Thursday, June 26 th , 2008: Written 6:30 a.m. EST Going to find our “way to San Jose ” next week, on vacation, so I’m been auditioning books for the plane rides. One coming along is Hamish McRae’s THE WORLD IN 2020 . I previewed it and got caught up by his writing, the history...
TECHNICAL VIEW . Banks Beginning a New Down Leg In Price? The next technical question is whether the banks are breaking down again. Into a new down leg. I see the KBW Bank Index dropped to a five year low yesterday. With many individual bank stocks in the same boat. Key Bank (KEY) just went to a new...
TECHNICAL VIEW . Thrusday, April 10th, 2008 “A ‘line’ is a price movement extending two to three weeks or longer, during which period the price variation of both averages move within a range of approximately five per cent.” (Both averages meaning the Dow Industrials and Dow Transports.) The above quote...
FINISHING UP YESTERDAY’S BANK PANIC OF 1907 COMPARISON. My theme yesterday morning – that stock markets don’t crash during financial panics --was emphasized by yesterday’s price action. Pressure was again taken off the stock market by its big rally. Every time things get bad, the Fed steps in and the...
UPDATE ON THE STOCK MARKET . The bulls are now on CNBC saying it’s too late to sell. I beg to differ since I can’t figure out why it’s too late to sell. Maybe because some portfolios are already down big, -15% or more. But that still doesn’t mean they can’t drop much more. Just think back to the dot...