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There’s an old saw that you should “dance like no one is watching” (and I strongly suspect most Slopers have the same fondness of going out on the town and dancing as I do: that is, none).
I was reminded of this phrase since we are approaching the Fed announcement this Wednesday. I confess to being apprehensive about the event. It will, in all likelihood, define the behavior of the market for the rest of 2013 and probably bleed into the first part of 2014 as well. I think it’s a fairly big deal. (more…)
I don’t remember when I sent my first email, but it was probably sometime late in 1981 (yes, I’ve been online that long). I was a CompuServe user (I even remember my ID – 74730,1740) and, equipped with my Lynx 300 baud modem, I was (obviously) a very early adopter of online communications. (more…)
There aren’t many short positions that can be relied upon to edge lower each day, but below is one of them. This is my favorite kind of position to manage: just tightening up the stop price day to day.
SPX closed on the daily lower bollinger band for a third straight day on Friday. If we should see the same today then I’d be looking at a closing range in the 1769-72 area. However looking at the overnight action, the bounce that I was looking for late last week may well now be in progress, and resistance is therefore at the middle bollinger band in the 1795 SPX area. SPX daily chart: (more…)
Well, it’s obviously a bit disappointing: last night, during dinner, I glanced at my iPhone, and out of the clear blue sky, the ES plunged from +3 to -10. It lingered at a loss of about 8 points for a long time. When I clicked on my bedside iPad this morning, wondering how low the ES was – well – a twenty-point reversal (for no particular reason at all) had taken place. Looking at the daily ES, it actually makes a lot of sense, given the retracement to the pattern’s neckline. All the same, it’s a tough way to start off what is bound to be an emotionally-trying week.