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In the interest of alliteration, I bought a buttload of bonds earlier today, and I intend to hang on to them. Bonds have had an amazing year, and I have long held that interest rates are heading much lower. Added to which, if bonds can have a good day even on a day when equities are relatively strong, think what they will do if the fabled days arrive that stocks actually poo all over themselves.
Although not everyone who needs to be in prison goes to prison, the lock-em-up United States has provided a marvelous business for Corrections Corporation of America. I’ve been watching this one, and it’s finally breaking above its base today. Looks like a good buy.
Today is the first day of what is in effect a two week holiday trading period into Friday 2nd January 2015. For most of this period volumes will be low and the lean will be bullish. The historical stats for today for instance are that it has closed up about 76% of the time. That said SPX needs some retracement or consolidation to establish a rising sustainable support from the last low. I was expecting that on Friday but we may see it today or tomorrow instead.
A decent rising channel has been established from the 1820 low now and the 60min buy signal at the low has made the target at the 70 level on the RSI 14. I am expecting a new all time high on SPX as the last part of the stats from the post 5 DMA runs, but that needn’t be done today of course. SPX 60min chart: (more…)
Here we are going into what should be by all accounts one of the most festive times of the year. If one were to listen to most of the commentary coming from the mouths of what are proclaimed as the “smart-crowd” you would think we should be dancing in the streets, buying everything, and anything within arms reach, and much, much more.
Yet, anyone who owns, runs, or works for a business will tell you in private they are either paralyzed by uncertainty, or worse, they’re just scared to death. It just seems nothing makes sense as to what they know – and what they’re being told they should believe.
I talk directly with people who are entrepreneurs and business professionals. One glaringly impression that gets made to me over, and over again, is they literally can’t make heads or tails out of not only who to believe, but also what data to believe. (more…)
