Posted in Daily Comment, Gold on Sep 1st, 2010
Not much has changed since my last post. The gold market is still over-extended in my opinion, although there are fundamentals that will probably support this market for a very long time. The stock market is still swinging wildly from day to day based on whatever traders think the news is meaning at the moment. [...]
Posted in Daily Comment, SPY, Stock Market on Jul 6th, 2010
The stock indexes are still oscillating in large, frequent swings. The chart above shows the absolute value of the close to close standard deviation daily moves based on the implied volatility of the options.The cyan reference line is placed at a 1.5 standard deviation. You can see that such a move appears every few days over the [...]
Posted in Daily Comment, Gold, SPY, Stock Market on May 20th, 2010
Above is a continuation of the S&P 500 etf daily chart that appeared on my last blog post, updated with the prices as of today. I discussed the possibility of a move back up to the moving averages after the big break. I didn’t expect the snap back rally would stop almost to the tick [...]
Posted in Daily Comment, SPY, Stock Market on May 9th, 2010
It seems that when sentiment gets one-sided and markets enter a phase when there is little or no reversion to the mean the usual result is an unusally large collapse in prices. That has certaintly been the case this last week. There have been many fingers pointed at the cause. The most notable finger pointed [...]
Posted in Daily Comment, Stock Market on Apr 26th, 2010
This stock market uptrend that began in February is the most persistent in some time. It seems that every attempt at a pullback, or even a slowdown is met by anxious buyers wanting to jump on the bandwagon