Sell ‘Em
Heavy dose of selling to start 2014. Portfolio dressing is over. No reason for funds to buy top names to show they had em’ when they’re hot. Right now it’s a matter of seeing Read More …
Category: The Breakdown
Up And Gone
Low volume, upward drift. The market is a beach ball being passed around skeleton crews running Wall Street desks. Most traders’ minds are on the holiday – or next year. We’ll expect to see some Read More …
To Taper, Or Not
Wednesday will be Fed Chairman Ben Bernanke’s final meeting before ending his stint, where it is widely believed he won’t make any announcement to taper the amount of dollars being pumped into the system. We Read More …
Red Rain
Continued heavy sell volume adds enough weight to the major indexes that we’re putting the odds favorably in the Bears camp. This is an immediate bias, not to be confused with a longer-term bullish perspective Read More …
Hoping Is For Losers
Two days of heavy selling, or distribution, and we’re calling this immediate environment favorable to bears. We’ll hold our longer-term Buyer’s Caution bias unless we see more heavy selling combined with a collapse in leadership, which Read More …
Major Markers
It’s been 13 years since the Nasdaq traded at 4,000. Not coincidentally, lots of bubble talk is brewing. The market can remain irrational longer than you can remain solvent, once said John Maynard Keynes. Read More …
Raise Up
This market has had a multitude of reasons to sell, but hasn’t. Don’t fight the tape. It’s hard to call a top now that the S&P is trending comfortably above its congestion zone where symmetry Read More …
Victories And Bitch Slaps
New highs for the major indexes serve just as much as victories to Bulls as they do bitch slaps to bears. Odds are a good number of aggressive funds and traders are sitting on short Read More …
Honking Validation
Thursday’s rush to the exits by institutions backs up our short-term call for a pullback. Watch and wait. Punctuation marks like these at the end of bull legs can last anywhere from a day to Read More …
Holding On
Our bias remains at Buyer’s Caution, as it has all year. However, we’ve noted several reasons to expect the market is primed for another short-term pullback/correction. Increased volume with modest price advancement and an outright Read More …
Grinding Bear Looms
Increased volume with little price change is giving us the subtle message that Bears are stepping it up. This Bull is tired. Key sell offs from top ranked growth stocks also warn. One would need Read More …
Symmetry Call
The rally has now hit a key resistance zone of symmetry, where its length now matches what it did in September. Odds are better than even we’ll see some kind of pullback, or at least Read More …