All traders must operate using assumptions. For example, if my analysis tells me that USD is going lower I might go long commodities. I’m making an assumption that the inverse correlation of lower USD equaling higher commodity prices will continue.
One assumption I’m willing to make in 2010 is that the 2009 March low is the [...]
(7:34 ET): The overnight range is still being established on the downside, but right now we have a range of 1085-1095. The market did not like the GE and BAC numbers and sold off about 5-6 points after their release. In terms of earnings, it looks like GOOG is the one shining star out of [...]
Last week we blasted higher mainly fueled by earnings from companies such as Goldman Sachs, Citigroup, JPMorgan and Bank of America. IBM, a non-financial, also had a good earnings report. None of the banks actually produce anything and they are all beneficiaries of relaxed accounting rules and government support. I wouldn’t exactly base my hopes [...]
Again, my apologies about my brevity this week. I’m in luck, because today was a snoozer. I was glad to see that the 715 FL held today and that we now have two consecutive closing bars about 715. Today’s action featured a tight range with the closing price just a touch above the open price. [...]