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Archive for August, 2011

Posted by Martin August 31, 2011

Why I consider the market status in correction although the market rallies?

My colleague at work asked me that question when we discussed where I think this market will go. The answer was simple. SPY broke down from head and shoulder pattern on a very high volume and suffered some sort of a mini crash since then. It basically created a lower low and corrected to a Continue reading →

Posted by Martin August 31, 2011

Will the Greece debt drag the entire market back down?

Although there are many other aspects which will affect the next movement of the market such as weak economy, job data this coming Friday, ISM report (PMI index) etc, the Greece debt and the entire Eurozone debt crisis seems to be coming back. As probably every one knew, this issue hasn’t been solved at all, Continue reading →

Posted by Martin August 22, 2011

Market bouncing on its support, will it survive?

A few days SPY was bouncing on the $112.5-ish level. When looking at $VIX which is at the very elevated levels and considering today’s price action at the very end of the trading day (see the volume and price on any daily chart) I would assume the market was showing some exhaustion on selling. Therefore Continue reading →

Posted by Martin August 18, 2011

Wild ride: Where is the next stop?

The market as represented by SPY in my posts bounced from its resistance level at $120. Expected move although I was quite hoping for the end of this mess and that stronger economic data from the US companies would help the market break through and go a bit higher. Well, it didn’t happen and the Continue reading →

Posted by Martin August 15, 2011

Warren Buffett: wealthiest should pay higher taxes – road to socialism

Recently Warren Buffett told news media that he would agree on rich people paying higher taxes. I respect Warren Buffett but I am surprised that he would say that. Well, I am assuming the wealthy people pay taxes the same (or similar way) as every other American. For a regular Joe, it may sound like Continue reading →

Posted by Martin August 11, 2011

Idiocy drives the market these days

Well I wanted to write something what I think about this market and investors who are selling and asking questions later, but at this point I am so disgusted that I lost my appetite. When yesterday SPY dropped and erased all gains from Monday because of French banks, my first though was “who cares?”. When Continue reading →

Posted by Martin August 08, 2011

Is there someone who trusts credit agencies today?

Investors once again dumped stocks this morning after Standard & Poor’s rating agency cut the US rating. What the heck? Who trusts the agencies which were always wrong? Those agencies are or were the problem of the mess in 2008 – 2009. Just remember companies such as Lehman Brothers and AIG! These agencies gave AAA Continue reading →

Posted by Martin August 05, 2011

Investors in panic dumping bath water with a baby

Amazing days in the stock market. A relief rally diminished this morning. Are we at the bottom yet? People predicting a doomsday or recession are now stronger. Some even are saying that the US has never left recession. Are we really at the same situation or even worse that we were in 2008? I do Continue reading →

Posted by Martin August 04, 2011

Market in free fall – are we back in recession?

If you are thinking to be bullish these days (start buying stocks) I would postpone it a bit. We may see more on the downturn in this market. Tomorrow we will see some labor data published and they may stop this fall, but do not expect it much. I would say that data will be Continue reading →

Posted by Martin August 04, 2011

SPY sell-off

When I said “Everything can happen” yesterday, so today it happened. I expected a bounce, which haven’t arrived. Instead the market opened with a gap. It was a bit obvious last night when watching futures where we will be heading at open. So what am I doing? As I said yesterday, I have my stop Continue reading →