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About Me

Retired chief investment officer and former NYSE firm partner with 50 plus years experience in field as analyst / economist, portfolio manager / trader, and CIO who has superb track record with multi $billion equities and fixed income portfolios. Advanced degrees, CFA. Having done much professional writing as a young guy, I now have a cryptic style. 40 years down on and around The Street confirms: CAVEAT EMPTOR IN SPADES !!!

Wednesday, November 28, 2007

Stock Market

Back on 11/18, I posted that the stock market was deeply
oversold and that a rally might not be far off in time. Well,
in the interim, the market got even more oversold, and with
better news over the past 2 days, it rallied powerfully, to
the point of leaving only a slight short term oversold in its
wake. Hard to say how it will do in the days straight ahead
after a 4% 2 day pop, but there has been a positive break in
my shorter term momentum trend, and that's an attention getter.
So is the prospect for a positive turn in MACD (12/26/9 day).

At this point, I continue to see enough economic uncertainty
out there to feel a degree of comfort in plunking the SP500 into
a rough 1400 - 1550 trading range until matters sort out

For the daily SP500, click.

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