Should be another no action day till 2:15 when we get the decision out. Who knows what will happen but a likely outcome is a ramp up after the announcement to the marginal highs then and retrace of it all. I am kind of looking at this move because that has been the trend for the last few meetings but we will see.
Market is still in a comatose state here.
Tuesday, December 15, 2009
BAC
Keep an eye on that important $15 level for BAC. Looks like it will definitely break soon. On that note all the banks are running to payback the TARP why? Really they are so full of greed for their upper management bonuses they aren't thinking about the long term.
Who am I anyways!!!!!!!, heard the BAC also now looking internally for a CEO, wow I would feel like crap knowing I was working at a company and I was the last one to get offered a job when all possible external candidates didn't want it, this is just funny.
I would say alot more about the banks like I use to but I don't want to get hate mails again. I bet when we do our wave 3 down I will get them saying it is me- :) funny too funny. I do this blog for fun and to keep myself sharp when I loosing mojo on my analysis.
Just be glad if you are healthy and can help yourself. I knew quite a few people who passed on this year, one just one month older than myself and many people who were in and out of the hospital, one as recent as last night, so be joyful if you are up and around and healthy.
MARKETJEDI
Who am I anyways!!!!!!!, heard the BAC also now looking internally for a CEO, wow I would feel like crap knowing I was working at a company and I was the last one to get offered a job when all possible external candidates didn't want it, this is just funny.
I would say alot more about the banks like I use to but I don't want to get hate mails again. I bet when we do our wave 3 down I will get them saying it is me- :) funny too funny. I do this blog for fun and to keep myself sharp when I loosing mojo on my analysis.
Just be glad if you are healthy and can help yourself. I knew quite a few people who passed on this year, one just one month older than myself and many people who were in and out of the hospital, one as recent as last night, so be joyful if you are up and around and healthy.
MARKETJEDI
Excitement
Yep another exciting day yesterday NOT! I guess we are just winding down for the rest of the year. I have never never seen this in my over 12 years of trading but there is always a first. Today tuesday should also be very boring with the FOMC meeting starting today and decision tomorrow most will just be out shopping :).
I guess after the announcement we will get a directional move and I am guess up but who knows, it is all a guess here till be get some momentum out of this chop.
I guess after the announcement we will get a directional move and I am guess up but who knows, it is all a guess here till be get some momentum out of this chop.
Monday, December 14, 2009
No updates today
Have some appointments to deal with today, so I will be away from the market action. But here is a small note.
The only thing that makes me interested in the equities market here is our time cycle calculations longer term which showing some clear cycle top, coupled with the obvious technical negative divergences. Balancing against all of that the trend from S&P 865 or even more clearly the March low of 665 is obviously up and the subsequently larger cycles have up peaking in 2010 of the rebound in the bear market. We must remember simple charting 01, consolidation near the highs ‘should’ lead to a move higher.
It should be very interested here as we could make a marginal new high, personally looking for an area 1122-1134 and then we collapse which has a very high probability of happening.
The only thing that makes me interested in the equities market here is our time cycle calculations longer term which showing some clear cycle top, coupled with the obvious technical negative divergences. Balancing against all of that the trend from S&P 865 or even more clearly the March low of 665 is obviously up and the subsequently larger cycles have up peaking in 2010 of the rebound in the bear market. We must remember simple charting 01, consolidation near the highs ‘should’ lead to a move higher.
It should be very interested here as we could make a marginal new high, personally looking for an area 1122-1134 and then we collapse which has a very high probability of happening.
Friday, December 11, 2009
Non-Eventful day again!
I have a feeling we will just do what we did last year this time get a low volume swing up and then die after the first few weeks of January. All I know nothing is happening here equity wise and the real movers seem to be the Gold, Silver and Oil.
Makes no sense putting up charts because they show nothing but consolidation and chop and I don't have to say it, its obvious.
Banks are looking interesting and why I say that is they were the big leaders off the March lows and they seem to have lost stream in the last two months so I conclude this is a very important development.
Oil been sweet if you caught it short I said it before a break of $76 points to lower prices and that was what happened. Also the seasonality factor of Crude Oil made it negative coming into the later weeks of the year. Check out natural gas that one is always good this time of year but I totally had my eyes elsewhere and didn't make an alert out of it.
Have a great weekend
Makes no sense putting up charts because they show nothing but consolidation and chop and I don't have to say it, its obvious.
Banks are looking interesting and why I say that is they were the big leaders off the March lows and they seem to have lost stream in the last two months so I conclude this is a very important development.
Oil been sweet if you caught it short I said it before a break of $76 points to lower prices and that was what happened. Also the seasonality factor of Crude Oil made it negative coming into the later weeks of the year. Check out natural gas that one is always good this time of year but I totally had my eyes elsewhere and didn't make an alert out of it.
Have a great weekend
Thursday, December 10, 2009
Keep eye on Banks
Keeping eyes on Banks with all this TARP payback. My benchmark is still BAC $15 level
Citibank
Citibank paying back their which is great but to do this they have to issue $200 Billion in equity. Seeing all these banks rushing to pay back the TARP let me think they are doing it at the expense of capital dilution. We will see what really happens. In the mean time 1123 on the upside is the number I have and 1087 on the downside.
Seasonality is in place here folks and don't forget that. Usually they try to push up into mid December then we drift down during the final days, obviously this could be distorted this year due to the anemic volume.
Seasonality is in place here folks and don't forget that. Usually they try to push up into mid December then we drift down during the final days, obviously this could be distorted this year due to the anemic volume.
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