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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, September 03, 2008

Technical Notes

Stock Market
The shorter term trends under the daily action are rolling over.
Take Note and scroll down to Fri. 8/29 entry for chart link of
SP 500. Note breaks below 10 and 25 day m/a readings and
today's dip of the 10 below the 25. Looking out through 13 weeks,
the technical ducks are not lined up in a commanding order, so
the short term action may get more attention than usual.

Treasury Bond Market
Bullish advisory sentiment is creeping up, with Market Vane
showing 71% bulls. This is not alarmingly high, but the reading
is tilted enough to warrant a heads-up.

Oil Price
As expected, oil has dropped to support at around $110 bl. where
the price is getting sticky. More interesting pivotal support lies
below at $100 bl. I am still guessing $90 by late in the year.

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