Well, looking at the charts today, it would seem that the S&P500 is showing some signs of a little weakness. After a huge run up for the DJIA, Nasdaq and S&P500, I believe things are going to stop going up and a reversal is in order. Don’t know exactly when it will hit maybe a week or two or maybe even a month, but I think we are getting a little long in tooth here.
Archive for October, 2010
Entered Bearish Position with Canadian ETFs for S&P500 and Nasdaq 100
Thursday, October 21st, 2010The U.S Stock Market Has Rallied Big Time Amid Worsening Job Situation and Local Government Out of Money
Thursday, October 14th, 2010
The U.S puts out reports that the recession ended last year sometime, and the Federal Reserve say that they are going to do more “Quantitative Easing” to further stimulate the economy. The stock market responds by sending the Dow Jones Industrial Average well over 11,000. All this in my personal opinion is hog wash, it is just more U.S Government propaganda to make things seem a lot better than they are.
Entered Trade with QQQQ Put Options – Mar 2011 @ $44 Strike Price
Friday, October 1st, 2010
Well, the month of September had a nice run…the DOW, SP&500 and Nasdaq bounced back up. However, whenever there is a significant run up there has to be a pull back.
As far as the economy is concerned there is nothing in my view supporting the recent run up in the markets. From the macro view the U.S is still in huge deficit, government spending continues and jobs are still being lost despite corporations making record profit. Now add to that the recent report that over 40 million Americans are now considered poor, while the middle-class is being wiped out.
