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Dow makes new low, but not Nasdaq

October 2, 2013 // 0 Comments

  Dow makes a new low today and I caught a nice short on the early rally.  But the Nasdaq is not declining in synch – and this is what keeps me from being full-on bearish the Dow (yet).  I still believe the nonsense around the US shut-down is just an excuse for bulls to take profits, and eventually, the Dow will work higher. The US housing stats out today was [...]

Treasuries look toppy here

October 1, 2013 // 0 Comments

  Today is shaping up to be a pivotal day in many markets.  As you know, I have been trading the T-Bonds (30-yr) avidly in recent weeks, having taken nice profits on the way down and then on the way up.  But it appears we may have a top in today. Here are my terrific tramlines I am working.  We have had a decent rally since 7 September on the back of the [...]

Has the euro topped this morning?

October 1, 2013 // 0 Comments

  The US government shut-down has triggered a knee-jerk flight out of the dollar and the euro has rallied to within pips of the 136 handle – and has traced out a very rare chart pattern – an expanding triangle: Usually, triangles are contracting, where the tug of war between the bulls and the bears settle down to some sort of compromise with volatility [...]

Dow about to rally

September 30, 2013 // 0 Comments

  With just about everyone assuming the US government will be shutting down – and the Dow having declined 600 pips off the high in anticipation – I believe the stage is set for a big rally in a ‘sell the rumour, but the news’ effect (see Weekly Wrap). But the Nasdaq remains well bid and shows no signs of topping (yet).  Even if the dreaded [...]

Weekly Wrap

September 28, 2013 // 0 Comments

  That was a pretty ugly week for the Dow, but not for the Nasdaq, which maintains its bullish bias.  This is a major divergence that I will be watching carefully. And the generally so-so economic US reports did not help sentiment.  Yesterday, the U of Michigan Consumer Sentiment showed a ‘surprise’ drop from the high reached in July when the Dow [...]
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