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On cue, right after we proclaimed the S&P 500 was unable to stage a sustained rally – the S&P 500 did the unexpected, and staged a somewhat sustained rally. So here we sit at 1091 – some 41 points above our initial short entry (doh!). It’s a bit of a shame – this is the […]
After trading hours Monday, we shorted the S&P 500 again via the futures market – because, well, we couldn’t bare to be on the sidelines anymore. We had HOPED for a rally that would carry the S&P towards the 1120 or 1130 mark. It did not materialize. The reversal was sharp and swift. It was […]
After gapping WAY down at the opening bell, the S&P (and other indices) rallied throughout the day, slowly but steadily climbing back to even on the day. All-in-all a very respectable showing, as the first major test of support at 1050 for the S&P held. The S&P did set a new intraday low for 2010 […]
As I write this about 90 minutes before the closing well, markets opened lower and continue to languish, with declines slightly outpacing advances. This is only notable because markets are already severely oversold – at least by common metrics. So, while astute traders may have anticipated a bounce today, that has not yet materialized. I have […]
Stocks continue to defy gravity, as the S&P finished today at a 17 month high. Amazingly, the S&P has completely retraced it’s most recent drop from January. The markets swung from quite oversold, to quite overbought, within the span of a month. Once again, we learned (the hard way) not to bet against the S&P […]
A few weeks ago I glowingly declared that the bear was back in charge, and that the new trend was down. Channeling Lee Corso – not so fast, my friend! It’s been a strong retracement of the Jan-Feb decline: Markets have rebounded – from oversold in Feb, to overbought in March! (Source: Yahoo finance) BUT […]
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