10,695 holds. So far this has been a good technical break, with old lows providing support. However, there has not been any good rallies off of these support levels. 60 ticks is not a very substantial rally. I was looking for...
Read MoreYesterday’s high at 11,400. Currently trading at 11,023. I hope you had a small short position going into 1) President’s speech and 2) the anniversary of the 911 attacks.I firmly believe that NO MATTER WHAT the...
Read MoreGold, the darling of the TV commercials and AM Radio end-of-times folks, spiked up to $1,923.00 yesterday. Today’s low is $1,816.00. That’s a 5% haircut in 12 hours.I have been a reluctant long since $1,600 lows back...
Read MoreDow Support we can look to? 10909, 10713, 10579, 10401 could all come into play today.S&P, 1133, 1112, 1103, 1076 would be levels we would look for support. We seem to be knee jerking from Europe and Asia panicking because...
Read MoreLast Thursday before Mr. Bernanke spoke, I listed 11,674 as a sale level in the Dow. This morning, after the unchanged employment figure, the market has given us the chance to take out 378 point. That’s $3,780.00 for every...
Read MoreWe reached some decent resistance in S&P at the 1210/1211 level . 12,425 target hit as well in the Dow Futures. Not saying the top is in, by any means, but i think we are over done a bit on this “relief” rally....
Read MoreTomorrow Bernanke Speaks. My guess is it will be a non-event. Unless things un ravel more, and i define unravel, as unemployment accelerating above 10% or 2) Europe Defaulting on its debt: I can’t see a reason for a QE3. I...
Read MoreI wrote before how the month of August is typically horrendous for volatility. Program traders with their “disruptor” programs push thin markets around. I found it interesting about a month ago I was doing my weekly...
Read MoreIn the Dow futures, the recent high was on July 22nd at 12,750. The low of the move was 11,401 on Tuesday Night. Today’s high 11,296 is a 38% retracement. The next level I’d sell into would be 11,574 which is 1/2 way...
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