Buzz & Banter
* The Optionable Bullish Percent indicator, an intermediate indicator, reversed back to Xs through yesterday's activity. It is now at 80%, matching the June high, but so far not exceeding it. Two thoughts here: 1) this sets up a higher high, and nearer outright sell signal at 72%, when this indicator inevitably does reverse down. 2) whether this indicator can exceed the 80% level will be very important in the very short-term.
* The dollar is a disaster so far this morning. I'm following the December contract and see support in the 97-97.20 area, but this makes two consecutive point & figure sell signals.
* Every broad market indicator I follow is above 70%, the high-risk level. Every indicator. Is this 1982? You know my big picture belief is that it's not.
* The good news is that even if it is 1982, and my big picture view is wrong, think about how much more upside there is left on the table in the long run! As always, the key is to have enough capital left over to stay in the game if your views are wrong. Gulp.
* I was prepared to write Vinny Vidi Vici this morning, but a critical breakdown in play calling on third and one last night makes that impossible.
* Hey Toddo, my family stopped hunting back when they invented those things... what are they called?...oh yeah, grocery stores.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter