I know a lot of people were calling for a retest of last week’s lows but I don’t think very many thought it would happen this quickly after Monday’s ginormous rally. It sure looks like those lows will be retested. The people were kicking themselves for not getting a piece (or all) of [...]
Here’s a short clip from the Daily Show which makes fun of CNBC’s Brady Bunch layouts and Treasury Secretary Paulson’s flip-flop on injecting cash into banks among other things (hat tip to Adam):
The tide certainly turned today. This was another day for the record books. The big headline will be the Dow having its biggest one-day point gain but even by the measure that truly matters, percentage gain, it was a huge day. According to CNBC the Dow had its 6th best percentage gain [...]
While reading an article “Stocks: Time to Slow Things Down?” it occurred to me that I haven’t seen “curbs in” on CNBC in a long time. After a quick search I discovered that the NYSE scrapped curbs back in November 2007 (emphasis is mine):
The NYSE formerly implemented a curb on program trading whenever the [...]
This was a wild end to a wild & historic week. The indices swung violently back & forth across wide ranges on what I’m pretty sure was record volume. (I still need to find a good source of stock market records.) The indices moved back & forth about 21% today (about 7% [...]
I don’t even know what to say that I haven’t already said over the last couple of weeks. Like Dr. Brett said last night the “normal historical indicators of market bottoms are broken”. I think Dylan Ratigan had it right tonight on ‘Fast Money’ when he said the market is crashing. [...]
Update: The line charts I posted yesterday didn’t show the correct highs for these indicators. So I’ve switched to candlestick charts. The difference is that T2116 is not quite at all-time highs yet.
I was just asked to take a look at another Worden indicator, T2116 — Percentage of stocks trading 2 channels [...]
Today seemed strange to me. I guess the pre-market skittishness over what the Fed was or was not going to do should have been a clue. It felt like more of a a buyers’ strike than a bear rampage. Although the indices closed on their lows and took out yesterday’s lows volume [...]
That was an impressive display of selling the fact after the bailout bill passed on Friday. The indices reversed had and slid from 4 to 5%. That put the nail in the coffin of one of the ugliest weeks in a very long time. The chart below (from the WSJ) does a [...]
We’re basically right back where we were at the close on Monday price-wise and indicator-wise. The folks who got long this week and held are having their conviction tested here. T2108 made a slightly lower low today vs. Monday. Perhaps we won’t gap up tomorrow and I’ll get my chance to put some [...]
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