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Archive for December, 2012
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December 30, 2012

Got Vaseline?

While many of you have been frolicking at some alpine ski paradise or testing the resolve of your battered digestive system the Mole has been busily scheming in his evil lair, carefully planning his next frontal assault leading to market domination. Think Pinky and the Brain but without the cheese and the cages. As I have been hinting in recent weeks – devious new creations are in the works and I’m getting close to unleashing them into beta. More on that in early January – but suffice to say we’re about to kick things to the next level. You have been warned!

So what are we to think of all the brinksmanship and political circus coming out of Washington? [...]

 
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December 26, 2012

Holiday Setups

Don’t even get me started on all the drama on the equities side – I had an inkling there would be a shake out but all this uncertainty seems to have completely derailed this year’s Santa Rally. Turns out the market doesn’t much favor the prospect of a potential economic melt-down – who would have thought? Certainly not our esteemed elected representatives in Congress. There is little edge in picking sides in equities over the next few days – the name of the game is volatility and it’s almost impossible to predict which way the whip will be cracking. Best to stay out and focus on other markets.

As you know I’m taking a few [...]

 
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December 24, 2012

Monday Morning Briefing

Welcome to our morning briefing. Here we are reviewing short term setups ahead of the NYSE opening bell. If you are a scalper or swing trader then these setups may be of interest to you. As usual keep in mind that these are short term setups although they could be used as early entries for more longer term positions.

As you probably are aware the NYSE is going to close early today at 1:00pm EST. Thus I don’t expect a whole lot of movement in the hours ahead. But you can’t be sure given the political brinksmanship in Washington which could give rise to a healthy dose of volatility at a moment’s notice. So if you must trade today then please do yourself [...]

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December 23, 2012

Figure Pointing

This will be my last long term update for this year and as such let’s revisit some of our trusted point & figure charts. I must say they all have been rather lovely companions all through 2012 and I expect to keep this tradition alive in the coming year as well. Despite recent gyrations the medium to long term picture continues to be positive on the equities side:

For several weeks now our bullish price objective has been 1510 and I think as long as that diagonal support line on the P&F holds up the prospect of new highs remains in play. A drop through 1420 may trigger a shake out and would probably reverse the bullish price objective. This leaves us with [...]

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Cognitive Bias Carousel
  • Herding BiasHerding Bias
    Something very interesting happened during our trip back to Valencia last Sunday. After checking our luggage and passing through the airport’s security procedures we had a … more
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