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Message: Today's Market, TGIF

Today's Market, TGIF

posted on Dec 11, 2009 11:33AM

Kinda Long Winded today, so please be patient...

On NYSE - KRY sp still seeing down pressure, which might be considered a part of the regular up and down cycle - which technicals (very ugly Bearish, by the way) show sp is currently in the down part. Making a higher-low (better than 0.2700) should be easy, but we shall see - so be aware. SCC (we all know it is the Cat Man, but sources indicate the BCMB is trying to muscle in) paints at the end are for a reason, which is to prop sp and maintain interest - just as Nomar suspects. Although there is currently an apparent sell off, be aware that total volume over the last 6-7 days of the down cycle has been a bit under 7M total (but, still plenty of trading day left). The two big days of Nov 16-17 saw about 41M trade. On 11/30 about 3M moved apparently to the downside, immediately followed by two days of about 11M apparently to the upside. Short interest did increase, but is to be expected and is still what might be considered insignificant. What is significant is the Tradewinds move, but by the time little guys learn of this it is way too late, so just be aware. Although all of this is definitely non-scientific, and totally estimated, it appears that about 52M got in over the last four weeks, and about 10M out for about a five-to-one ratio of those getting in to the better. Could be considered as something to hang your hat on as it does show interest for, "Our Precious," Lotto Ticket.

S&P500 is up (albeit slightly) and Gold is down? Are we headed back to a normal, whatever "normal" is, Market? Nyahh. Retail sale are up, so there is more faith in Stocks - at least for today. Banks down, Miners mixed (gold down, copper up), Retail up, Technology down, Ocean Shippers up, and - RecessProofers UP (Hmmmmm...). Might see profit taking later today, as it is Friday.

Gold seems to be slowing its descent. Good retail sales apparently not so good for Gold price. GLD technicals indicate an intersection of the lower BB by sp to be about 1075'ish. Looks like EZ may be correct in calling the cycle bottom, so start shopping for, oh let's see, maybe a Gold Miner? Overnight, after the one hour midnight rest (Zulu Time), London took a shot at pumping up Gold, then NYMEX opened and it almost seems lucky that Gold is where it is at, currently about $1110'ish and not a lot lower, although there is still lots of trading day left.

On Cats and Dogs - Ok, let's get something straight here... We all know that the Cats and Dogs are in charge. It is what it is.

Raining here in Sunny Cal. Hope everyone has a good day and weekend. Thanks for the read.

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Dec 11, 2009 11:49AM
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