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Posts Tagged ‘ Tony Caldaro ’

Apr 21
Tuesday

Tuesday Market Summary

Filed under Stocks

The Dow Industrials tanked 289 points, 6 weeks after it bottomed and at 28 percent higher. The top came in as suggested by all technical indicators available to most good technical websites (Tony Caldaro, Guy Lerner, Brian Shannon). Our indicators concurred but we applied another level of buffer and were hoping for another 2-3% rise before shorting more. We are happy with our timing so far, having closed most of our long positions in the weeks leading up to this (including a small Dax short), and have a bunch of discrepancies opened between the Dax and FTSE (510 at time of writing). Our indicators confirmed a sell signal for the following few days to weeks after Mondays move - but we caution against shorting. We prefer to take this as an opportunity to get into good companies which is fundamentally unimpaired and well run (including those which have been hit the hardest and are “government protected” eg Citigroup).

Our short term indicators suggest markets may go up tonight - so hold your horses if you wish to short. The price movement last night also demonstrate that they show little correlation to news. Last week’s earnings reports were no different to Monday - the forces of market makers cannot be underestimated (and should always be exploited). Despite better than expected earnings, the market showed no mercy to Bank of America’s latest earnings. Citigroup dropped 24% from $4.00 to $2.80. We could not resist that temptation and bought 500 shares in Citigroup at $2.80. When DJIA hits our target 7350 +/- 100 points, we will go on another shopping spree.

In the mean time we have our sights on:

  • General Electric : aim for sub-$10 - more on our analysis on GE soon.
  • Google : only if it falls significantly
  • Natural Gas ETF and Natural Gas May contract : Buy signals triggered but may take 6-12 months to move up (long term play)
  • Gold : awaiting further falls and buy signals

All entries filed under this archive


Tony Caldaro Elliott Wave Analysis - Weekend Summary 270209
no responses - Posted 03.01.09
REVIEW The week ended with the SPX/DOW at levels not seen since early 1997. While the NDX/NAZ held above their 2002 lows, which were also at 1997 levels. Economic reports continued to worsen. Case-Shiller reported housing prices -18.5% for 2008, Consumer confidence is at record lows, Unemployment claims hit 667K, Homes sales ...continue
Elliott Wave Analysis by Tony Caldaro
no responses - Posted 02.01.09
This article is written by Tony Caldaro, New York based investor, and reprinted with permission - for a full version and daily updates please check out his blog January 31 Weekend update REVIEW The FED met this week in its regular FOMC meeting. Rates stayed near zero, they noted they may buy treasuries (monetizing ...continue
Elliott Wave Analysis by Tony Caldaro
no responses - Posted 01.25.09
This article is written by Tony Caldaro, New York based investor, and reprinted with permission - for a full version and daily updates please check out his blog 25 Jan 2009 Weekend update REVIEW A new year, a new president, but same old economic problems. In the US the economic reports for the week were about ...continue
Elliott Wave Analysis by Tony Caldaro
no responses - Posted 01.11.09
This article is written by Tony Caldaro, New York based investor, and reprinted with permission - for a full version and daily updates please check out his blog WEEKEND REVIEW The market ended lower this week after many traders returned from the year end holidays. The economic reports for the week continued ...continue


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