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Weekly Wrap

October 12, 2013 // 0 Comments

Great news this morning! The Grand Canyon and Statue of Liberty will re-open.  Hey – only bone-headed politicos could shut down two of the greatest money-spinners in the USA for two weeks – and make the government a complete irritation amongst tourists into the bargain. And I read over 80% of citizens view the federal government as dysfunctional.  What a [...]

Has peace broken out in Washington?

October 11, 2013 // 0 Comments

It had to happen – my tramlines pointed to a rally off the 6,320 level in the FTSE starting late Tuesday.  The market embarked on a rally which was capped by the news that Obama and Republicans had cobbled together a band-aid solution to the impasse.  The news followed the markets (once again)! So, with a huge rally overnight, has the market done enough to call [...]

Is it kiss and makeup time?

October 10, 2013 // 0 Comments

This is getting more and more like Kramer vs Kramer – the plot bears an uncanny resemblance to what is going on with White House vs Congress (The 1979 film tells the story of a married couple’s divorce and its impact on everyone involved, including the couple’s young son.). And with the expensive lawyers involved, the battle over custody of the [...]

Where’s the complacency gone?

October 8, 2013 // 0 Comments

A few days ago, I showed the VIX chart and suggested that we are at the start of a big wave 3 up and the next test was to be the 20 level.  Yesterday, it almost made 20. The VIX is a measure of the fear (or lack) in the market as it measures option premiums for S&P puts and calls.  When premiums narrow for puts (betting on a price fall), complacency has settled on [...]

Weekly Wrap

October 5, 2013 // 0 Comments

With the US government shutdown and the looming debt ceiling drama, the markets are still tracing out recognizable patterns!  In fact, I had a post yesterday calling for a bounce in the Dow, which arrived right on cue. Do you spend much time reading what the pundits have to say? The question traders need to ask themselves is this: If I spend a lot of time taking in the [...]
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