Reconquista |
The upper daily SPX Bollinger continues to dribble off a point or two each day, and is closing in on the upper trendline of the rally count since 1737 SPX. I relabeled this count as a series of triplets, particularly obvious in the "wave 3" up from 1820.
SPX 01-14 |
My SPY calls made it back into the green by close today; please include them in your prayers.
6 comments:
Our hearty congratulations go out tonight to a Mr. Karl S. Denninger, of Niceville, Florida, for his investment acumen regarding the beaten-down tech stock, BBRY.
BBRY popped nearly 30% today on -- oh wait, never mind.
Hey, someone from Shelton, WA, just visited the blog. How cool is that? Welcome!
Hey...Custer,WA has been lurking for a year now. Live the blog
The Swiss have left us in wave 4 purgatory, possibly forever and ever.
While it is clear that the tape since the late-December Bradley turn is not impulsive, at the moment we are looking for a spark for the expected wave 5.
UVXY is as bored of this as we are.
Well, someone needs to beat on the VIX or USD-JPY or Meredith Whitney or something else useful here.
The SPX close left us sitting right on the lower daily Bollinger Band. Add that to the long list of reasons why a rally is overdue.
Yes, Bicycle, some sort of failure at this point on this messy chart would be weird and unfortunate.
Deflation and fear are out there. The 10Y T yield closed about a dime lower than it did when it crashed back in October.
There is only one way to play this volatility and that is to let others take the risk. Sure, the returns aren't that great, but it is what it is. I'll accept 4% for this month.
Other than that, watching, waiting for next run (and hopefully soon; though hope ain't an investment strategy ;).
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