UPDATE ON THE STOCK MARKET . Witten Friday, June 20th, 2008: 6:30 a.m. Looked to me like yesterday’s stock market rally was a knee-jerk reaction to China announcing it was going to raise oil prices by 17%. Crude dove on the news while stocks jumped. But if one thinks it through, is China raising...
More Bulls Surfacing on the Dow Transports . Written Wednesday am, April 2nd, 2008. Regular readers may remember last Wednesday I wrote I was bullishly impressed with the recent performance of the Dow Transports , that by breaking three downtrend lines drawn off last July’s top, this index had turned...
TECHNICAL VIEW . Three technical points today: 1. Yesterday was a prime example of how computerized, black box oriented, or just say hedge fund dominated today’s stock market has become. The market was programmed to go up, right in the face of more and more bad news coming out. A glaring example of this...
TECHNICAL VIEW . The Dow Industrials have recouped some 44% of its losses from its October 9 th high to its November 26 th low. The S&P 500 has rallied back 41% and the Nasdaq Composite 40%. According to my 50% Rule , if something bounces back over half, you know like a teeter-totter moving more...