Tag Archive for 'China'

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I seen the needle and the damage done

Published on August 31, 2010, 9:55 pm in Opinions and Trading. Closed Tags: , , , , .

The stock market is the biggest junkie in the world. The Fed says that we don’t need no stinkin’ quantitative easing, which should be good news, but the market quickly goes into DT’s and trembles all the way down. “But every junkie is like a setting sun.”

No QE means a strong economy, it means a recovery is in process! Oh, but it also means a strong dollar…and at the present the stock market does NOT like a strong dollar. So today, everytime the dollar shot up, the stock market, along with the oil market, moved down. And it seemed to happen about 20 times today!

Volume doubled yesterday’s totals and I think it should continue throughout the week, even though we are leading up to a holiday weekend. Too much news going on which will stir up the pot. Tonight I was waiting for China’s PMI, which has come out at 51.7, up from last months 51.2. And by morning we should have heard some GDP’s from European countries. We’ve also got ADP payroll report Wednesday morning, along with Construction Spending and oil inventories and more.

So much going on, Australia GDP up along with China PMI so futures are moving up strong also. Let’s hope it lasts until US markets open….and through the day tomorrow! :mrgreen:

Same old same old

Published on July 14, 2010, 10:42 pm in Opinions and Trading. Closed Tags: , , .

The indexes ended right about where they stopped yesterday. Although the indexes were pretty tame, individual stocks seemed to move up nicely…MON DRYS CSCO had very nice moves. Even INTC ended in the green but well off last nights spike after earnings report.

This evening after China announced GDP up 10.3%, the US dollar sunk, and S&P futures popped. But why? Although impressive numbers, it was lower than expected and lower than the last report. I expect our futures will retreat after the initial pop.

I came across this quote today:

Raymond Floyd, a golfer…. When asked about the pressures of playing a high-stakes game against other very skilled players, Mr. Floyd said, “It’s all about focus. The losers think about the money. The winners think about hitting perfect shots.” … Sounds a lot like trading.

And remember…Options expiration is designed to take as much money from as many people as money managers can. So be careful the next 2 days. ;)

Bad News Bears

Published on June 30, 2010, 10:19 pm in Charts and Trading. Closed Tags: , , , , , .

Bad news for sure! I think we have fallen enough from the highs to be in an official bear market now. :-(

The SPY, along with the S&P, confirmed a head ‘n shoulders pattern by breaking through the neckline.

Oh my!

Check out some of these other shenanigans: TSLA after being up $8 for the day, closes in the red; DNDN after closing about 4% in the red ($32.22) continued to dive after hours, trading at about $25; Oil is running down and BP is running up…What the $%@&*!

This evening, China PMI came in below expectations, so futures are in the toilet, at least for now. The bear is back! When a market opens higher and closes near or at the lows…THAT is classic bear market price action. :!:

Our one salvation is to see what the European reports come in like. I think I’ll go and by some firecrackers for the weekend. :twisted: