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…
Tickers making noise on StockTwits HK looks like it is heading lower, maybe back down to 9. If the market heads down, ICE looks like a low risk short, but the recent strength is more bullish than bearish to me. PALM could double and still be a terrible investment. Risks are very high. Massive volume…
A rundown of various market themes for tomorrow’s trade. Despite the hefty haircut in the QQQQ’s, my NASDAQ indicator is still bullish. Buy the dip is still in play until I see some O’s, but I’m taking very small positions. The BXM/SPX ratio is bearish as long as it is printing X’s. Nevertheless, it is…
Here are the tickers making noise on StockTwits I haven’t liked AAPL for months, and only price will convince me this isn’t a terrible company. Damn cognitive dissonance… my psychology continues to work against me because I think oil is cheap, but there is no evidence of a trend change. FMCN appears to be in…
On final chart post for this weekend. My NASDAQ indicator keeps printing X’s signaling lower volatility and more bullish stocks. The intervention I was looking for here is underway. Don’t fight the BOJ until you see another X printed. Gold and precious metals like silver continue to put in nice uptrend work. This remains the…