Tag: rally

What now?

Here’s a thought. It doesn’t matter why we rallied like we did off the March lows, but what really matters is what happens now. According to Bespoke, this most recent rally (using an up trending 50SMA) was the seventh longest since the S&P 500 has been around. I had no idea. I do know that

Continue Reading

Rally ho!

Today’s price action, along with Friday’s, should give you an indication of just how beat down Wall Street is. On Friday we had the news of President-elect Obama’s choice for Sec. of Treasury, Timothy Geithner, and the markets rallied late in the day to close up about 5%. Over the weekend, Citgroup is saved by

Continue Reading

Manic Rally!

The $941.50 level I pointed out in the broader market (78.6% retracement) was steam rolled last week. Now, after today’s manic rally, we are back above that level. Keep in mind that the candles in the $SPX chart below are monthly candles. That should give you some idea as to what to expect as there

Continue Reading

Short Squeeze 101

When you’re not trading you find fun things to do and I did today. I started looking at short ratios for certain stocks that have decent volume and within a certain technical pattern. I found one that I wanted to point out a few items of note as these numbers are pretty amazing. Chances are

Continue Reading