Unreal price action today. First time I’ve actually watched the /ES action on a fed day. Just amazing. You can see my analysis in this post. I think we’ve got another drop in the cards here.
Here is a picture of one of the charts I actually look at during the course of a day. I woke up this morning to find out that the /ES has taken a nice hike upwards into the 765 zone, and I remained short through the entire hike.
Now, don’t get me wrong here. I’m still [...]
Rumor is building that the government is talking about the suspension of Mark to Market accounting. What a great idea, let’s all pretend that our worthless garbage is worth something! You’ve got to be kidding me… My commentary on this whole mess, and a fantastic Ziggy Cartoon!
Citigroup Inc. and the U.S. are close to an agreement in which the government will substantially increase its stake in the bank and will demand boardroom changes in return, according to people familiar with the matter.
The deal, expected to be announced Friday morning, is designed to ease jitters about the soundness [...]
If we don’t hold 907 on the SPX today this is going to get pretty ugly and I think I’m going to have to cut my
SSO(36.95 -0.14) and
QLD(58.38 -0.15) positions for a loss. The days in Jan are ticking away very quickly and decay is starting to work against me in a [...]
Here we go! Tomorrow morning the big boys come back to the market and we should be off to the races. If the wave count works out as expected, we should run up into the 950 range on the
SPX(1105.08 -1.05) this week then come back down. Since the Elliott Wave count gets really muddled, [...]