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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 30, 2011

Stocks: And Now, The Turbo Moonshot

Not just up, but UP at an 86 degree angle. My money stays in cash until we see more stability in the market. As a retired dude who has had a decent year, I do not need to play 12 day price
 momentum swings of +10 to -10%. Plus 5 / minus 5 is fine by me. On my hard copy chart, the
SPX actually failed to take out the downtrend line in place since mid-Jul. -- a mechanical sell signal.

The Asian markets could light up tonight and that could carry the SPX higher tomorrow morning,
so I would not put my last dollar down on the sell signal. At any rate, since up beats down in the
market, I'll complain no further. $SPX chart

Scroll south for background on today's pop.

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