Good morning. Happy Thursday. The Fed has spoken. They said economic conditions are improving but the job market along with a negative wealth effect from housing are large hurdles stopping a full-fledged recovery. They also said rates will be kept low for a long time.
Before the Open (Nov 4)
Good morning. Happy Wednesday. Happy Fed Day. Today the Fed the Discount Rate (the rate banks pay to borrow from the Fed) and target the Overnight Rate (the rate banks pay to borrow from each other). It would be a surprise if the rates were moved, so again all attention will be on their statement.
Before the Open (Nov 3)
Good morning. Happy Tuesday. Except for China, the Asian/Pacific markets closed down across the board. Europe is currently suffering sizeable losses – many indexes are down more than 2%. Futures here in the States indicate a moderate gap down for the cash market that will put the market near Friday’s close.
Before the Open (Nov 2)
Good morning. Happy Monday. Hope you had a nice weekend. As usual I don’t have much to add to my weekend report. The short term trend is down; the market is in the process of breaking down. We’ve had some price movement that has made no sense the last 7 months, so not much would […]
Calling a Top (at least in the near term)
I turned bearish last weekend for the first time in a long time and got many emails from traders wanting to know what I was looking at. Here’s a video covering some of my indicators.
Before the Open (Oct 30)
Good morning. Happy Friday. This week has played out nicely. I turned bearish over the weekend…my 6 bearish set ups calmly moved to their targets. Now I’m in wait and see mode. Besides the easy money being gone, the next week is unclear. The S&P dropped right to my target (mid 1040’s) and is now […]
GE as a Predictor of the Overall Market Movement
In addition to all the warnings I posted over the weekend (small caps underperforming, Russell underperforming, key levels on index charts, weak market after good earnings), here’s another one I’ve watched from a distance over the years and was reminded of it this past weekend. The movement of GE vs. the overall market works much […]
Before the Open (Oct 29)
Good morning. Happy Thursday. The Asian/Pacific markets got hit hard today – several lost more than 2%. Europe is currently mixed with a lean to the upside. Futures here in the States suggests a small gap up open for the cash market. This comes off the market having fallen 6 of the last 7 days […]
Stock Trades
For the first time in a long time our bias switched to the downside this past weekend. We posted two new short set ups, but since it was earnings season and we didn’t want to attempt picking a needle out of a haystack, we mostly played the inverse ETFs. Here are the bearish plays we […]
Before the Open (Oct 28)
Good morning. Happy Wednesday. The Asian/Pacific markets closed mostly down – several indexes lost at least 1%. Europe is currently down across the board – Austria is getting killed; most other indexes are down ~ 1.5%.