Market Look

We like having a great edge. But there are not great edges all the time. Right now, it is a lot of a guessing game. Yesterday, big sell off after two big days up after a bunch of ugly reversal days…into this morning’s “another gap to the upside!” So be patient. That is best advice….

SOURCE: https://www.cnbc.com/2018/02/26/roughly-half-of-americans-now-support-universal-basic-income.html

Another strong day. At this juncture, our writing becomes less is more until things change. NASDAQ/NDX almost at old highs…which amazes and at the same time, doesn’t.  We have seen wild swings for quite a while in the market. We would love to see a settling down as we move into meat of resistance. It…

Gee…another decent sized gap to the upside! Rates are also coming down after they teased the 3% level. We will leave it at that for this morning. Most gains have been coming pre-market. Not the easiest proposition.  

Intermediate-term corrections usually have major indices drop 10-15% and usually last a good 12 weeks. We just saw one that lasted 10 days. Blame it on algos. Blame it on button pushers. Blame it on the horrible Knicks season. We just think the “A LOW” we called on February 9th, has turned into one hell of…

What? You have never seen a 12% drop in days? Massive thousand point reversals? How about on Wednesday of this week? Up 300 at 230 pm, only to drop 470 points by the close.  How about gains cut in half yesterday with the NASDAQ giving it all back? We have a pattern. Big gaps to…