A nice start to the week for the Bulls as the market put in solid days across the major indexes. volume pulled in, but that's compared to an options expiration session Friday, while breadth was Bullish.
We now look like we are off to get those 2007 high\s in the Dow and S&P 500. The NASDAQ is still lagging, but put in a decent session as well. The Russell hit yet another new high.
Wednesday, February 20, 2013
Thursday, February 14, 2013
Tuesday, February 12, 2013
Yesterday
Yesterday was the lowest volume day in months. One would think all the excitement of multi year highs would spark the interest of the folks on the sideline to get on board and spike up volume and it is not. I think time has changed and not many or looking to the stock market for gains.
I read a quote last week over the internet and here it is " The stock market is system that distributes the wealth of the many to the selected few", wow that just somes up what I have been telling people all these years, the average guy is just at a huge disadvantage.
I am still watching the Nasdaq which is the only indices not to be near its all time high (and we know why!!!!!) for signs of when a topping pattern is about to form. My experience tells me the market will grind up on this low volume till be get a spike that is caused by the last bagholder getting on board and there will be our top. When that happens no idea! we just have to watch for the signs
I read a quote last week over the internet and here it is " The stock market is system that distributes the wealth of the many to the selected few", wow that just somes up what I have been telling people all these years, the average guy is just at a huge disadvantage.
I am still watching the Nasdaq which is the only indices not to be near its all time high (and we know why!!!!!) for signs of when a topping pattern is about to form. My experience tells me the market will grind up on this low volume till be get a spike that is caused by the last bagholder getting on board and there will be our top. When that happens no idea! we just have to watch for the signs
Monday, February 11, 2013
Tuesday, February 5, 2013
Pullback
So we hot that 1510 and pullback yesterday but before the open the open we are setting up for a gap up. Nothing doing here as I think we are in consolidation mode and Gold and Silver might be setting up to break out so what for edges to play.
Friday, February 1, 2013
1510 -BINGO
This morning at 5am I posted 1510 as a point I think we would hit. BINGO market it 1510.50, not too shabby.
SuperBowl
Since Sunday is the Superbowl I bet 90% that the markets will have lighter volume on monday and in saying that my pick for the Game is the 49ers!
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