Cliff Diving

While there is plenty of speculation that this will be the week we experience a flash crash, I don’t think it’s likely.  And, if it should happen, it won’t be the market disaster that many expect — for the simple reason that such severe drops almost always retrace significantly in a relatively short amount of … continue reading →

As regular readers of this blog know, I’ve been banging the ‘market tops are alike’ drum for a while  (previous posts here and here.) I view 2007 as particularly similar to the current market.  In my opinion, we’ve completed wave 1 of (1) down and are in the process of tracing out corrective wave 2, … continue reading →

Not Terribly Slick

The White House’s brain trust thought this would help? US Plans to Release 30 Million Barrels of Oil From Strategic Reserves Come on, guys; everyone knows that markets are very much in sync these days.  This little stink bomb took crude down $4 and an already fragile market down another 20 points. While lower … continue reading →

Intra-day: June 23, 2011

Once again, the financial establishment must be wondering how to cancel the Bernanke Show.  Though, that’s not the real reason the market is down 21 points to 1265.  It’s the economy, of course.  With a little help from a bone-headed move to tap the strategic oil reserve.  And, this morning, we get a little taste … continue reading →

Intra-day: June 22, 2011

The Bernanke managed to not send the markets down this time.  He struck as neutral a tone as possible, giving both the bulls and the bears something to hang their hats on.  Bottom line: no impact.  The climb to 1320+ should continue as planned. The current retreat, as discussed yesterday, should be contained at 1287-ish, … continue reading →