Market Look

The nascent topping of SOFTWARE turned into a route yesterday as the big money dumped the heck out of the group.  A bunch of names down $5-25 as the air came out. Take a listen to yesterday’s radio show for the explanation on why. The short version…in late stages of a bull move, the big…

Futures are up. What else is new? We are heading into massive easing by the ECB and more easing here. Do not worry about anything else. (sarcasm) But the most important part of the equation is that the big 4 are now above the 50 day. The SOX is above the 50 day. We promise…

Market strong yesterday on better than expected numbers. Market gets worse than expected numbers this morning. Still up a wee bit. Let’s see how this finishes but get the hint. On Wednesday, Bullard (Powell’s mouth piece) called for 1/2 point cut. We shall leave it at that as the big 4 back above the 50…

Another gap? Another gap to the upside? Another gap on another bit of news on China? Another gap on news of another meeting with China? Another gap on another meeting that may or may not happen with China? What’s the number? 30, 40, 50 meetings or announcements of meetings in the past 15 or so…

Words of wisdom on gapping up after gapping down after gapping up after….and just running in place. Tread lightly and tread carefully. Eventually and always, markets will come out of this one way or another. The past 5 weeks support still holding but internals remain crummy. And do not mention what happened to the Mets…