Market Strong Despite Bad Macro News
Join Jeff as he takes a look at how big retailers like Gap (GPS) and Aeropostale (ARO) are performing, what's going on with Ford (F), and what's in store for the week ahead.
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Be mindful: the respected JeffMacke(tm) comes equipped with a short-term trading timeframe. Know your time and risk tolerances, my friends.
On hockey: Penguins RULE !!!
I much prefer to get long and stay long for extended periods; just not in a tape getting more challenging every week. Shorting is expensive and dangerous for those who aren't playing the market all day, every day.
I "made my bones" running money in the late 90's. David is absolutely right, the experience left me inclined to take profits sooner rather than later. I was long Infospace (INSP), for goodness sake. Folks who dilly- dallied on heading for the hills when that bubble broke are still long Cisco, at best, making them down 75% since 2000. If they bought and held Excite, At-Home, Egghead Software, Ktel or a few hundred other stocks they hold a big stack of wallpaper.
I've seen things which can't be unseen and learned lessons both through study (the easy way) and getting my head handed to me, which is entirely unpleasant but effective as a teaching aid.
Had the S&P stayed lower than 1050 I'd still have at least a token position in the the SDS etf. I didn't and I'm out. It's less a matter of time frame than price targets and big, purple stops.
As for JOSB, Jarrett, they seem to have turned a corner, good call if you're long. In terms of knowing the beast, be on the look out for SSS results that seem to come out of a random number generator. Consistency is Jos.' old nemesis.
Thanks for stopping by on a Sunday, guys!
- Macke
Respected, Beloved & America's Sweetheart
Also,RUT is harder to manage.
It's not really logical, and it can't work for long (stock and asset price manipulation for National Security purposes), but they know no other way to counter an approaching collapse.
I don't believe there are groups or bodies manipulating the close on a daily basis. There doesn't really have to be as traders simply fearing such a body will act to get ahead of it.
It's like a guy being 6'7" and ripped. He may be a coward who faints at the very thought of getting in a fight. But no one knows because he certainly looks like he could crush a man and who would bet against him?
Governmental bodies don't have to manipulate prices, they just need traders to think they do. Being conspiracy minded by nature, traders believe the game is rigged and act accordingly.
But still....... I am coming around to the belief that for what they consider "National Security" considerations, the Treasury/FED are involved in trading Equity, Oil and other markets through their bank proxies GS and JPM. This attempt to mollify the Masses will ultimately fail- the structural failure is fatal. But what better way is there to paint a veneer
over the gaping hole in the hull than to manage the one number heard by every American everyday, the closing price of the Major Stock Averages. They can further justify this by viewing it as an extermination of unpatriotic Shorts for the benefit and re-capitalization of the money center banks.
If we had a few trillion at our disposal and wanted quick and dirty results, isn't that what we would do too?
I use technical analysis to identify trends which also indicates where the economy is headed.
My long term USD indicator has been giving BULLISH warnings for some time.
My indicators can identify trend changes before they occur.
They warned me of an impending market crash back in early *2007*
The VIX continues to give bullish warnings as well.
The primary trend for stocks remains down, is the bear market rally ending ?
http://twitter.com/GrandSupercycle
