Different market environments call for different temperaments, and this tape calls for One Cool Customer. The cross-currents lately are absolutely cartoonish – back-to-back-to-back triple digit rallies while each morning we are treated to fresh evidence of Slouching Housing, Hidden Consumer.
A lot of pros were washed out at the bottom this month when the 8 or 10 month moving averages that they use as stops were violated. Right on cue, the S&P rallied 6% off those lows during July, almost out of spite. The frustration is palpable and people are getting heated.
What to make of it all? I don’t know about you, but I’m looking for cool heads and calm direction – so I’m reading a lot of Leigh Drogen lately on his Surfview Capital blog.
You may know Leigh from the StockTwits stream. He is in this market, not just discussing it. And Leigh Drogen is cooler than Lenny Kravitz in February.
Based on his writing, it appears that he’s back to playing his momentum faves and making mental room for the possibility that the tape is, in fact, getting "healthier"…
It’s hard to sit through pullbacks, but as Jesse Livermore said, the real money is made by sitting, not by coming and going. The last two days have been a tough chop fest where you really don’t want to be trading. I took off a decent amount of long exposure yesterday morning at the top, but not enough to keep me from looking at my book today and cringing, just a little. Even when you know what’s about to take place, and that your plan is to let it happen and buy into it, watching your P&L move against you is never fun. Today my second largest position, and what is a normal position size in $WPRT is down 10%, not fun. Other than that, everything is acting predictably soft, consolidating nice gains from the past week or so. We’re not playing for peanuts this time as has been the case the past three months. It’s time to make some real money as the market has become a bit healthier. Raise your stops along the way and buy the pullbacks.
Whenever sentiment and the direction of the market diverge so drastically as is the case now, the key is to stay cool. For smart, emotionless…
Here is an advance preview of the monthly moving averages we track after the close of the last business day of the month. At this point, before the close on the last day of the month, all three S&P 500 strategies are signaling "invested" — unchanged from last month's triple "invested" signal. All five Ivy Portfolio ETFs — Vanguard Total Stock Market ETF (VTI), iShares' Barclays 7-10 Year Treasury (IEF), PowerShares DB (DBC), Vanguard FTSE All-World ex-US ETF (VEU) and Vanguard REIT Index ETF (VNQ) — are signaling "invested", changed from last month's quadruple invested signal.
Judicial Watch announced on its website today that it has submitted a list of 25 questions to Hillary Clinton regarding her email practices while serving as Secretary of State. Pursuant to a decision by U.S. District Court Judge Emmet G. Sullivan, Hillary has 30 days to respond, under oath, to the questions. Per federal law, Judicial Watch was limited to a total of 25 q...
Some people like to get outside on the weekends, maybe playing tennis or working in the yard. Some people like to visit their friends or cook a big meal or go out to see a movie. And some people who are passionate about their work -- such as Elliott Wave International's futures analyst Jeffrey Kennedy -- like to stare at hundreds of price charts on their computer screen to find patterns that point to trade setups. We used to worry for his health but not anymore, because he's been doing it for years and he comes up with some neat stuff. A case in point is his discovery of a two-bar pattern that he named the Popgun. Find out more in this excerpt from the Club EWI eBoo...
The US Dollar/Yen is facing a trio of potential support lines at this time with few people bullish the US$/Yen at Stocktwits. What happens at this potential support zone, could well impact the Risk On trade from now until year end.
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The trend in the US$/Yen remains down for the past few months, as the YEN has been stronger than the US$. The US$/YEN remains inside of a steep falling channel over the past 10-months.
The bottom of this steep falling channel and two ot...
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Epizyme was founded in 2007, and trying to create drugs to treat patient's cancer by focusing on genetically-linked differences between normal and cancer cells. Cancer areas of focus include leukemia, Non-Hodgkin's lymphoma and breast cancer. One of the Epizme cofounders, H. Robert Horvitz, won the Nobel Prize in Medicine in 2002 for "discoveries concerning genetic regulation of organ development and programmed cell death."
Before discussing the drug targets of Epizyme, understanding epigenetics is crucial to comprehend the company's goals.
Genetic components are the DNA sequences that are 'inherited.' Some of these genes are stronger than others in their expression (e.g., eye color). Yet, some genes turn on or off due to external factors (environmental), and it is und...
This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible. Feel free to contact me directly at firstname.lastname@example.org with any questions.
Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts. After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.) Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.
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