The SPXHILO fell relative to the VIX, indicating fewer stocks are trading at record highs as volatility rises. As the number of stocks making highs wanes, the odds of profitable investment decrease. I’m still selling leveraged ETF’s like FAS/FAZ BGU/BGZ TNA/TZA, but I’ve been taking my long positions off the table.
The best minds are not in government. If any were, business would hire them away. – Ronald Regan (40th U.S. president, 1911-2004)
The NYSE Summation Index looks poised for a correction. The new red O indicates the 2 month uptrend has lost momentum. Investors should get defensive and exercise conservative risk management.
Potash was a market leader before the credit crisis, and though it is trading above various moving averages and the upper Bollinger, this is not a great investment vehicle. The trend is up so buyers have the advantage, but I doubt this stock will make all time highs soon.
I’m too drunk to post anything pithy and wise, but I’ll point out that the S&P 500 Bullidex rose .28% to close at 225. The S&P is technically in an uptrend, so my bias remains on the buy side. Trade smart… I’m gonna chug this water and watch some porn…
Anytime there is change there is opportunity. So it is paramount that an organization get energized rather than paralyzed. – Jack Welch (GE, CEO, Fortune)
Some light entertainment for this fine afternoon. [vodpod id=Groupvideo.2488662&w=425&h=350&fv=%26rel%3D0%26border%3D0%26] more about “Pole Dancing Champions 2009“, posted with vodpod
This screen identifies ETFs trading at 252-day highs. EDC and TYH are 3x Leverage ETFs from Direxion, covering the Emerging Market and Technology Sector. EDC and TYH are not investment vehicles, and are best used as daytrading devices. Nevertheless, the new highs indicate all buyers are in a winning position, providing a positive psychological outlook…
Whoso be a man, must be a non-conformist… Nothing is at last sacred but the integrity of your own mind. -Ralph Waldo Emerson (American author, poet and philosopher, Self-Reliance, 1803-1882)
The S&P 500 Bullidex rose 6.26% to close at 227.4 as volatility fell relative to the number of rising stocks. This is a positive sign for investors as the investment environment grows increasingly favorable in terms of stability and odds. The bull market that began on March 10th continues to skin bears alive, and there…