So are you bullish? I remain quite suspect of this becoming a valid H&S because of the downtrend in volume from the start of the head and the pseudo left shoulder. What you usually want to see in the rise from the head to the left shoulder is a chan…
Every time there is a reference to "Nobel Prize winning economist," I get irritated (nothing personal, Ty). There is no such thing as Nobel Prize in Economics. The proper reference is Nobel Memorial Prize in Economics.
Nobel Memorial Prize winners…
Sir Mohan:
Those Credit Market reports are important to provide a backdrop to the Equity Markets and are appreciated by the Stocktock members so thank-you from the land of Elvis...Interesting that Corporate credit spreads seem to be tightening up yet the CDS of 5 year Treasuries are increasing to 86 basis points near record highs...
thanks for helping to focus the fundamentals...i saw the bull trap article on Maudlin's:Outside the Box...what high coupon MBS do you think they own?
Commercial, Residential, Domestic, Foreign? i appreciate the time and information that Stocktocker's share...TNbear
Yea I sold my SRS SHLD SPG SKF GM POT AND GS puts a day early. I could of made a lot of extra dough. I picked up a good amount of UYG a little early today but only down about 5% so far. I can easily get out tommorow but I will like to hold out for a bounce. I might sell out half the position early tommorow just to get some cash out but my gut is telling me that as soon as I sell the bounce will happen. I will stay in touch and lets hope for a nice rally tommorow. I am just wondering what news can come out to spark this rally.
Im with you on a possible short term rally and I went in with UYG I feel like if we get this rally you me and some others are expected it should get a real nice boost in share price. You still believe in this rally??? I bought at the bottom when the SP hit 865 and I am watching closely but I hat to see that number keep getting retested. Its bouncing off that level but none of the bounces ended in any type of sustained rally. What do you think is going on???
Another thing that really scares me today is how well ASIA did today. No one is mentioning this anywhere but it doesnt make feel to confident being so short. Any thoughts on us following asia today with a strong 2nd half of the day?
Mohan,
I am always with you and I am still very short this market. But one thing to point out is the other day GS was trading down and me you and craig all noticed that. Only to notice that several hours later the market was approaching +800 territory. Hopefully for me and you this time GS will lead the market down like we expected last time.
They are fighting but at the same time they are fighting a climb up everest. The mountain they have to climb is getting higher and higher. I posted a couple dates on the blog somewhere which were the 31st of October and the 15th of November. The first date was the fiscal year end for mutual funds and the 15th was redemption day for 20% of the hedge funds out there. Until those two days come I dont see any major rallies holding. I agree we might get a small rally after election but nothing consistent. And then down the road you have the holiday shopping season coming up and I dont see how they can spin that to a positive as well. I dont know anyone that is financially healthier this year compared to last. All these negatives cant turn a positive spin on the market. I think it will take longer than expected for these bulls really to take over this market.
What is real nice in my eyes with this late rally is the price of SRS SKF and SMN calls have came down from their astronomical prices. We should have a descent reentry point tommorow morning.