Posted in Currencies, SPY, Stock Market on Mar 17th, 2008
There was much news regarding the fire-sale of Bear Sterns that promised a very weak opening today. I won’t bother repeating the detail of the news as it has been reported in every media all day long. The more important aspect of the news to me is how the market interpreted the news. The stock […]
Posted in Currencies, Stock Market, Daily Comment on Mar 12th, 2008
Yes it’s true, the Morocaan Dirham is at the highest level ever against the U.S. Dollar, as is the Croatian Kuna, Estonian Kroon, Tonga Pa’anga. The Vientam Dong is at a new recent high, although not an all-time high. I’m sure it will be soon. The the size and scale of the U.S. economy, even […]
Posted in SPY, Gold, Stock Market, Daily Comment on Feb 1st, 2008
The stock rally continues, at least in the major indexes. I have been skeptical of this rally as trends are still down and short term momentum is overbought. In the S&P this is shaping up to be a very rare “V” shaped bottom, at least it appears to be on the chart. That spike pivot […]
Posted in QQQQ, Stock Market on Nov 16th, 2007
Stock indexes staged a late day rally to lift most indexes slightly to the positive side. Gold had been higher, but closed about unchanged, and oil was higher, continuing its change of direction every day. There isn’t really much to add to the commentary of yesterday. I will include the Nasdaq/QQQQ chart along with the […]
Posted in Baltic Dry Index, SPY, QQQQ, Stock Market on Nov 1st, 2007
NEXT UPDATE MONDAY 11/05 - TAKING LONG WEEKEND
The stock market was lower today, as was gold and oil. Volume increased today on the sell-off. The chart on the left shows the broadening formation on the Nasdaq 100/QQQQ in the upper graph. Yesterday on the Fed rate cut prices were able to penetrate the upper resistance […]
