Tag Archives: may10

Had enough already? Say uncle or we’ll hit you again.

Posted on May 27, 2010 by WHC Bassetti.

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2010-05-27-induYawn.  As Peggy Lee used to sing, Is that all there is?

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Bungee markets continue. Dow faints of dizziness.

Posted on May 25, 2010 by WHC Bassetti.

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2010-05-25-induOnce again today looks like a reversal day.  The Dow was down 290 points in the first five or ten minutes and spent the rest of the day clawing its way back to finish 22.82 down.    We have called these bungee markets and the term is vividly descriptive.  The trading day two days ago looked like a bungee reversal day– evidently wasn’t.

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Change of direction? Change of rhythm? Musical chairs again?

Posted on May 22, 2010 by WHC Bassetti.

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2010-05-22-induAnalysis is a funny business.  It’s a good thing that it’s only money at issue here and not blood and lives.  What’s that?  Money is blood?  Well, yes, it can get serious, but if you take it that seriously it is life and death.  But you know what they say — if they can’t take a joke….

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Broken major trendline. Serious consequences.

Posted on May 20, 2010 by WHC Bassetti.

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2010-05-20-induWhile it is entirely possible that prices will climb back above the trendline now being violated taht is not the way to bet at the moment.  As for the knife catchers they are trying to treat this sell off as a buying opportunity.  And it may well be.  But that is not the way for prudent investors to bet.

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$spx, $indu — a reversal day?

Posted on May 17, 2010 by WHC Bassetti.

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2010-05-17-spxToday looks very like a reversal day.  After markets selling off earlier in Asia an excursion over 100 points down was completely expectable.  To reverse field and finish up on the day is characteristic of a reversal day.  As always (readers will begin to think this is our middle name) we are suspicious.  But at the very least for the bull case this is more optimistic than finishing at the bottom.  That would have been a very black bar indeed with pessimistic expectations.  Possibly very pessimistic expectations.

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