Mr. Potter: [to George Bailey] Look at you. You used to be so cocky. You were going to go out and conquer the world. You once called me “a warped, frustrated, old man!” What are you but a warped, frustrated young man? A miserable little clerk crawling in here on your hands and knees and begging for help. No securities, no stocks, no bonds. Nothin’ but a miserable little $500 equity in a life insurance policy.
Friday, September 5, 2008
Comments Off
As we said in a premarket note this morning to subscribers, several of our volatility-based indicators flashed buy signals, and after the morning washout, markets rallied back above yesterday’s lows. Today’s signal was good for at least 11 S&P futures points off the open, and we expect to see a bit of positive follow-through next week. The headline story of 2008 is still holding true: a rally in financial stocks is still a necessary but not a sufficient condition for…
Wednesday, August 20, 2008
Comments Off
In a note yesterday morning to members, we were looking for an oversold rally, and said rally still has yet to materialize in any big way. We still think the S&P will close the week closer to 1300 than to 1250, but that’s a conviction loosely held. The two biggest questions on our minds for the remainder of the week are: Will the financials stop dragging everybody down? $BIX, $BKX, XLF all had a good day today, but they…
Friday, July 25, 2008
Comments Off
Ok, stupid pun. But the August crude futures contract (CLU8) is down another $2 today (about 1.6%), and the market indexes don’t seem to care that much. While the NDX(QQQQ) and RUT(IWM) are up about 1%, SPX(SPY) and DJIA(DIA) are only modestly higher. A small rally this morning faded pretty quickly, and we wouldn’t be surprised to make a new low for the week into the close. Among the key sectors we follow, broker/dealers, banks, and biotech are bringing up…
Thursday, December 18, 2008
Comments Off