Sideways

{+++} “I would like to lock all of my enemies in a room with a coughing baby”-Someone That’s this market right now, unlike the movie which made us all “experts” on the beauty and elegance of a delightful Pinot Noir. This flat line sideways action has us all confused. I chat with specialists, sell side […]

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The Wrap 2/27/12

{+++} The grind continues. The S&P tiptoed up to, and slightly through, the 1370 level and backed off. It was basically a nothing day with a smattering of moves on an individual stock basis. The planet earth is watching this level on both the DOW and S&P, so if you think you are alone you […]

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The Wrap 2/23/12

{+++} Well, we seem to be getting closer to some market resolution as the S&P is coiling. One way or another it is getting closer to a break out or a break down. All the index look identical. IBM was a classic breakout today and KEG added to some of yesterday’s gains. Some names that […]

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The Wrap 2/22/12

{+++} More chop today. This is either the bulls consolidating for the big move up, or just general buying exhaustion ( light volume) that is giving us this sideways action. We’ll see where we go the next two days. We are seeing some mini sector rotations in the market. For example, the fertilizer stocks are […]

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The Wrap 2/21/12

{+++} The market had a whacky first hour today, then coiled until around 2PM when the sellers showed up. The market then caught some bids in the last 2o minutes of trading. We tagged 13,000 today and the S&P almost tagged 1370.  The euro opened strong then faded and the dollar didn’t do much. None […]

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Greece: It’s Never Over

The planet earth remains cautiously optimistic that European officials will resolve their differences for their second bailout. At stake is a 130 billion euro ($172 billion) bailout — the second rescue in two years — and a related write-down for private bondholders that aims to knock €100 billion off the country’s debt load. This should […]

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Morning Post

{+++}   Being on the wrong side of the market is painful. I can only compare the feeling to being in desperate  need of a root canal, but having no access to pain medication or a dentist. So you sit with the pain. On Thursday the market gave me every reason to get short term […]

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Martket Upate

{+++} The market has reversed higher and I wanted to update you on positions. In case you are still holding SPXU, SPX TVIX and SOXS. The euro broke 1.30 in the early morning which rallied the dollar a bit, but when the euro reversed higher the dollar fell and set off a good rally in […]

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