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Archive for April, 2010
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April 30, 2010

Hitting The Wall

I don’t want to pop any champagne bottles prematurely but it’s increasingly starting look like the bulls have run into a wall here. This was the second time an attempt to breach that 78.6% fib mark I drew yesterday. Doesn’t mean not yet another attempt will be made on Monday but it’s looking decent right now and Soylent Green has been revived – for now.

Charts below for holders of the secret decoder ring:

What we now need to see is a relentless drop below 1180 and that in a hurry. If we hang around here then I am afraid we will remain stuck in this annoying sideways action for quite a bit longer. Strike your enemy while he’s [...]

 
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April 29, 2010

Here We Go Again

I had a late start today as I had a lousy night. First thing I usually do when I wake up is to grab my iPhone to look at Mr. Zero. I can’t say that I was happy to see the spike up this morning but I frankly wasn’t surprised either.

The signals we’ve seen on the Zero Lite for the past two days were almost textbook and strongly pointed towards a snap back. Remember when I told you to take profits on your short term puts on Tuesday? Well, I hope you did 😉

Alright, we are now finding ourselves at an inflection point for the bears. I had warned about letting this opportunity slide and it seems we are but a few handles from Bear [...]

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April 28, 2010

The End Of The Line

LEAP is an economic think-tank out of Europe. About a year ago they predicted that the Chinese would scale back their exposure to long term U.S. treasuries and shift into the short end of the yield curve. They were proven correct. A few months later LEAP also predicted that the second stage of this secular bear market cycle would not be triggered here in the U.S. but on their own turf, specifically naming Greece, Portugal, Spain, and Ireland. That was way before the MSM ever became aware of the PIGS – we are talking fall of 2009.

I am not a subscriber but am considering it as their monthly bulletins continue to cut through the noise and offer surprisingly accurate [...]

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April 28, 2010

Do Or Die!

An increase in volatility begets market reversals – which either turn into meaningful corrections or are simply used as buying opportunities. Time to throw out the riff-raff so to say…

Charts only available for evil lair members – freely available to everyone after the session:

As you can see Mr. VIX is stuck in a nice clean channel from which there seems no escape. But escape it must – lest the bears remain trapped in this ‘buy-the-dip purgatory’ they have found themselves boiling on slow flame for the past year.

Bottom line: If this thing snaps back the punishment for the bears will be of biblical proportions [...]

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