Archive for April, 2013

New high, new basing point…

Posted on Apr 29, 2013 by .

0$SPX&p=D&yr=0&mn=9&dy=0&id=p88150915824&a=214966864 Last week while twiddling our thumbs and indulging in occasional fits of rage at Congress — delay the scoundrels getting out of town at Washington airport and they can modify the sequester in milliseconds– starve a few kids, no problem –we amused ourselves by closing our metals shorts and peeling off more of our […]

Continue Reading

Restoration of order..maybe…

Posted on Apr 24, 2013 by .

0$SPX&p=D&yr=0&mn=9&dy=0&id=p53507150799&a=214966864 Frightened by the proximity of the trendline prices rebounded — even with fake tweets bombing the market for 4 minutes.  WE now have three days of strong rebound.  The pattern is somewhat difficult to understand.  It might be an Alpha-beta-gamma (  (Previous letters explaining Alpha-beta… pattern.)  On the assumption it might be we […]

Continue Reading

Broken and breaking trendlines…

Posted on Apr 19, 2013 by .

1$SPX&p=D&yr=0&mn=9&dy=0&id=p09343555801&a=214966864 The uppermost (77 day, 12/31/12) trendline looks to be broken and the 109 day (11/16/12) is cracking.  We say looks to be because in Magee’s opinion a trendline had to be broken by 3% to be a valid break.   Being the little boy who always disobeyed and colored outside the lines we start hedging  […]

Continue Reading

Up down, up down, up… drunken squirrels…

Posted on Apr 17, 2013 by .

0$SPX&p=D&yr=0&mn=9&dy=0&id=p34555890157&a=214966864 Back during the bungee markets of Jul-Dec 2011 We compared the markets to drunken squirrels running up and down a tree.  It is entirely possible that we are entering a period like that considering that we now have three days of bungee markets, the Dow moving in triple digits each day.  That previous period […]

Continue Reading

Bear attack finally happens, out of the blue — or red if you’re thinking of China

Posted on Apr 15, 2013 by .

0$SPX&p=D&yr=0&mn=9&dy=0&id=p34555890157&a=214966864 The bear attack (the REAL bear attack) we have been talking about for a week or so started on the opening today and drew blood all day long.  Much like the terrorist attack on the Boston marathon.  The reasons were trumped up of course, but once the herd stampeded it was so long little […]

Continue Reading