Blog description

My photo
A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.

Friday, April 4, 2008


Unemployment rate jumps to 5.1%

U.S. payrolls report raises concerns of widespread job losses and ultimately a more significant economic slowdown — this in the same week Fed chief Ben Bernanke allows that a recession may have taken form.

Greenspan said it best about the tech bubble and anyone with half a brain should not be BUYING into a quagmire of poor economic data. Patience is the key here folks as this GIG will implode.

Thursday, April 3, 2008

Bull trap set and sprung.....

JOBLESS CLAIMS 407,000............

Bull hopes expalained by this video....

Retest of Lows coming to a chart near you soon........

Wednesday, April 2, 2008

Much ado bout nothing

So the market got a little ahead of itself and decided to short squeeze on April Fool's day. There could still be some upside move as evidenced by the SPY, but charts like AAPL and the VIX hitting the 200 day EMA point out the longer term trend is still heading south. It will be interesting to see if AAPL rolls over at $150 to head back to $118 to complete he head and shoulders pattern.

Tuesday, April 1, 2008

Dow transports best performing sector?

Dow 2 year
S&P 500 1 year
S&P 1 monthDow transports 6 months
Ok am I missing something? Transports up on the highest fuel costs we've seen in decades? Perhaps not for long.....

Monday, March 31, 2008

Quarter End and Fed speak

Last day of the quarter today and a pretty boring one. I find it intersting that Paulson chooses today to release the "New Plan" that will take 2-8 years to implement regulatory controls over the banking and mortgage inustries. I guess my $600 Rebate is to justify the billions of taxpayer dollars being thrown out and pissed on to bail these guys out of poor decision making.

Anyway, most of the charts today had an "inside day" meaning that today's action was inside the high and low of the previous day high and low. This can probably be attributed to the quarter end, but some relevance can be made for tomorrow's action based on the positioning of the candle being on the lower levels. Range bound in a declining market with low volume: be nimble.