Not diving back and holding the majority of the gains in this market is a win, right?
I’m just asking…
Comments »Get used to the extremes…
In the past year the markets have consistantly moved to extreme readings on both the up and the downside. There have been more up and down 90% days this year than in the previous several. Technical indicators that have reliably worked in the past no longer work.
This HFT environment simply ignores all historic precident of what is overbought and oversold. That’s not to say they never work, I’m simply saying they only work once we get well past any historic norm.
Welcome to the “Follow the Leader Market”. Get used to it. It will go on until it no longer does.
Comments »February Redux
Back in February, after a quick 100 point SPX correction, everyone was expecting the end of the world…Especially after the hated “engineered and manipulated” rally that cost the FED over a trillion hard dollars. But markets rallied again to new highs even in the face of all the problems…
Now, today, we are in a market that spent the last 2 months on the defensive. During this correction there has been a plethora of bad news. Legitimately bad news and the markets suffered. It led many to forecast the “double dip” because the market was run by dips and was dipping.
This correction has driven most traders into a large cash position. This correction has removed much of the excess from the markets. Now we are bumping our head on major resistance and trying to get through. Guess what? We will and you are witnessing the summer rally…
Enjoy the extreme technical readings because it is now commonplace. The game of follow the leader continues…See you next at SPX 1120…
Comments »Back from the dead and about to get above the long downtrend…
VIX Chart-Art…as posted on CreateCoin premium and WITHOUT CARTOONS…
HEAD BANGERS MARKET: an excerpt from CreateCoin premium…
During the past few weeks, the market has been hammering out the lower portion of its new trading range. This new range will probably turn out to be about the middle of a much longer-term trading range that we settle into over the next months and perhaps years. But this near-term range is getting tighter and tighter–like a noose around the markets neck. Actually, it is not around the markets neck—it is around the near-term trader-types who are being whipsawed daily. When traversing about fifty S&P points both up and down every few days, it makes for nailing almost everyone with near-term losses at some point in the cycle. That is why accumulation and establishment of intermediate-term positions is our strategy.
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