The Morning After

What a disaster for Boehner & Co. last night.   Did we really need another warring faction?  What are we — Greece!? Wait, don’t answer that!  The markets will not take kindly to this additional complication. Today’s theme song: Maureen McGovern’s song from the 1972 Poseidon Adventure.   Don’t laugh, it won an Academy Award! What sold … continue reading →

Charts I’m Watching: Dec 11, 2012

Today marks the 6th session since we shorted at 1423 [see: Without a Net] in anticipation of a strong downdraft. The first wave down since then was a respectable 25 points, hitting just below our initial 1400 target.  Wave 2 has since rebounded a little over a Fibonacci 88.6%, but is definitely taking its time.  … continue reading →

Charts I’m Watching: Dec 10, 2012

The market continues to walk a tightrope between another leg up and a very significant tumble.  We’ve been here many times before in the past year, and it isn’t getting any more fun.  To recap… We remain short from 1423 on Dec 3 [see: Without a Net].  This was target A established in our Oct … continue reading →