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Las Vegas may still be hurting, but the Wall Street Casino is as lively as ever. US ETF and ETP assets have just topped the $1 trillion mark – impressive because c’mon, let’s face it – ETFs are a pure speculative vehicle, nothing more and nothing less. And because ETFs are created due to investor […]
The current headline on Google Finance is a Bloomberg story crowing about the S&P’s 86% (!) rally off the March 2009 lows. The S&P has traded up 17 out of 22 trading days in December (Source: Elliott Wave International), and has rallied pretty much non-stop for 4 months now. A rally which, fittingly, kicked off […]
Big hat tip to our friend Brian Hunt, who referenced this classic trading passage and lesson from Edwin Lefevre’s Reminiscences of a Stock Operator. It’s about a humble, old, and somewhat eccentric trader who appeared to be wiser than those around him because, rather than trading in and out of positions, he was content to […]
I think our pal Brian Hunt hits the nail on the head in his DailyWealth piece– he talks about the only thing you need to consider right now when placing a trade: Knowing whether it’s “risk on” or “risk off” is the single biggest factor in any trade you make right now… If you’re long […]
Happy Groundhog Day! And don’t try telling me otherwise – at least as far as the markets are concerned. Everyday the S&P 500 creeps higher – as does gold, silver, and what the hell, even the Euro! Is Punxsutawney Phil nearby? Let’s start with the S&P, which has bounced several times off the 1040 mark, […]
The ghost town that is the S&P 500 continues its inexorable march to the sky, driven by about 9 traders flipping shares back and forth. Now we’ve hit an interesting point, with the S&P kissing its upper resistance line once again, and most market observants quite giddy with bullishness: Source: StockCharts.com Will 1130 hold? Nobody […]
The S&P has been rallying towards the upper end of its recent 1040-1130 trading range over the past week and a half. Since the S&P entered this range, it’s been profitable to “swing trade” the extremes – by going short near the upper edge of the range, and either covering, or going long, near the […]
Our pal Brian Hunt has been doing an excellent job of finding favorite economic indicators that are surprisingly breaking out, rather than down. Last week, Brian noted that Dr. Copper was surging, despite the overall gloomy economic outlook: While you can barely watch a minute of financial television without hearing about horrid unemployment numbers, gloomy […]
Today, we got that bounce in stocks that we thought might be coming – from yesterday’s stock market wrap: I’m not sure if I’d initiate a new S&P short position at this juncture – as the contrarian in me thinks we’ve got to see some sort of short-term pop soon. Markets rarely cooperate with broader […]
Not much new on Wall Street today – another lazy day in late summer. Stocks continue to churn on anemic volume just above key support levels: The S&P continues to mill about just above its key support at 1040. (Source: StockCharts.com) Meanwhile, it seems like most investors are well aware of the fact that September […]
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