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Afternoon Thoughts


  • Brian has been putting out AWESOME bond pieces -- wait until you see his classwork!
  • I have gone through about 1,000 charts today individually (as I try to do everyday) and have found nothing new from today's price action. The smaller names that were beaten down on fears of their imminent demise are ripping to the upside and busting to either new highs or through trading range resistance. There is no shortage of them and many are in the Tech and Biotech space.
  • I have found very few bigger names that dominate the major market indices either hitting new highs or moving through resistance.
  • Rotation, Rotation, Rotation. At this point, it is important to look past the macro influences because they are being too widely followed. Typically, a new move (up or down) comes from an unknown catalyst.
  • Until now, I haven't been able to identify a catalyst that can cause the market to move through overhead resistance. There is the potential for an oversold rally in the U.S. dollar. If that were to happen and stocks moved above resistance, there would be a double catalyst for foreigners to put money to work in our financial markets. I am not predicting this scenario -- but I am identifying its potential effect on a market move above resistance.
  • Todd lives in NYC, I live in NJ, Casey lives in CA, Brian lives in MA and Charlotte-Anne lives in Texas. Who says remote locations can't work?
No positions in stocks mentioned.
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