
Marketissoldoffheavilyinthemorningandcouldnotrecoverintheafternoon.
ThenextsupportforS&P500is1300whichisnottoofaraway.Marketisonceagainintooversoldzone.AAIIbullishsentimentwillhitanotherlowthisweek.Inlasttwoyears,wheneverWm%RorSTOetc.TAindicatorsgetintooversoldzone(itmaydipintoheremultipletimes),andAAIIbullishsentimenthitslows,somesortofrallythatfollows.GivingthattherearemanyuncertaintyinE...[
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Marketisinreliefrallymodetodayleadingbycommodityrelatedshares.S&P'sinverseH/Sbreakoutwasfailed.Nowmarketgoesbacktoretesttheneck.Failtobreakoutagainindicatesfurtherweaknessisdowntheroad.ThetradingreferenceisS&P1318(yesterday'slow).
SilverandCrudeoilarelikelytotradeinarange.Breakeithersideoftherangeisnotlikelytoholdtoolong.Iwouldsellthisboundin2-3dayssinceUS$'sA-B-Ccounterrallydoesn'tsee...[
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MarkettumblesagaintodayleadingbyhighmultipletechssuchasAMZN,NFLX,etc.Thisisanotherindicatorthattherewillbeanotherwashoutcominginthefuture.
Aftermarket,therearereportsthatsomeverysmartbignamesliquidatedtheircommoditiesnamesandfinancialnames.Thisindicatesthatcommodityselloffisstillongoingandfarfromover.
SincethebreakoutofS&Phasfailed.Itishighprobabilitythatwemightseequiteabitofdownside...[
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Marketissoldofftodayleadbycommodities.
Afterhour,theyraisedmarginrequirementforgasoline.Looksliketherearequiteabitroomforthesecommoditytofall(theywillbringcommodityrelatedshareswiththem).
Multinationalstocksarealsohurtbecauseofuptick$.
Thisis2ndtimemarketteststhebreakout.Failedbreakoutusuallycausesbigdownturn.Weneedtobecarefulaboutfurtherselloffs.
Defensivenamesareholdingwelltoda...[
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JobDataisbetterthanpredicted(inshortterm,itdoesn'tmatterifthisdataisfakedornot).Marketwasnervousaboutthisespeciallywhencommoditieswassoldoffheavily.
S&PtestedthebreakoutpointofinverseH/Syesterday(seemypreviouschart).Iwouldsayitissuccessful(althoughstillneedtogiveitafewdaystoconfirm).
SinceO8obviouslyispreparingforhisre-election,Ithinkweneedtochangeourinvestingstrategyinnearterm.
...[
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S&Pisretestingformerbreakoutpoint.Probablystillhassomedownsideinnextfewdays(JobdataFriday).MGMreportedgoodearning.Sogainsomeoverthere.Fdidn'tworkout(ideaisright,butshouldchooseGMoverF.)CLHisalsoworkingok.HighyielderssuchasMO/RAI/VZ,etc.areholdingwell.Butlikelytoseesomesellingtherealsoifmarketcontinuestofall.However,therearesomebrightspotsonthisdownday.AAPLdidn'tfallunder$346evenwithQQQrebalanc...[
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Hereisthetimetobuythosebanks.
JPMisthebest.BACmightgivethebestreturns.
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Lookslikeweareoffrunningagainafterashortbreath.
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Fromtoday'smarketreaction,itseemstomethatthismightbeastartofapullback,especiallyincommodityrelatednames.
Energystocksaresoldoffsince10:30am.Thereisnoreboundduringtheday.
Copper/AGstocksarealsoperformingpoorly.
Silverminersarelosinguptrend.Goldminersaresoldoffalsowhichmakesmypreviousthoughtinvalid(wrongidea).
AfewleadersalsoretreatssuchasCAT/AAPL/DD/DE,etc.
Smallcap/Midcapareret...[
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