Mosaic: A Load of Bull?
Going green post-earnings shows the market has changed its tune - for now.
Vlad the Impaler (otherwise known as Nouriel Roubini) and the Boo-yah Man (otherwise known as Jim Cramer) are mixing it up. (Read this article from the Globe and Mail; you'll see what I mean).
As Albert Camus said, "the truth is a poor competition in the marketplace of ideas."
As the old saying goes - torture the data long enough, and it will confess to anything.
In the meantime, it will be interesting to see if the quant freaks sit on spike above the morning high: Rinse and wash, flush, and squeeze.
VMWare (VMW) spiked above its 200 dma after coiling below it for a few days on the heels of a breakout. After pulling back to test its 200dma it's coming on again and looks poised for 31 the next square up.
The S&P is doing a fine job of holding 90 degrees down from the 845 high which is 817 and suggests a possible Misdirection Thursday. A break of 817 and then 803 suggests the S&P could turn its Weekly Swing Chart down next week and test its 50 dma. The key level going into expiration IF any weakness shows up should be 360 degrees up from the low or our old friend 774.
In the meantime, the change in character in the market is conspicuous by the behavior in Mosaic's (MOS) going green post-earnings.
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