TECHNICAL VIEW . The Principle of Technical Analysis . I don’t want to jinx myself but I can’t keep quiet. Not after hearing the usual Wall Street mantra again this morning. That is, that no one can time the stock market so it’s always best to ride out its ups and downs. I mean this...
UPDATE ON THE STOCK MARKET . Written Wednesday, July 30th, 2008: 6:30 am EST. Another ‘ fl as hy - sp la sh y ’ rally yesterday So typical of bear markets, especially those with much further in time and points to go. Grizzly bear markets thrive on investors’ hope and adamant investor...
TECHNICAL VIEW . Summer R ally Ahead Or Not? Now is the time for all good men and women to watch the key stock market indices very closely! We have a possible bottom in place (if it is a bottom I have to believe it’s a temporary one). Yep, after basically falling out of bed for two months, from...
TECHNICAL VIEW . The Principle of History. Two historical technical observations today: 1. Capitulation: Where the Heck is It? CNBC keeps interviewing floor traders and reporting from the New York Stock Exchange that everyone there is anxiously looking for that big bout of capitulation, selling, to end...
PORTFOLIO STRATEGY This year’s mid-March to mid-May bear market rally was the first rally versus the new primary bear market downtrend. Usually the first rally is the best rally (just like the first loss is the best loss) because many investors believe the bull market still lives and thus it’s...
UPDATE ON THE STOCK MARKET . Witten Friday, June 20th, 2008: 6:30 a.m. Looked to me like yesterday’s stock market rally was a knee-jerk reaction to China announcing it was going to raise oil prices by 17%. Crude dove on the news while stocks jumped. But if one thinks it through, is China raising...
TECHNICAL VIEW . The Fan Principle . Cataloged under my Principle of Technical Analysis . Or more simply put, how the stock market communicates if not actually talks with us. Yep, the previously, very helpful technical indicator, the Fan Principle may be back in play. Remember how it helped us get into...
TECHNICAL VIEW . Banks Beginning a New Down Leg In Price? The next technical question is whether the banks are breaking down again. Into a new down leg. I see the KBW Bank Index dropped to a five year low yesterday. With many individual bank stocks in the same boat. Key Bank (KEY) just went to a new...
GOLD VIEW . It’s Time to Buy Back into GOLD ! I must say the gold chart looks ripe for a rally and the background economics are screaming rising inflation here in the US and all around the globe, so I would recommend buying back into gold. Gold pulled back from its big Round Number of $1000 in...
Technically, the market looks out of steam. Whether this latest two day fall back is the end of the bear market rally or just a normal “shake out” of weak holders on the way higher is open. Remember I thought the market had exhausted itself back two weeks ago when I saw Rising Wedges in a...