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, SPY, Stock Market on Nov 15th, 2010
It’s been a while since my last post. It seems to be getting more and more difficult to find time to update. My intention is to post as events occur, and we certainly have had events since the last post. The mid-term elections went about as expected. Actually quite a bit better than expected in [...]
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 [...]