Archive for October, 2010

$indu. Coiling markets.

Posted on Oct 26, 2010 by .

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Here is what is interesting about this chart.  The rate of change, or speed , of this chart is arresting.  In 10 days, from close to close the Dow has changed 73.38 points and .66%.

In 43 days the Dow has changed 901.38 points, or 13.20%.

What does this tell you?  What it tells us is that there is very possibly hell to pay.

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Sold shorts. Sideways.

Posted on Oct 26, 2010 by .

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http://stockcharts.com/h-sc/ui?s=QQQQ&p=D&yr=0&mn=6&dy=0&id=p39697041562&a=203282119

We took another look at the Qs and decided we didn’t like our shorts there and so closed them.  On reanalysis the trendline was not sufficiently penetrated.  We also closed our SPX shorts and so are sideways trade-wise.  Trend-wise we are of course long, and wondering why they haven’t shaken the tree so as to get rid of all us minor annoyances.

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More on the eye of the storm…GLD, SLV, FXE, TLT..

Posted on Oct 24, 2010 by .

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As this is a compendium encompassing a number of past comments we will just display links instead of the charts.

GLD gave a sell signal, but unlike recent collapses it is just hanging in midair, like the rest of the market.  This sell signal ws for traders, not for investors.

http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=6&dy=0&id=p23550335056&a=203282120

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Eye of the hurricane…

Posted on Oct 24, 2010 by .

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http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=1&mn=0&dy=0&id=p03149889863&a=204730441

Notice how the truism of trendlines is demonstrated here.  A broken up trendline warns of an impending  trend change.

At this moment price is in a very interesting and suspenseful place.  The trendline was broken by a down power bar, which is usually a good signal (to make a trade on).  But so far there has been no downside follow through.

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SPX, GLD, SLV, INDU, and kitchen sink

Posted on Oct 19, 2010 by .

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2010-10-19-spx

Two crucial events here.  The short term trading trendline is broken on a vicious  power bar, and price is nose up against the resistance represented by the horizontal line.

And it is also time for something new and entirely different, as Month Python would say.

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