SPY ripped around 53 bucks to the upside before the close… but I don’t feel great about it. I’d never hate on a good rally, but this ain’t that. That might change next week, but we’ll deal with that when we come to it. My unease with this upswing has got nothing to do
Over the past few weeks we’ve talked about the upside in shorting bonds - and taken some positions accordingly over in the Live Trading Room. We’ve talked about weakness in homebuilders’ stocks, too, and we’ve also acted on that thesis. There are some interesting developments that suggest we could b
Last week I warned everyone that volatility was going to go on a rampage. And that’s exactly what it did. And here’s the thing: It’s not over, not by a long shot. The rally sputtered and nearly died today. By the close it had made up some ground to end up… “massively unchanged.” But in
We were excited for last week’s lows, and for a good reason. I told everyone to wrestle with the bear and get in the market and go shopping. We’re off those levels now, and I still think taking advantage of the selloff was the right call. I’m seeing some encouraging signs bubbling underneath the ral
Stocks rallied back strongly today after shaving off more than 1% last week, but the buying fizzled heading into the close. It was gold, which until recently had been rock-solid, that took the biggest hit as traders took profits. But the question on every trader’s mind right now has to be: “Can we t
Last week, I went out and said the market was on the “edge of the abyss” of volatility. Plenty of people probably thought I was freaking out - after all, plenty of tech stocks were hitting highs. But I said at the time that tech had taken no damage. I said tech needs to take
Texas-based D.R. Horton is the biggest homebuilder in the United States. They just turned in a stellar earnings report. Revenue is up by $1 billion, guidance suggests even better performance ahead, and all of this in a historically tight American housing market. The market… doesn’t care. The stock e
The market is volatile right now, no doubt, but it could turn into an absolute mess over the next couple of trading sessions. What’s the difference between “volatile” and a “mess?” Well… The activity we’re seeing right now is disconnected, jumbled - too fast. Every little data point, every offhand c
We're seeing mounting signs that a “low of significance” is imminent in the stock market - we’re at a critical juncture, and I’ve got the charts to prove it. We’ll look at those in a moment. I really want you to see these. There’s a really great opportunity coming to put on long positions at
