Hooray, an up day! Here are some things to consider. My bullish SPX indicator lives to see another day, perhaps it’ll make a new X by the week’s end. FINALLY, the BXM/SPX spread is heading lower, and that is a sign of more aggressive risk taking which is good for equities. Due to the overbought…
Here are the tickers making noise on StockTwits APOL is in an uptrend and rising on increasing volume. This looks like a strong candidate for further upside, but it remains under resistance. The strong volume is indicative of accumulation, but since JASO is in a downtrend, bets on further upside are high risk. POT has…
It was a choppy roller coaster day, but there were some bright spots. International markets stayed afloat as commodities moved up. The financial sector finds itself in peril once again. Stay away from the big names who are too big to fail. Their bond holders might see cash, but the equity gets wiped out. HYG…
A few themes to keep an eye on during the week. The housing sector remains in an uptrend, but like so many indexes, a break below the weekly low is likely to bring sellers. The regional banking index hasn’t made a lower low during the last round of selling, perhaps this is the first sign…
A weekly look at the five least correlated ETF’s. Although oil made new lows, DBC has yet to do the same. If I see a X with volume, I may begin accumulating. EEM is pulling back within an uptrend, and once I see a X, I’ll get on board with a stop below last weeks…
Not much action in the equities market this week. According to my indicator, the SPX has managed to stay bullish, but it is very close to resuming a downtrend. The buywrite/index spread is rising (bearish), but it is in a resistance area, and any turn around would be bullish. The NAMO has turned positive,…
Here are the tickers making noise on StockTwits The last time I mentioned AMZN was here, and contrary to my forecast, it has risen over 15%. Now that it is approaching the upper Bollinger, I’m technically more bullish, but I suspect this stock is an investment trap. FCX remains in a vicious downtrend, but a…
Dear President Obama, I’m writing this letter to you because I hear Santa had his assets with Bernie Madhoff, and I don’t think he’s gonna be giving out much this year. With so many lining up for billions of dollars, I thought I’d try and get my share for sport. 1. Legalize itYou’ve done it,…
Today wasn’t quite enough to put the nail in the bulls’ coffin, but it isn’t getting any prettier. My SPX index is clinging to a bullish signal by a few points. The NAMO is signaling a downtrend, but we remain in bullish territory. Banks look ready to break down and test their lows. MLP’s continue…
Fixed income ETF’s continue to show strength in a weak market. I continue to add to my HYG position as the momo in this ETF has yet to wane. After closing my LQD for a hefty gain, I’ve made a smaller reentry with a tight stop. Emerging market debt continues to make solid gains, but…