The treachery of Santa Claus

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p22775897357&a=266398464 We woke up after Christmas (positing that we are now awake) to discover that Santa Claus had left a lump of coal in our stocking (illustrated above) and the…

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Mutual funds: the gift that keeps on taking….

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p22775897357&a=266398464 Today's WSJ records the fact that 79% of mutual funds are underwater to their benchmarks.  This sorry story is exacerbated by the fact that their benchmarks are so low.…

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Blink and miss it….

        We have previously remarked on the progressively violent waves shaking the markets. http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=8&dy=0&id=p71634106866 Very clearly here we can see three waves of progressively expanding amplitude, each…

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Eye of the storm or…

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p22775897357&a=266398464 Sailing before the wind, which we have been doing since Mar09, is easy.  When you hit a hurricane in the Bermuda triangle you have to hitch up your pants…

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Perfect storm…

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p22775897357&a=266398464 While the result is nothing rare, (an expected downwave to curb a 37+ day surge) the violence of its accomplishment was notable -- sort of like a pefect storm…

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