Tag Archives: spx

Wake up! Wake up! Santa Claus is finally here.

Posted on Jan 03, 2012 by WHC Bassetti.

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Talk about a roman candle for new year’s. Not that we believe it.  We keep telling you that we don’t believe anything except the sports scores.  They wouldn’t dare lie about those. But after months of lying signals and head fakes this looks like a real signal.  So we bought the S&P the gold and the silver. As always we are ready to jump off the train if it doesn’t go on down the road to the super bowl.  But it would be foolish to sleep through this wake up call without placing a bet.

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Good riddance to the old year. Happy (and prosperous) New Year.

Posted on Dec 28, 2011 by WHC Bassetti.

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Since this moment is the product of the past, here is the past.  The bear market of 08-09.  The dominant fact here is the trendline from March 09.  Not to mention over 700 days of bull market.  But after that, in June prices broke the trendline and then all hell broke loose.  There were several trendline breaks before the June break, which we noted at the time.

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Favorable signs. At last signs of Santa Claus?

Posted on Dec 23, 2011 by WHC Bassetti.

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The Dow is taking out the recent high — at the lower horizontal line, and apparently will take out the next high as soon as it hears sleigh bells.  Perhaps more importantly it looks like this formation here from early November is a reverse head and shoulders (Kilroy) and a definitive break above the neckline should propel the market into the new year.

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Rimm shot on Oracle. Sound and fury signifying…

Posted on Dec 21, 2011 by WHC Bassetti.

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A 348 point move in the Dow followed by…duh… probably qualifies as an idiot if not Shakespearean move.  Trying to make sense of it from an economic viewpoint would be a waste of time. It was a purely technical move starting a new wave after two eight day waves and an antidote to trader boredom.  We suspect there will be eight days of upwave.  After all the idiots (oops, pundits) are all primed and waiting for the Santa Claus rally.  Since we don’t do cycles or analogues we look at these things with a fresh, if jaundiced, eye.  If we were looking for an analogue here it would be trench warfare in World War I.  Nonetheless long is still the way to be as indicated by the Basing Point stop at 1131.

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Curse of the vampire trendline — and living dead politics

Posted on Dec 17, 2011 by WHC Bassetti.

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Some may say that it is zombie politics cursing the markets, and they would be right.  Not just the living dead politics of Washington, but of Berlin and Paris also in this case.  But the real curse of the markets is the March 09 trendline which, with the cooperation of the brain dead politicians, holds sway over the market.  For all practical purposes most  issues are in sideways trends.  Only idiot savants, traders and cheaters make money in these markets.  Some savants — idiots or not — have been touting the Russell 2000 — and it’s not totally a bad idea to have a piece of it.

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