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China’s Shanghai Index has been quietly rallying since it approached the 2000 major support level once again in mid-June, as shown on the Daily chart of SSEC below. A recent surge has pushed price above the 200 MA, while the RSI, MACD, and Stochastics indicators remained above the zero levels and continued to rise.
Near-term support sits around 2090…a hold above this level should see price continue to rally.
Well, after losing money year after year after year after year, Amazon has perhaps finally worn out its welcome. I am gleefully – cheerfully – both short the stock AND long the puts, so I’ve already decided Friday is going to be a cool day. What’s particularly nice is that the stock is doing poorly in this completely retarded, helium-filled environment, so if – God forbid – the general market started to soften, Amazon could easily lose half its value. Easily.
In the end gold will be assigned its value, but there is absolutely no reason that people should have been hurt in the interim by holding the speculations that revolve around gold, especially at the behest of cranks, charlatans and carnival barkers. (more…)
The perma-rally in the stock market is getting thinner and thinner, both in terms of breadth and daily range. Just take a look at the Dow Jones Composite; this wedge is getting ungodly tight. I realize anticipating a break has been like Waiting For Godot, but I continue to hunt down the best individual short positions, stock by stock – – – the domestic ETFs offer, in my opinion, almost no edge right now.
