Forget the fact that Feinstein, Pelosi and many other Dems on committees knew about enhanced techniques on terrorists. Forget the argument on whether enhanced techniques were right or wrong. Forget the utter hypocrisy on capturing terrorists and then using enhanced interrogation techniques equals bad but blowing the terrorists up with hellfire missiles along with the…
We came into yesterday thinking a pullback was at hand. At 10 am, we were not so sure. But the reversal and this morning’s open simply tells us things are getting a little tougher in and around these levels. To be brief, pullbacks are a normal part of the process. They don’t have to lead…
Yesterday’s action showed markets are now in pullback mode. Recent highs could not be taken out with sellers now overtaking buyers. The worst areas are being crushed while the best areas are now pulling back. Shorter-term support levels have been taken out but again, just a pullback right now. Pullbacks are a normal course of…
Beats the heck out of me what happens Wednesday but when : The nasdaq is down 70 early and finishes up 25… The dow is down 222 early and finishes only down 51… The lagging Russell, for a change…is up almost 2%… It usually means market already putting a line in the sand after a…
Except for two teases to the upside, we have been bearish on GOLD almost since the highs more than 3 years ago. We are still not bullish. But we have now taken a neutral stance as we think there is a chance a firm low has been put in. A break of recent lows would…
More of the same. Commodity areas crushed. In fact, energy continues its crash. Yes…that is a slow moving crash. BUT…after the CENTRAL BANK-INDUCED climax low, we are finally starting to see some decent amounts of distribution. As we have stated, markets were stretched, extended and overbought combined with a massive dose of bullishness. This usually…
For 5 years, we have been telling you the economy was just ok. We have been telling you we will go back and forth from decent quarter to a blah quarter. Well, after $13 trillion of printed money, zero percent interest rates and $7 trillion of new debt…combined with the latest moves by Japan, Europe and China…maybe…
Did you see the Dax yesterday…down 120 because the ECB made no noise about massive printing of money. After all, they have been teasing. But soon after, it is announced that in January, the ECB will create massive amounts. This is on top of Japan, China and all the 0% interest rates around the globe….
Like a broken record, major indices remain stretched, extended and overbought while bullishness has become rampant. In fact, our sentiment numbers are almost surpassing the numbers we have seen when the market was topping into October. But everyone continues to ease…everyone is printing money…central bankers do not shut up about the potential for more QE…
We are watching the big financials here. BAC,C,GS,JPM,MS,WFC are all acting constructively. If they can break out of the range-bound action they have been in, be rest assured there will be more upside in the market. As we have told you forever, if big finacials and the semis are acting well, there is no chance…
