Archive for October, 2008

Dialing for dollars, or betting the buck

Posted on Oct 29, 2008 by .


October 29 2008  The upwave in the dollar has ended for the moment.  Traders will be out or short.  Investors should be watching for the downwave.  We don’t really give lessons in these posts, but investors should be aware that upwaves are followed by downwaves, which when exhausted serve as basing points for stops.  Trend […]

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Stranger and Stranger. Another huge day in the Dow. Test of Low?

Posted on Oct 28, 2008 by .


October 28 2008.  Dow up almost 900 points as jaws drop.  Some jaws are very prominent jaws.  It makes one wonder whether the Dow has snatched victory from the jaws of defeat.  Mark Hulbert (one of the jaws at issue) at Marketwatch in his current column opined that the Dow had failed the bull case. […]

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Dow teeters on edge. Bottom fishers catch deadcat fish?

Posted on Oct 25, 2008 by .


Dead cat.  Get it?  The dead cat bounce is over and the market is now the site of a tug of war between bottom fishers and paniced sellers.  As there is no clear signal the way to stay is short (if you were already short) or out.  New shorts or longs or anything at this […]

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Perverser and perverser. Gold teeters on edge (or over edge)

Posted on Oct 22, 2008 by .


There are two stop points here, one is 3% under the September low, at 70.33 (on close) and the other is 5% under it, 68.88. If GLD does not hold here at these stops we will be out and waiting until a confirmed uptrend begins. Today’s action is good and bad. Good because it has […]

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Gold perversities

Posted on Oct 21, 2008 by .


A reader question looks for an opinion as to the gap in July. First of all we know all the market mythology about gaps and their being closed and such.  By and large we ignore it and focus on the immediate context.  Sometimes closing the gap is very important. Sometimes it is irrelevant.   What […]

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