Last week, when North Korea stated it had refined plutonium capable of manufacturing bombs, I wondered about the ramifications. Last night the saber rattling continued. As suggested, this could be simple posturing on the part of North Korea but if not, and it is intended …
All posts in Stock Market Comments
Always use protection
Am becoming distrustful of this market. It is having a wicked time getting through S&P 900. And even if it did go through 900 there seems to be all sorts of resistance above that. I bought some double short ETF’s (SDS) this morning. Will hold …
Hang in there
Ugh, the averages finished on their lows. The S&P was off 3.3% to 845. The Dow, off 226, would of been worse had it not been for 3M. A lazy portfolio approach. Should you believe in the long term attractiveness of equity investing but are, …
Back to Reality
Futures indicate a down opening as traders cash-in from four days of higher prices. Investors are hyper-sensitive to over-bought or over-sold indicators and take action when either is violated. Few trust this market and most are quick to take any available profits. This strategy is …
Holy Cow!
After reviewing my notes from the last few days I should have been “all in” on Friday. Things were just getting better and better. Traders were going home long, buying at the close across the board, etc. We cut through S&P 850 like “buttah” and …
We broke through S&P 850 and now at 860. We have to hold that or improve on it or we are in danger of slipping back, back, back. The rest of the morning trade is important to convince bulls that sideline money can be committed.
Fade the open?
Pre-market futures indicate the Dow opening up 150 points. As noted last night, the futures took off at the close as reports spread that the government was considering a ‘bad bank”. This entity would presumably buy toxic bank assets, store them, then dispose of them …
Good day, then GE news
A good day. Not sure if this qualifies as a follow-thru day but close. On the 21st we had a big move up in the averages and traders like to see a follow thru, on big volume, within the following fourth trading day. Today didn’t …
It is called junk for a reason
As companies try to conserve capital or comply with government loan restrictions dividends have been slashed. Thousand of companies worry that earnings will be unable to cover the payouts. Tens of billions of corporate dividends have been lost, primarily to those who need them most, …
Not too bad
On a day when 68,000 reported jobs were lost the market behaved surprisingly well. S&P 850 remains a stubborn upside barrier. About 10:30a we crossed to 852 but declined to 827 about 2:30p before closing at 837, up .56%. Advancing issues led decliners but there …