Archive for January, 2010

FXE, EEB, CRIS, DJP, SLV, QQQQ, DIA, SPY. We told you so….

Posted on Jan 30, 2010 by .

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100129fxe

The list above is only a partial one.  It is a list of issues we have recently disrespected, sneered at, denigrated and bailed out of. Add to it EEB, NYC, and TBT.  And what about GLD and SLV (as we have said we are hedge these, or radically lightened up).

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Bagged in MOT.

Posted on Jan 29, 2010 by .

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100129motThere you were happily listening to your car radio and thinking happy thoughts about Motorola when a stock market accident occurred and you lost a lot of money in the stock.

Well, you shouldn’t have been long anyway, and if you are into reversing you should have been short.

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Saluting the flag in the Dow.

Posted on Jan 29, 2010 by .

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100128induNailing chart patterns as they develop is akin to sawing naked ladies in half without drawing blood.  The market will always have the last word (you may remember the supposed head and shoulders which developed in the Dow from May to July, which everybody and his dog identified) and if the identification sucks you into a bad trade the last word will be “Gotcha!!”

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Flagging the Dow and dead cats?

Posted on Jan 27, 2010 by .

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100127induHere are the present considerations in analyzing the Dow:  The Dow is supported by two trendlines, both of which are penetrated, but not decisively.  Momentum is decisively down, but as we know momentum can be reversed at any time (see March 6, 2009).

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Big doings in the Dow (and the market)

Posted on Jan 24, 2010 by .

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100122indu3 — 572.25 — 5.33 — 50

Three days.  572.25 points.  5.33%.  Closed below the 50 day low.  50 day.

Technicians who know about systems know about the famous Turtle System, which is a variant of the Donchian high/low breakout system.  In this system, to radically over simplify,  the trader buys on a break of the 20 day high and sells on a break of the 20 day low.

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