Disclaimer You are fully responsible for your own trades and only yourself to blame if you get hurt! Do not even dare come and begrudge the author of this blog for your own mistakes. This site includes market analysis and opinions. All ideas, opinions, and/or forecasts, expressed or implied herein, are for informational purposes only and should not be construed as a recommendation to invest, trade, and/or speculate in the financial markets. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise. Unfortunately, we live in a society where a fraction of the people simply refuse to take blame for their own actions so the author will not be giving any personalized advice on any related to buying/selling securities on the financial markets.
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I hope everyone had a great holiday and has started the year on the right foot. The first couple sessions have been incredible so let’s hope that the easy money period last a little while longer.
I have been pondering the future of this blog for the last couple weeks. Posting here hasn’t been as fun as it used to be and it is quite a time-consuming, thankless and incentive-less job so once the fun is gone, there is no point in sharing information anymore.
I might pick up posting daily again or the site might completely disappear as a stock market blog. We shall see.
Good luck to all!
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What a borefest! I haven’t posted as much lately simply because there is no fun in trying to comment on a market going sideways on all time-frame. We are still stuck in the range we have been in for the past 5 weeks but things may begin to stir up (or NOT!) with Nasdaq showing some leadership and closing above the trading range today. The Russell 2000 has also been outperforming over the last week or two and we are entering the phase of the month where seasonal factors kick in so we could well be breaking out within the next few days… or we could go on to continue the gap and nap pattern we have been trading in for the rest of our lives. Merry Christmas to all if the market decides to do nothing for the next few days.
Economic Data:
Tuesday: Final GDP q/q (2.8%), Existing Home Sales (6.29M), HPI m/m (0.2%), Richmond Manufacturing Index (4)
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The SPY had a minor new closing high yesterday but as shown yesterday, it looks like we are in the same range we have been trading in the last 4 weeks. Basically, you either chose to sit on your hands or shorted select stocks/indexes today to play the range the last couple days. Tomorrow is FOMC day, expect the usual treatment which normal trading into the open, then very light volume range trading leading into 2PM ET and of course the massive spike in volatility afterward. Remain patient, I doubt we will trade sideways 4 more weeks… lol
Economic Data:
Wednesday: Building Permits (0.58M), Core CPI m/m (0.2%), CPI m/m (0.4%), Current Account (-106B), Housing Starts (0.59M), FOMC Statement, Fed Funds rate
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Not much to say and I’m tired to repeat myself. Hope you are not playing indexes, there is better things to trade out there… The market is consolidating through time instead of price action. This could be a topping process or a stepping stone toward significantly higher levels. Notice that we haven’t a
Continue reading Stock Market Analysis: 12/12/2009
The market continues to put everyone to sleep. How many times have we seen this gap and nap trading day in the past few weeks? Not much to say except that it’s a stock picker’s game as of late and if you are playing indexes in the current environment, you must be out
Continue reading Stock Market Analysis: 12/10/2009
The market opened significantly lower this morning on the dollar strength and we had a non-trending day professional gap (how boring) as we held below the trading range we have been in since the beginning of the month. Let’s see if we get a test of the crucial SPY 108 level which is
Continue reading Stock Market Analysis for 12/08/2009
The third failed breakout in three consecutive days occurred on Friday as a much better than expected job data was not enough to get the market to close above that stubborn SPY 112 area. Failed breakouts tend to lead to a steep countermove and we saw a steep selloff all the way down
Continue reading Weekend Stock Market Analysis: 12/06/2009
The market attempted to break out to new highs and failed early on just like yesterday. We then traded sideways for most of the day until 2:50PM ET at which point broad indexes broke their range to the downside. Most of the damage was done in the financial sector and there was definitely
Continue reading Stock Market Analysis: 12/03/2009
More of the endless chop today. Market attempted to break out of the range but a minor breach quickly failed around the ES 1115 level and back solidly into the trading range we have been in the last three weeks. It seems that we are correcting through time instead of price and the
Continue reading Stock Market Analysis for 12/02/2009
Today marks the beginning of the last month of the decade! Seasonally, December is a bullish month on average but there is also plenty of occasions when it finished negative. Just like that, we are back at the highs after notable market strength overnight. We have been trading range bound so the smart thing to
Continue reading Stock Market Review: 12/01/2009
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