Posted in Daily Comment, Gold on Jan 25th, 2008
Stock indexes gapped higher, then spent the rest of the day grinding their way lower after nearly every rally failed to take hold. The result was an outside reversal day down on most of the indexes. The range yesterday was small and on lighter volume. Today the range expanded while volume contracted even further. After [...]
Posted in Baltic Dry Index, Gold, QQQQ on Jan 24th, 2008
The Baltic Dry Freight Shipping index was down again today. So far it has made an almost complete retracement of the upmove from mid-June of last year. The double top, momentum divergences, and break of parabolic stops were noted at the time. I must admit I was thinking this was a bubble most of the [...]
Stock indexes started the day looking like they were going to make a swing back to the upside. Sentiment has been getting more and more bearish, oscillators have been getting oversold, and some sort of bounce could be expected. There were some little tails being left on the daily bars as some of the indexes [...]
Posted in Baltic Dry Index, Currencies, Gold, QQQQ, SPY on Jan 2nd, 2008
The gold market made big news today with prices finally taking out the all time high set 28 years ago. For those unlucky enough to have bought at the peak in 1980 and held on all these years until breaking even, today was a good day. Of course the destruction of the dollar would mean [...]
Posted in Baltic Dry Index, Currencies, Gold, SPY on Dec 14th, 2007
The US Dollar continued higher today with a very wide range bar. The move really started accelerating in the middle of the night in the US session, and extended the gains throughout the day. You can see how prices started to trade past the trend lines a couple weeks ago while those lines were still [...]