Posted in Gold, QQQQ, SPY, Stock Market on Jan 3rd, 2011
Stock indexes start off the first day of the New Year with a a continuation of the up-leg that started on the first of December. Much is made of the price action on the first day of a new year. I was at the gym today watching CNBC, thankfully with the sound off, and noticed [...]
Posted in Daily Comment, QQQQ, SPY, Stock Market, Weekly Comment on Oct 17th, 2009
Many financial markets continue on what seems to be a never-ending path upward as the dollar continues on its path downward. The chart above shows the daily action of the etfs representing the S&P 500 in the upper sub-graph, and the Nasdaq 100 in the lower. Trends in both are clearly up. Every attempt at [...]
Posted in Daily Comment, QQQQ on Nov 5th, 2008
Stock indexes fell sharply today, the day after the election. It seemed likely that there would be some sort of relief rally as the election was concluding. I guess it would have been too logical to expect the rally after the results of the election were known. Instead the markets rallied on the day of [...]
Posted in Daily Comment, QQQQ on Oct 29th, 2008
Stock indexes held firm for most of the session prior to the fed cut. It was widely expected that the cut would be a half point, and the indexes seemed pleased that the fed met expectations. It looked like the indexes were going to tack on another two or three hundred points to the spectacular [...]
Posted in Daily Comment, QQQQ on Oct 16th, 2008
Stock indexes rallied sharply in the final part of the trading day. It’s becoming normal for a triple digit down day to be followed by a triple digit day in the opposite direction, with most of the move happening very quickly. Today the indexes tried to sell off many times, but was able to hold [...]