Archive for September, 2010

Surge, drift, flush…

Posted on Sep 30, 2010 by .

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2010-9-30-spx

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p01433014824&a=207879904

We are in a bit of tight spot from the point of view of trendlines here.  In effect there is no good anchor point in September, leaving us to basing points and money management stops as we previously discussed.  Nonetheless of some use to us is recognition of the surge-drift-flush pattern which appears to be setting up now.

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Stops. What it’s all about.

Posted on Sep 26, 2010 by .

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2010-9-26-indu

http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=2&mn=0&dy=0&id=p29426735132&a=205639989

In general we evaluate the market through the lense of the Dow.  And in general this is effective.  Occasionally there is a divergence between the three major indices (Dow, S&P, Qs).  But a buy or sell signal in the Dow we generally take as a marketwide signal, and the same with sell signals.

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Power bars in the QQQQs and S&P — Market for buying

Posted on Sep 25, 2010 by .

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2010-9-23-spx

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=1&mn=0&dy=0&id=p62881197949&a=207879904

Two power bars in five days.  One a breakout, and the other a confirmation.  Rushing on to October we only had three down days after the breakout.  What does this mean?  Double dippers, chicken littles, bears throwing in their hands and getting out of the way.

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Rare earth — rare birds. REE.

Posted on Sep 24, 2010 by .

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2010-9-23-ree

http://stockcharts.com/h-sc/ui?s=REE&p=D&yr=1&mn=0&dy=0&id=p58552130685&a=209299648

Financial writers can be snarky at times and the current Marketwatch has a semi snarky column on Jim Dines and rare earths.  Dines is indeed a rare bird in more ways than one.  We like to go to his booth at investor shows.  Not to see Dines.  We know what he looks like.  We like to see the chesty birds he fills his booth with.  Investor shows are boring affairs and a little sex appeal never hurt any writer’s letter.

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Money talks. Especially when it’s the euro. It’s talking now…

Posted on Sep 22, 2010 by .

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2010-9-22-fxe

http://stockcharts.com/h-sc/ui?s=FXE&p=D&yr=0&mn=6&dy=0&id=p88765093810&a=203282122

In case you missed our earlier letter about the euro, here it is re-emphasized in spades.  Broken fan lines, gaps, power bars and eye catching volume.  And it just took out the nearby high.

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