The Ground Round 1300 Number

Thu Mar 10, 2011 11:44am EST 3

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Traders often discuss the psychological significance of round numbers on a given chart, although the reality is that they are usually not as dispositive of a bullish or bearish outcome as they may seem. After this morning’s gap lower, we are churning a bit right at the 1300 level on the S&P 500. While I am eyeing 1294 on the downside (lows from 02/24) as a major test of mettle for bulls and bears, the fact that the 50 day simple moving average on the S&P also also coincides with the big, round 1300 number is likely adding psychological weight to traders’ minds today, and the bulls are trying awfully hard to hold the line here, yet again.

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Higher Healthcare Costs if Commuting Grandma Gets Run Over By a Reindeer

Wed Mar 9, 2011 8:28pm EST Comments Off on Higher Healthcare Costs if Commuting Grandma Gets Run Over By a Reindeer

In between leaving shiny apples on Ben Bernanke’s desk, Steve Liesman, resident annoying dork at CNBC, is out with a piece about older women increasingly rejoining the workforce. While this may help out employers in terms of higher levels of productivity from experienced workers, it is sure to raise healthcare costs.

(Source: CNBC)

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[youtube:http://www.youtube.com/watch?v=iG5VPji-SpU 550 412]

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DANGER: China’s Stock Market Bears Up Against It

Wed Mar 9, 2011 5:12pm EST 8

Despite copper at 11-week lows amid China demand concerns, the daily chart of the Shanghai Composite is pretty clearly breaking out above multi-month resistance. Although the copper theme may indeed be valid, the amount of liquidity sloshing around throughout the capital markets could easily cause the well-to-do China bears (James Chanos, Hugh Hendry, etc.) to be squeezed into oblivion, as money rotates out of commodities and into the Chinese mainland markets.

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Video Market Recap 03/09/11

Wed Mar 9, 2011 4:37pm EST 6

(Direct Link)

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Copper ETN Selling Volume Supports Fresh 11-Week Lows

Wed Mar 9, 2011 4:35pm EST 1

Not only did copper close at 11-week lows amid rising inventories and China demand concerns, but JJC (iPath Dow Jones-UBS Copper Subindex Total Return ETN) saw its heaviest single-day volume IN OVER TWO YEARS, supporting the downside move. Indeed, this copper move was clearly not some random drip lower on a quiet market day.

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