumor sell the fact a...
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Tags: economy
