Archive for April, 2010

Messing with the portfolio–bought UGL (gold) SPXU (short S&P)

Posted on Apr 30, 2010 by .

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Examining a large group of ETFs and broken trendlines in the indices we decided to go into the weekend moderately hedged.  So we bought the short S&P SPXU and added on to our gold position with a leveraged gold ETF, UGL. We will be posting charts later today or tomorrow.  This is a trader’s decision, […]

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PALM ing the EURO. Waving the Dow.

Posted on Apr 29, 2010 by .

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PALM.  A shell game? Still down.  System wins again. Still up.  System wins again. As we pointed out, PALM was a shell game.  The takeover price is a disappointment if you bought it after the signals. And whereas we remarked that we were sideways the euro as marked on the chart the system, as noted […]

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More barbarian stops. $indu

Posted on Apr 27, 2010 by .

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In view of the barbarians pouring over the walls we thought we would update stops for the Dow.  These points may be used as benchmarks for the S&P and the ETFs.  Not much of an update.  The stop of 9729 we set back in December is still the Wave low stop.  It held the Dow […]

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Out Robbing Banks…C and BAC

Posted on Apr 27, 2010 by .

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No Per Petterson we, nor no Luce neither.  But today traders are robbing us of some of our paper profits in C and BAC.  When the barbarians are coming over the walls it behooves one to look to his defenses. What we have here is the inevitable downwave.   When this exhausts itself we will be […]

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Dow 13750? Predicting is always difficult…

Posted on Apr 25, 2010 by .

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Predicting is always difficult, and above all when it concerns the future.  As Nils Bohr was fond of saying. First of all let us make clear that we do not stand behind our predictions.  Or, as John Kenneth Galbraith said, the purpose of economic forecasting is to make astrology look good.  The interpretation of the […]

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