Sunday Post 8/26/12

{+++} The market is still toying with a definitive breakout and close of the April highs.  We cleared 1422 Tuesday, but couldn’t manage a close above. This week, we should see even lower volumes, because Labor Day weekend is coming and this is always a low volume week. That doesn’t mean the tape cant give…

Continue reading →

Short Thoughts

{+++} The bulls and bears are fighting ts level of resistance to the death. As you can see in the chart above, the S&P made a weak attempt to break out yesterday, but failed.  It did break through the April 2 high, but reversed hard and closed below the line. Today we basically closed flat…

Continue reading →

Sunday Post 8/19/12

  {+++} The S&P stopped right at that trend line on Friday on absolutely NO volume. Could just be a battery charge before we blast off to higher prices, or a sign that we have put in a short term top. As you can see below, we also stopped about three or four points from…

Continue reading →

What Facebook Really Cost You

I read an article a while back  where a guy said he was cashing in his kids college accounts to buy Facebook $FB. In his mind this was his shot at greatness, his time to shine. Can’t really blame him, it’s maddening to watch others get rich by dumb luck. This was the next $GOOG…

Continue reading →

COT-Commitment of Traders

This is a follow up the the commitment of traders piece I posted a couple of months ago on the “smart money/dumb money” view of the euro. At that time, the dumb money was short and the commercial traders “smart money” was getting long. The commercial traders always win. By the way, while everyone was…

Continue reading →

Eight Days, Something’s Gotta’ Give

{+++} This market action is mind numbing.  There are some great individual set ups here and there but the tape is listless, anemic, and quite boring. We’ve been running sideways in a tight range here, and its obvious to me that something will happen soon. We either crack like a Faberge egg to the downside…

Continue reading →

Got Coal? When “Less Bad” Starts To Work

The sector that “The Street” hates, and the politicians detest, all traded like cancer curing biotech stocks on Thursday. There comes a point when there is no one left to sell, the shorts way overstay their welcome and “less bad” earnings get treated like a beat. Thursday’s action: Arch Coal $ACI was up 8 percent,…

Continue reading →

Open Interest Gives a “Tell” For Treasuries

This is a very interesting piece from the folks at  McClellan Open interest is the total number of contracts that are “open” for a futures contract.  Every futures contract is simultaneously both a short position and a long position, with two separate parties each holding the obligation to either accept delivery of the goods, or…

Continue reading →