I hope you are all getting ready for the Christmas weekend! I am going to have some company coming soon so just a few quick notes.
The Long and Short of It
I could run through more charts and all that, but we have been looking at the same things for a while. Today was an important day I believe, and any confirmation to the upside will be very constructive going forward. That said, markets are at key inflection points that have proven difficult for some time.
The Pros:
-S&P 500 close over 1230 this week
-S&P 500 close over 1250 today
-Headline danger has abated from Europe
-Low volume implies lack of selling pressure going forward
The Cons:
-S&P 500 at key resistance level
-Low volume could cause run up to rapidly deflate should volume return
-Overall bullish sentiment surge last two days
As I planned, I took a full position in TZA (3X bear fund) when the S&P 500 hit 1250 this morning for the second time. I am flat on the position even as the S&P closed at 1254. This is a pure overbought short term play, nothing more. Overall I am constructive on this market and more upside confirmation going forward will mean it's time to be playing the long side.
Have a good night.
Showing posts with label market observations. Show all posts
Showing posts with label market observations. Show all posts
Thursday, December 22, 2011
Friday, July 8, 2011
Wrap the Week Up
For a 4 day week it sure seemed long!
Market Observations
Of course the day after I show a bunch of possible reversal candles the action today filled out a bunch of real clear ones! The abandoned baby setup is very rare and I saw it all over the place today after the big gap down. Normally this pattern is really powerful, but I would wonder how strong it is when it was so common after today? Not sure what to make of it all.
The jobs number was a total miss and at this stage of a robust recovery like we are supposed to be having, makes no sense. Main Street is not Wall Street though and market players want this stuff higher so bad it's amazing. Next week will be very interesting, especially if some volume can find it's way back to the markets.
Friday Night Entertainment
Some lighter things for a weekend setup.
Book Contest
I am going to run the Jennifer Hillier "Creep" giveaway contest on Sunday so that it will not get lost in a usual Friday night post. Stop in then for your chance for a free copy, there are 6 up for grabs.
Evil Robots Pretend They are here to Help
"Hello, I am a robot and I am here to help!" - famous last words
In what seems like a great way for a dental student to practice techniques without hurting someone, there is now a dental practice robot! Why risk a lawsuit by training when the robot feels no pain, cannot be reasoned with, and will not stop! Via Geekologie, here she is all nasty creepy:
We should destroy them.
Today in Financial History
From the great site, Little Bits of History, I learned that today in 1932 the DOW reached it's lowest point in the entire Great Depression. Nifty:
Bear Market
Thanks!
Visual Aides
Because seeing is easier than reading.
Seems about right:
see more Historic LOL
This could work:
see more Very Demotivational
Star Wars Huge News
After many twists and turns, there WILL be a novel about Darth Plagueis coming at years end! If you don't know, Plagueis was the master of Darth Sidious (The Emperor) and found a way to create life using the midichlorians. There has been much speculation that Plagueis created Anakin Skywalker using this sith lore. We shall see! Here is the proposed book cover:
I can't lie, I already pre-ordered and really want to read this book.
As if that was not enough, a novel about Darth Revan (from The Knights of the Old Republic Game) is also on the way!
Film Clips
Serving as a Netflix puppet for free is so sad.
Sometimes a great car is worth more than gold and jewels. In the third Indiana Jones film, "The Last Crusade" Nazi gold was not worth much to the Sheik, but the newest Rolls Royce? Well, we have a deal:
"And I even like the color!".
The film "The Expendables" was actually better than I figured it would be. The action film torch was passed to Jason Statham in the film. In this scene he finds out his long time love was hit by her new boyfriend and, well, it's pretty freaking cool:
HE SHOULD HAVE SAID "FRIEND-O!"
Rock Blogging
Pandora has nothing on either an Ipod or YouTube.
Reader C-T, being a metal head, wanted some Led Zeppelin. It's funny but much like the band that cannot be named, I don't think their stuff is that great. Still, "No Quarter" is by far my favorite tune:
Chilling.
Gawains knows music and I was glad he requested some old school Jim Croce. Let's try "Working at The Car Wash Blues":
Nice.
One hit wonder? When I heard the tune "Freechild" by the local band Must I figured these guys would be HUGE. Bought the album, checked the whole thing out and, well, not so much. Have not heard from them since. Still, I like this song:
Almost Big Wreck like and "That Song". Ugh.
I always have mixed feelings for the song "It's My Life" by Bon Jovi. I love the song itself, but hate it because they played it right before the Daytona 500 in a biopic about Dale Earnhardt before the race at Daytona where he died. I always associate the song with that. Anyways, here it is live:
Two songs left and what will happen?
Ok, this is a film/music blend but when The Vampire Louis goes on a revenge rampage (using the darkside of the force no doubt) you don't want to miss the action nor the stellar music that shapes it:
No embed available, you will have to click over. Sorry.
Bye bye Santiago.
Last call, get a drink and whatever else you may require.
A little Diane Lane, I mean Fire with "Nowhere Fast"?:
Love it.
Have a good night.
Market Observations
Of course the day after I show a bunch of possible reversal candles the action today filled out a bunch of real clear ones! The abandoned baby setup is very rare and I saw it all over the place today after the big gap down. Normally this pattern is really powerful, but I would wonder how strong it is when it was so common after today? Not sure what to make of it all.
The jobs number was a total miss and at this stage of a robust recovery like we are supposed to be having, makes no sense. Main Street is not Wall Street though and market players want this stuff higher so bad it's amazing. Next week will be very interesting, especially if some volume can find it's way back to the markets.
Friday Night Entertainment
Some lighter things for a weekend setup.
Book Contest
I am going to run the Jennifer Hillier "Creep" giveaway contest on Sunday so that it will not get lost in a usual Friday night post. Stop in then for your chance for a free copy, there are 6 up for grabs.
Evil Robots Pretend They are here to Help
"Hello, I am a robot and I am here to help!" - famous last words
In what seems like a great way for a dental student to practice techniques without hurting someone, there is now a dental practice robot! Why risk a lawsuit by training when the robot feels no pain, cannot be reasoned with, and will not stop! Via Geekologie, here she is all nasty creepy:
Today in Financial History
From the great site, Little Bits of History, I learned that today in 1932 the DOW reached it's lowest point in the entire Great Depression. Nifty:
Bear Market
Thanks!
Visual Aides
Because seeing is easier than reading.
Seems about right:
see more Historic LOL
This could work:
see more Very Demotivational
Star Wars Huge News
After many twists and turns, there WILL be a novel about Darth Plagueis coming at years end! If you don't know, Plagueis was the master of Darth Sidious (The Emperor) and found a way to create life using the midichlorians. There has been much speculation that Plagueis created Anakin Skywalker using this sith lore. We shall see! Here is the proposed book cover:
As if that was not enough, a novel about Darth Revan (from The Knights of the Old Republic Game) is also on the way!
Film Clips
Serving as a Netflix puppet for free is so sad.
Sometimes a great car is worth more than gold and jewels. In the third Indiana Jones film, "The Last Crusade" Nazi gold was not worth much to the Sheik, but the newest Rolls Royce? Well, we have a deal:
"And I even like the color!".
The film "The Expendables" was actually better than I figured it would be. The action film torch was passed to Jason Statham in the film. In this scene he finds out his long time love was hit by her new boyfriend and, well, it's pretty freaking cool:
HE SHOULD HAVE SAID "FRIEND-O!"
Rock Blogging
Pandora has nothing on either an Ipod or YouTube.
Reader C-T, being a metal head, wanted some Led Zeppelin. It's funny but much like the band that cannot be named, I don't think their stuff is that great. Still, "No Quarter" is by far my favorite tune:
Chilling.
Gawains knows music and I was glad he requested some old school Jim Croce. Let's try "Working at The Car Wash Blues":
Nice.
One hit wonder? When I heard the tune "Freechild" by the local band Must I figured these guys would be HUGE. Bought the album, checked the whole thing out and, well, not so much. Have not heard from them since. Still, I like this song:
Almost Big Wreck like and "That Song". Ugh.
I always have mixed feelings for the song "It's My Life" by Bon Jovi. I love the song itself, but hate it because they played it right before the Daytona 500 in a biopic about Dale Earnhardt before the race at Daytona where he died. I always associate the song with that. Anyways, here it is live:
Two songs left and what will happen?
Ok, this is a film/music blend but when The Vampire Louis goes on a revenge rampage (using the darkside of the force no doubt) you don't want to miss the action nor the stellar music that shapes it:
No embed available, you will have to click over. Sorry.
Bye bye Santiago.
Last call, get a drink and whatever else you may require.
A little Diane Lane, I mean Fire with "Nowhere Fast"?:
Love it.
Have a good night.
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