Friday, April 29, 2016

4/29/16 Manic Monday Redux



I like the set up for Monday.  I'll repeat the call I made last Friday, which is that we gap up hard on Monday (and close at or near the high).

Friday, April 22, 2016

4/22/16 Manic Monday



'Manic Monday' started hitting the airwaves in early '86.  Not the kind of stuff I normally listened to, but after countless iterations during my daily commute down US 23 to Milan (MI) the Bangles finally converted me.  It was only this week that I learned the song was penned by Prince.

We had another perfect pullback on Thursday and Friday, the kind that launches further rallies.  My take?  We gap up hard on Monday.

Tuesday, April 12, 2016

4/12/16 It's Not Easy Being Green!



DJIA +182 points.  SPX +22 points to 2064.  EWZ (Brazil) +3% as a congressional committee votes to recommend Rousseff's impeachment.  The iBovespa itself is up +2068 points (+4.12%).  RSX (Russia) +3.27%.  FXI (China 'H' Shares) +1.84%.  EEM (emerging markets) +1.77%.

No commentary needed!

Thursday, April 7, 2016

4/7/16 Easy



How hard is it to be a bull right now?

I first heard this Lionel Ritchie composition while visiting an older cousin in NYC around 1978.  I opened up his turntable one morning and slipped out the latest Commodores album.  For some reason I decided to play the last track on Side Two.  The piano intro hooked me immediately, and I replayed the same track at least a dozen times (back then you had to walk to the turntable and place the needle on a revolving vinyl LP).

Wednesday, March 30, 2016

3/30/16 Won't Back Down



Global markets refuse to back down.  All thirty Dow stocks are green, driving the DJIA to within ten points of 17,800 earlier in the day.  ASHR (China 'A' Shares) up another +3.8%.  RSX (Russia) +1.42% on a recovery in crude prices.  EEM (emerging markets ) +1.3%, doubling its week-to-date gain to +2.7%.

https://www.youtube.com/watch?v=nvlTJrNJ5lA

Thursday, March 24, 2016

3/24/16 Just when bears thought they were off the hook



The market reels them back in.

I'm sure that's how it feels, which is exactly how the market works.  Why do prices keep moving up?  It's referred to as the 'wall of worry.'  When investors stop worrying, the music will stop.  Until then, the indexes will continue to climb.  It's starting to feel less like a bear market rally, and more like 'the real thing.'


Thursday, March 17, 2016

3/17/16 The Blitzkrieg Raged

Sirens sounding off in the Bear Camp equivalent of London since early
morning.
  Let’s listen to Mick Jagger’s
commentary on the fallout. 



I rode a tank, held a general's rank
When the blitzkrieg raged
and the bodies stank

As for FOMO-stricken bystanders, we’re way past the Land of Low-Risk Entry
Points. 

I laid traps for troubadours
Who get killed before they reached Bombay
Pleased to meet you
Hope you guessed my name
But what's puzzling you
Is the nature of my game

Re Brazil’s President Dilma Rouseff (who
recently appointed her former mentor Lula da Silva to a Cabinet post in what
will likely be a failed attempt to avoid prosecution for his role in the
Petrobras scandal).

I stuck around St. Petersburg
When I saw it was a time for a change
Killed the czar and his ministers
Anastasia screamed in vain

The weather report.  Crude oil
+4.52% to 40.20!  DJIA +183 points to 17508.  SPX +16 to 2043 (was it just last week that
2000+ seemed a victory).  EEM (emerging
markets) +2.31%.  EWZ (Brazil) +9.26%.
ASHR (China ‘A’ Shares) +1.5%.
RSX (Russia) +2.65%.  VGK (Europe)
+1%.  VT (total world stock market)
+1.02%. 

The market leaves no stone unturned, and no hedge fund unharmed: CYB
(Chinese Yuan) +1%.