Rumors are circulating that in an effort to enable its exporters to compete effectively with China, Japanese authorities are considering some sort of currency “peg,” perhaps to a basket of currencies, or vis-a-vis...
Read MoreMy intraday pattern work in NYMEX crude oil futures has triggered very preliminary signals that the overnight weakness from 86.09 to 83.97 is the start of a larger correction or period of weakness that projects into the...
Read MoreIf you can’t beat them, join them, is what we’ve heard throughout the years. Europe is in a very dire situation with regards to defaults and their banks. Sarkozy from France and Merkel from Germany got together over...
Read MoreApart from Sunday’s announcement from leaders Merkel and Sarkozy that both agree that European banks must be recapitalized (the details of which will have to wait until Nov 2), let’s notice that today’s almost...
Read MoreThis was a very interesting, and a fun week for the stock market. Things didn’t start great with the S&P 500 losing key support at 1101, breaching as low as 1074 intraday. No fun for the bulls, but there were shouts of...
Read MoreThe decline in the emini S&P 500 off this morning’s high at 1173.75 violated very important near-term support at 1151-1150. This has triggered an initial downside follow-through to 1144.75, likely on the way to test...
Read MoreWith Schlumberger (SLB) up 16.5% since Tuesday morning, forgive me if I tighten my stops aggressively to preserve the bulk of the profit. The recent wicked volatility in both directions requires traders in the position to...
Read MoreFor the fourth consecutive week we saw inverted numbers with regards to the bull-bear spread. I thought that after the action two weeks ago we’d see readings close to 10%. I was wrong as it was only 3%, but it was still...
Read MoreWhy did I bail out of my long ProShares Ultra S&P 500 (SSO) position (+7% in a day and a half)? Largely because the e-mini S&P 500 was bumping up against an important one-week resistance line at 1129.00, which in THIS...
Read MoreIs this a fun market or what! I know all of you have been enjoying the bear market ride for some time now. Well, maybe you haven’t been enjoying it, but not getting caught up in it has to be fun to some degree? No? Ok,...
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