The S&P Finacial sector swings from peak to trough and back (via Ron Griess of The Chart Store) . . .
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Fascinating stuff . . .
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof. —John Kenneth Galbraith
Knowing that the vote over the weekend in Greece was really a referendum on Euro membership, a majority of the Greek Parliament said yes to staying. European Finance Ministers meet again on Wednesday to solidify the 2nd bailout package for Greece at the same time hopefully a deal is consummated between Greece and its creditors this week. The Greek 14.5b euro bond that matures on March 20th is up by 2 pts. The optimism that all will be completed and contained AGAIN to Greece has yields lower in Portugal, Spain and Italy. The iTraxx Financial Index is also narrower by...
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October 29th, 2009 at 1:25 pm
Playing the long side from the depths was an insanely good trade. Assuming you still had money after the crash and that you will get out relatively soon with some of your profits…
October 29th, 2009 at 3:07 pm
Interesting convos going on at zerohedge about yen/dollar “derisking” going on. Don’t let em see you sweat.
October 29th, 2009 at 5:58 pm
Another reason not to buy and hold…
October 29th, 2009 at 9:19 pm
Excellent observation. It will take much more upside from year, to get back to break even with the financials. But it is also worth noting the directional swings on the chart.
I believe that one can profit not by having a thesis of where the market will be six months or a year from now, but by watching the current direction and going with it.
That is where the trading signals come in. They can help an investor profit both from the upside and the downside of the market.
Consider http://invetrics.com
Its daily DJIA index trading signal is up a respectable 62% for the year (as of October 23, 2009) and it is free of charge for individual investors.