Playing For A Bounce
Some of the best trades come when everyone gets very panicky. The crowd can often act very stupidly in the markets. You can picture price fluctuations around an equilibrium level as a rubber band being stretched – if it gets…
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S&P Closes Below 1200 And Other Technical Details
The key level of support of 1200 on the S&P 500, the intraday low from July 15th, was breached today with the S&P closing at 1193 (S&P 6 Month Chart). This is important because a lot of traders and investors watch these…
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Get Ready For The Break Below 1200
If you’ve been following the stock market this week, you might have come to the conclusion I’ve come to after many years of study: The stock market is a pain in the ass. Put another way, the day to day…
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Summer Vacation On Wall Street
Ultimately, it was another inconsequential day….. Under more normal circumstances, I’d be spending this week on the golf course, but I’m still in catch up mode. – Charles Kirk, “Another Inconsequential Day”, The Kirk Report, Wedneday August 27, 4:44pm EST…
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Why I Got Long Oil Today
I think oil is starting to become oversold in the way the financials were a month ago: At $113 a barrel oil is down about 23% from its highs last month. The 200 DMA (Day Moving Average) is right around…
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There’s Something Happening Here: The Evolution Of The Bear
There’s something happening here. What it is ain’t exactly clear….. There’s battle lines being drawn. – Buffalo Springfield, “For What It’s Worth” Sooner or later in a bear market, even the glory stocks start to come apart. As a bull…
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Trading Places: Energy And Financials
Despite the action in the financials today, the surge in financials and selloff in energy of late is something to watch. Check out BeSpoke’s post, with the beautiful charts, today: “Trading Places: Energy And Financials”. A couple weeks ago I…
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Financials Less Interesting After Big Pop
I’ve been getting a lot of e-mails and compliments since my post from Tuesday afternoon “Today Is The Bottom In The Financials” proved to be right on. So I thought it would be useful to update my outlook. Since then,…
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Today Is The Bottom In The Financials
One thing that’s essential is enormous volume. With gigantic volume you can read the markets true opinion – we will need outsize volumes to be able to say ‘Okay, the bottoming or topping has occurred’. It won’t be the end…
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Why I Bought Financials Today
If you’re going to be a trader, and you don’t have to be and trading is not the core of what I do, at some point you have to pull the trigger. We always want that perfect, can’t lose, super…