Markets weakening every minute. Oil up, gold bouncing off lows. Suspect this is a good time to add to GLD, the gold ETF. Am trying to go along with the banks stock wave. Last night bought FAS, the 3X supercharged financial ETF. Would love to …
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Futures are strong but off much higher levels. It will be most interesting to see just how long the market stays strong. After yesterday’s teeter totter there is no telling. Oil is up and gold is down. Gold’s decline over the last three days is …
An amazingly difficult day. Fifty, eighty, hundred point swings as everyone tried to find their way. The last half hour was brutal. No one wanted to go home long. This is no market for investors. If you are investing, get out. Wait until things sort …
Can’t Find my Way
The only thing that works today is a market straddle or strangle. Gotta be long and short then lift one leg as it goes in the opposite direction. Small change. The Bernanke testimony before an all but vacant committee room is not having the impact …
A disappointing morning as there appears to be little follow through of yesterday’s rally. Oil is up as is gold, both modestly. Reading the newspapers recently is a depressing event. There is very little good news apart from Tiger Woods returning to the tour. Dividends …
Asia is up on the back of rousing US rally and of the Japanese government’s proposal to buy shares with public funds. An unprecedented idea that could still come unwound this audacious plan could have legs. One wonders, however, what will happen when the government …
That is the danger of being too bullish or too bearish. Snap-back rallies smack you in the face. Buy-n-holders will use days like this to substantiate that strategy. It is the “you gotta be in to win” attitude. That’s what they said in November ’07 …
Aching to go up
They want to take ’em up but don’t yet seem to have the muscle. Dow up 90 but internals weak. Zero new highs and over three-hundred new lows. Volume pretty good at over 700 million at 1pm. Gold getting whacked hard. At $970/oz and looks …
As expected, consumer confidence came it at historic low and squelched the rally. The tom-toms are beating a massive rally. Not really sure what to make of pundits looking for a big move up. I will pare a few of my inverse ETF’s for the …
Early trade is positive. Traders, like you and me, are sick of the steady decline, day after day. But tonight’s Obama speech weighs on the markets. Banks rally in the face of potential nationalization. JP Morgan slashes dividend to a nickle. Consumer Confidence numbers will …