Wednesday
9.9.29 vs 9.9.09: Is This The Peak?
Our short term indicators suggested a down night tonight, which we seldom act on by itself unless markets move the opposite direction pre-open to give us a generous margin of error. However, everything is pointing to a rally tonight - the USD remains slaughtered, the FTSE hit 5000, the Dax is on higher highs, along with NIFTY, and NASDAQ (we have no doubt more will join this list of rolling year highs). Just out of interest, the Great Depression’s first post-crash rally (Elliot Wave traders call it wave-B) topped on the 9.9.1929! Could tonight be the night?
Before we forget, we made a few more trades tonight as part of house keeping. Our portfolio is looking quite full. As other opportunities develop, we feel that we need to move out of some positions to take advantage of better opportunities out there:
- Sold Citigroup (63% return, $895 profit) Bought : $2.80 ; Sold $4.59
- Bought 1000 units of Agriculture ETF at 5.815
- Bought 10000 units of Natural Gas ETF at 0.49
All entries filed under this archive
6 responses - Posted 07.19.09
Whilst we do not believe the past will predict the future, here is a chart showing all previous bear markets in the history of the Dow since 1929. We plotted all recessions and compared it with the current. 1929-1933 (Great Depression) 1937 1976 1987 2000 (dot com bear market) 2007 (current bear market) If we had to ...continue
1 response - Posted 06.10.09
A snapshot on the recoveries in previous crashes, comparing The Great Depression in 1929 vs 1987 vs 2001 vs 2009. The daily charts have the 200 day moving average, used by many technical analysts as the key level of support/resistance. Many believe a launch above the 200 day MA would ...continue
no responses - Posted 01.24.09
The continued weakness which broke through supports and saw lower lows on Friday (unexpectedly) makes us go back to our charts and drawing table to re-analyze the markets. Sentiment is down again, the financial sector is making new lows triggered by further bad debt, losses, and rising unemployment. News headlines ...continue
no responses - Posted 01.11.09
The Big Picture Whilst we are bullish on commodities long term, we believe prices will remain depressed for at least 12 months, if not a few years. Those expecting a a quick rebound will be disappointed. There is a fundamental paradox that the commodity market will have to go through - ...continue
no responses - Posted 01.11.09
TheInflationist bought some GIR last week at 0.34c (market cap: 60mil) with 73 mil in cash reserves, no debt, and 4 mil equity in listed investments. Since then GIR touched a high of 44c (29% above our entry) and closed at 39.5c (market cap 70 mil). TheInflationist got a "please ...continue
