Sunday, March 28, 2010

Enjoy a delicious snack

Not much time for stocks lately. Been thinking about a few longer term, bigger picture, philosophical things but don't have time to write them down right now. In the meantime, enjoy a delicious snack of intra-day readings on the Chicken Oscillator. Hopefully that will tide you over until I have time to write something more substantive. Short term trend is up within the ongoing secular bear market.

Monday, March 1, 2010

DOW coiling under Big Bear resistance line

Please indulge me while I anthropomorphize the stock market.

A line on a chart is valuable only to the degree that price "respects" its authority. Price shows respect the same way a small time street hustler shows respect to a Mafia lieutenant - by doing what it's told and staying out of the line's face.

That means price runs away from the line when it gets too close, or it gaps over the line when it wants to get to the other side. In either case, price wants to quickly put distance between itself and the line, lest it receive a beat down. That's respect, and it makes for an orderly crime syndicate as well as orderly technical analysis.

Mind the fibs: Bearkill Edition

If you mind 'em on one side, you gotta mind 'em on the other. This is a nice breach of 38.2% line on the $COMPQ's lifetime fibonacci fan, which I blab about from time to time.