Posted in Daily Comment on Mar 19th, 2008
Stock indexes gave up most of the gain from yesterday. They didn’t give up the gap open, but reversed all of the gain from the day session. I won’t bother to post a chart. You can just add a black candle next to the up candle from yesterday. No change in the indicators. I don’t […]
Stock indexes rallied sharply today. The indexes gapped up right on the open and proceeded higher throughout the day making a nice trend day up. The price rejection yesterday was a real clue, as was the bullish reaction to the news. You can see in the S&P etf that momentum continued to move higher during […]
Posted in Currencies, SPY, Stock Market on Mar 17th, 2008
There was much news regarding the fire-sale of Bear Sterns that promised a very weak opening today. I won’t bother repeating the detail of the news as it has been reported in every media all day long. The more important aspect of the news to me is how the market interpreted the news. The stock […]
Posted in Daily Comment on Mar 16th, 2008
Sorry I didn’t get a report out regarding the drop on Friday. It seems after such a volatile week in trading the only thing I want to do after the market close is turn off the computer and get to the gym. I’m not quite sure what to make of the action Friday. Bulls could argue […]
Posted in Gold, Daily Comment on Mar 13th, 2008
Gold hit the magic and much anticipated round number of $1000 today. It fell back a bit mid-morning, then rallied up through it one more time, and then settled back about three dollars under that level. CNBC kept reporting how the back months held up above $1000, therefore traders must be anticipating higher prices in […]
