Technical Analysis of Stock Trends

Barely were the words out of our keyboard before the market bit the shorts

Posted on Nov 21, 2008 by WHC Bassetti.

Yesterday we opined that we felt an upwave coming on.  Come it did, with a vengance.  But the damage is done in terms of the chart pattern.  The solid break of the old low presages more down action — always and if the nearest wave high (that of November) is not taken out.

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And now for something new and entirely different — lottery tickets

Posted on Nov 20, 2008 by WHC Bassetti.

Gaily dancing through the daffodils and picking off the petals we felt like doing something crazy, so we went out and bought some lottery tickets.  We never buy lottery tickets in real life.  As they say, you have the same chance of winning the lottery whether you have tickets or not.  When we used to be an ingenero de sistemas computadoras in Mexico the programadores used to rope us into sharing a ticket with them.  The manager, a prince of a guy, and a Stanford man, called the lottery la impuesta idiota.  Or, the idiot’s income tax.  These lottery tickets we just bought may have the same chances but sometimes we just break out and do something crazy.  We blame it on our evil twin Karnak.  

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The straw that broke the market’s back?

Posted on Nov 20, 2008 by WHC Bassetti.

November 20 2008

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Apocalypse soon? The S&P at the tipping point

Posted on Nov 18, 2008 by WHC Bassetti.

Noodling about the S&P and where it might go from here.

A short time ago we stirred up one of the lists we belong to by commenting that the SPX might go to minus 4.  We had to post a follow up to assure them that we were joking.  Of course everybody hates a jester when times are like they are.  Grim.  In general.  Here is the chart we showed them:  

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A continuation of Getting technical about the Dow.

Posted on Nov 14, 2008 by WHC Bassetti.

December 1 2008 The Dow takes a 7.7% dive.  This is a surprise?  No.  What’s a surprise is the abruptness of the down draft after the up draft of last week.  

Here is where we left the Dow measuring waves on November 14:

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