I haven’t updated in several days as there hasn’t been much new to talk about. The stock indexes seem to be caught in a range. Commodities look like they are trying to perk up. It seems obvious that there should be wild inflation just around the corner due to all the money the fed is…
Month: January 2009
Market drops despite Obama euphoria, Gold up
Stock indexes dropped sharply today despite the euphoria over the new Obama administration. I thought for sure he’d take a few minutes off from the celebrations to sprinkle some of that magic pixie dust over the Fed and Treasury, and then all would be right with the world. Maybe he’ll do it tomorrow. The inauguration…
Stock, Oil, Gold all down, Baltic Dry Index still down
Stocks were lower again today. Volume was still muted, and the advance/decline ratio still appears somewhat constructive. It still appears that the stock indexes are at least trying to trend sideways instead of down, at least on the daily perspective. The price action today is testing the pivot low area around 12/24 or so. This…
Stock rally stalls as traders return to work
I’ve taken some time off during the last two weeks. Often during the last two weeks of the year volume tends to drop off and often there is lack of follow-through on signals. I don’t have much to say on the first normal trading day of the year. The overall price pattern on the S&P…