Archive for May, 2011

  • Some Observations of the Recent Market Action
    Posted by on May 31st, 2011 at 12:25 pm, Comments: 0

    The $ES_F has rallied over 40 points since last Tuesday night’s low of 1302.50, however it appears that the smart money buyers of last week’s weakness have decided to take profits into this morning’s “new Greek bailout” euphoria. Buying weakness and selling strength remains the name of the game in this market.

  • The Greek Sovereign Debt Train Wreck Becomes Dire
    Posted by on May 29th, 2011 at 8:17 pm, Comments: 0

    The Greek sovereign debt drama became much more intriguing tonight. The Financial Times is reporting that ECB/EU/IMF (the ‘troika’) officials are attempting to obtain cross-party [...]

  • 1294, 1307, 1312, 1330, 1338, 1343……
    Posted by on May 28th, 2011 at 9:39 am, Comments: 0

    1294, 1307, 1312, 1330, 1338, 1343….What do all of these numbers have in common you ask? These are supposedly the key levels on the S&P [...]

  • A Market That Continues to Climb the Wall of Worry and a Pseudo Vacation
    Posted by on May 26th, 2011 at 2:43 pm, Comments: 0

    The equity markets have held up reasonably well given the nearly overwhelming panoply of negative news that is currently hanging over them. This week there [...]

  • Lunchtime Market Thoughts- Bad News & Decent Price Action
    Posted by on May 26th, 2011 at 12:30 pm, Comments: 0

    The equity markets ($IWM, $SPY) continue to hold above key support levels despite a bevy of negative economic data and continued Eurozone sovereign debt fears. I am expecting quiet trading for the remainder of the week as we head into the Memorial Day weekend.

  • My Favorite Charts of the Day Plus an Update on Silver
    Posted by on May 25th, 2011 at 4:00 pm, Comments: 0

    Last Monday I proposed that silver was near a bottom and that it was time to begin accumulating under $34/ounce. The following day silver dipped [...]

  • The Evolution of a Professional Trader – Stop Loss or No Stop Loss?
    Posted by on May 24th, 2011 at 2:16 pm, Comments: 0

    Peter Brandt published an epic blog post this morning in which he self-analyzes his recent trading. “I am presently experiencing a quite unpleasant 12-month period [...]

  • Gold Hits a New Record High Priced in Euros
    Posted by on May 23rd, 2011 at 3:55 pm, Comments: 0

    Gold has pulled back over $100/ounce since topping out on April 30th above $1577/ounce. Gold typically takes the stairs up and the elevator down so [...]

  • Is it Time to Panic and Get Bearish on Equities?
    Posted by on May 23rd, 2011 at 12:52 pm, Comments: 0

    Friday’s weak close proved to be a prescient sign of further weakness to come on Monday morning. Is it time to get bearish on equities ($IWM, $SPY)?

  • The European Voter Complicates the Eurozone Bailout Calculus
    Posted by on May 22nd, 2011 at 8:10 pm, Comments: 0

    Sunday’s regional elections in Germany and Spain have confirmed European leader’s worst fears- the European voter is tired of austerity, bailouts, and being forced to [...]