This week’s Sunday Night Coffee post is similar to last week’s post. I’m carrying a long bias into the market this week. I see a lot of long setups and I am not seeing many good short candidates. There is some strong resistance coming which will at the very least cause the market to pause. [...]
I started looking at various market indexes this morning and wondered how it was possible that the stock market could be 50-60% off of its lows (but still 30% from its highs) with fake government unemployment numbers approaching 10% and real unemployment above 10%. In terms of failed institutions, we have lost Bear Stearns, Lehman [...]
I titled this post “don’t worry about being a sucker” because I think many intelligent traders carry a long term bearish bias on the direction of the market (and the economy) and therefore hate the idea of being caught long when the market finally does come back to reality. There is this common thought of [...]
When $SPX was at 671, which was only about a week ago, there were generally two groups of traders. One group was calling this the “big wave” down and was calling for 600. The other group thought that there was still a chance for a retest back up to the 785-805 range. It seemed so [...]