Archive for August, 2006

Ahhhhh….Let’s Get Ready to Ruuummmmmmble!

Thursday, August 24th, 2006

On Aug 10 (see post), the market was set up to begin creating a right shoulder, as part of a Head and Shoulders bottom pattern. By Aug 16 (see post), that prediction became a reality as the market moved up to the neckline of the pattern. See charts below.     On Aug 16, it […]

The Bears were warned on Aug 10, to watch out for an ambush in Box Canyon by Bullish Desperados. It happened. Now what?

Wednesday, August 16th, 2006

In my Aug 10 post I warned the bears of a potential H&S bottom pattern. The S&P was trading at the bottom of a potential right shoulder after having touched down at the 50% retracement level of the rally from the bottom of July 18 to the top of Aug 4.    The set up […]

Attention Bears!! Bullish Desperados may be planning a Box Canyon Ambush

Thursday, August 10th, 2006

The markets broke down sharply after May 10 when Bernanke raised rates and left the door open to more rate hikes. In mid-June, a temporary bottom point was reached. Since then, the Dow and the S&P has been locked in a trading range while the NASDAQ has continued moving lower. In summary, the dividend collecting […]

The Feds have Leveled the Playing Field. Batter up.

Tuesday, August 8th, 2006

The Fed Leveled the Playing Field. Ben Bernanke announced that there would be a pause in rate hikes. The market liked that. There was a small quick knee jerk rally.   Bernanke also announced that the Fed would raise rates as needed. The market did not like that. Very odd that a speculative forum like […]

Traders want a cease fire from Ben Bernanke. Does it really matter?

Friday, August 4th, 2006

I heard a commentator on CNBC today wondering what happened to the relief rally. How come the market reversed today after a higher open? The employment numbers were surprisingly low and wages paid were a little higher. Everyone seems to think the Fed will like the numbers and that the Feds will pause in their […]