Archive for February, 2008
Monday, February 25th, 2008
It looks like we have reached an all time short interest level in the NYSE as of February 15. 14.4 Billion shares is the number of shares short on the NYSE, or 3.8% of the total shares outstanding. For those of you contrarian investors out there, this news should be ...
Posted in Equities, General Commentary | No Comments »
Sunday, February 24th, 2008
Part 3 in the SPY Symmetrical Triangle series. It looked like the market was going to close down fairly substantially on Friday, until the news of a possible bond insurer bailout resulted in a rip roaring rally into the close. As a result, SPY is STILL trading inside of the ...
Posted in General Commentary, Indices | 1 Comment »
Thursday, February 21st, 2008
This is part of my previous post, commenting on the SPY symmetrical triangle setup. As one commenter duly noted, there hasn't been any really significant volume to confirm the direction going one way or another.
As you can see in the chart above (as of yesterdays close) SPY temporarily breached the ...
Posted in General Commentary, Indices | 1 Comment »
Wednesday, February 20th, 2008
From TheOilDrum.com
The price for West Texas Intermediate (WTI) oil closed above $100 for the first time on February 19, 2008. "Rising oil prices have been giving a clear signal of pending shortages for over five years now," according to TheOilDrum.com. By ignoring this signal, world leaders are steering the world ...
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Wednesday, February 20th, 2008
Excerpt from “Waves of 2008″ written by our Chief Research Strategist Anthony Tsung.
Feed Grains--Corn:
• Ample supplies together with a continued lack of competition and firm demand overall, have boosted U.S. corn export prospects to a record 62.0 million. The record was reached in 1979/80 with 61.8 million.
• In China, strong ...
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Tuesday, February 19th, 2008
Who would have thought, more writedowns? Who knew!
This shouldn't come as a surprise to those familiar with the credit situation of late. Looks like the Big Boys on the Street may be ready for Round 2 this quarter, writing down north of $200 Billion in losses within the commercial mortgage-backed ...
Posted in General Commentary, Indices | 1 Comment »
Monday, February 18th, 2008
Excerpt from "Waves of 2008" written by our Chief Research Strategist Anthony Tsung.
The X factor, is the rising cost of inflation and the over aggressive stance by the communist party to impose regulations on their own labor market and to increase tariffs on trade in their efforts to curb potentially ...
Posted in Equities | 2 Comments »
Monday, February 18th, 2008
It has come to my attention that the SPY has formed a textbook symmetrical triangle lately. This type of continuation pattern, shown below, is classic before a break in either direction.
With SPY trading below both its moving averages, the amount of bearish sentiment among investors, and tons of upside resistance, ...
Posted in Indices | 1 Comment »
Monday, February 11th, 2008
I recently came across an outstanding article entitled, "Black Swans, Real Estate and Financial Stocks," written by Geoff Considine over at Seeking Alpha. The article nicely compliments my previous post regarding the 3+ sigma events and statistical anomalies that exisit in the market -- think the beginning of 2008.
The article ...
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Monday, February 11th, 2008
As promised, this is Part 2 of my previous entry. In terms of post-capitulation market dynamics, there are a number of events that happen following an exhaustive sell-off. First off, buyers "at the bottom," slowly and cautiously begin to buy stock. Unsure that a bottom has been formed, many investors ...
Posted in Indices | 1 Comment »
