The Slope of Nope

As a chartist, I’m often struck by how similarly the stock market acts at important tops and bottoms.  By “important tops” I’m speaking of those which precede large corrections or even crashes.  So, with apologies to Tim Knight’s excellent Slope of Hope… In 2000, SPX retraced a Fibonacci 88.6% of its initial drop before falling … continue reading →

Manipulation is Nothing New

Yesterday, former SEC attorney Teresa Goody joined those calling for an investigation into the market action on December 24. It was hardly the biggest move we’ve seen over the past year. But, it resulted in new lows that ruffled a few feathers. Click the image to watch the interview, or just keep reading. Goody: …when … continue reading →

Where’s Warren?

The biggest surprise from today’s meltdown?  No Warren. As in Buffett.  It seems like every time the market pulls a scary reversal as it did today, Warren makes an appearance on CNBC or Bloomberg or gives a hasty interview with the WSJ, Forbes, etc. He helps bring calm to the markets. Investors like him and … continue reading →