Posted on Oct 24, 2014 by WHC Bassetti.
Readers, investors, traders — everybody — is (are) taking a deep breath and nervously looking over his shoulder to see if the Halloween market is gong to serve up some more tricks. The first seven or eight days of this drama were like a boxing match — take a punch to the head which would sideline Ray Rice, then get revenge the next day, everything back to normal — but no, another punch to the head. File this period in your mind and keep the chart. You may be staggering around, but you’ve lived through some historic market action. And we are back to markets we can at least analyze.
Posted on Oct 17, 2014 by WHC Bassetti.
After quite some contemplation and analysis we concluded that the down wave is over — for the moment at least. How long “over” lasts is now the question. Could be a wave, could be a ripplet (a day or two). At any rate, as someone remarked, the “taper tantrum” appears to have exhausted itself.
Posted on Oct 13, 2014 by WHC Bassetti.
The trendline is from mar09. Broken. The upper moving average line is the 50 day SMA and the lower line is the 200 day SMA. Broken. We record them because many non technicians consider them important. What is really important here is the trendline — and the growing volume. The more we look at this the worse it looks. In our personal accounts we have been near perfect hedged, but we lifted the hedge today expeccting a short term bounce. Very short term. Depending on the rest of the week we may just go outright short.
Posted on Oct 09, 2014 by WHC Bassetti.
Posted on Oct 08, 2014 by WHC Bassetti.
The market has been hammered repeatedly over the last 10 days or so, so naturally the WSJ, attempting to explain the unexplainable, attributes it to fear that global growth is stalling. Actually they would have done better to attribute it to the eclipse of the moon, or the eclipse of the Nationals. Articles like this are written by the market’s disinformation committee to keep non-professional traders from understanding what is going on.