Archive for March, 2014

Market skitzy. Don’t trust it.

Posted on Mar 30, 2014 by .

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0329spx

 

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p83750808625&a=214966864

As if you would ever trust it.  Only if you were in a fugue state.  Or drugged.  The market has basically been in a muddle for —simple count 20 some odd days — larger  analysis — a couple of months.  We knew we were making a high risk trade in IBB and the market ejected us, as it did in JO.  Contrarians rule.  Perhaps not a surprise given the continued impotence of Congress and the potence of Putin.  (Actually semi-tough, and at that, a semi-tough thug.)

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HEY! Yelling at Yellen…

Posted on Mar 21, 2014 by .

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Janet.  Please shut up.

Never thought we’d miss Greenspan.  But a little more ambiguity wouldn’t be a bad idea.  Nevertheless the market recovered from its hissy fit over Yellen’s unguarded comment that we might be  six months off from going off the sauce.  We’d prefer that they just do it and tell us later.  Plain statements  give the hair trigger  traders an excuse to panic the market as it did for awhile Wednesday.  But for calmer days Thursday and Friday this might have altered the pattern.  Nonetheless Friday a higher high was made in the SPX (thinner than a Paris model seen from the side).  That is important.  But basically we have a drifting market.

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Poulet deja vous…

Posted on Mar 13, 2014 by .

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0313spx

 

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p83750808625&a=214966864

Mr Chicken we’ve seen you before.  In fact every time we make a new high the chicken fanciers hammer the market.  We can understand this — what with Joe Stalin Putin acting semi-tough in Ukraine and the Crimeans trying to erase memories of the Light Brigade and the Chinese also acting semi-tough about their economy and George Soros predicting the end of the EU and … OMG there’s a lot of stuff falling out of the sky out there –maybe they are right… NOT.  It’s just chickens being obnoxious and short term traders making money off volatility.  Tedious, but that’s the state of the markets right now.

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