Looks like all the traders have left the building! Equity markets are sleeping right around the "unchanged" level, while Gold is up $7 and Oil is taking a breather, trading under $90 at 89.33. The Euro is strong, trading at 1.34, while the Dollar continues decline, trading at 79.51. The action today is in the bond markets, with bonds strong, with the long bond at 4.38% and the 10 year at 3.32%. Our Momentum Change indicators on Wed signaled a new direct for the bond, with a new Buy for the TLT at 92.0.
With oil down, gold up, dollar down, bond up.......looks like the correlations continue to by absent.
Our Momentum Change indicators are back flashing "look at me" signals in the SPY and the Oil... but both are still holding the Buy signals as of this morning. USO hourly chart is showing a series of failed auctions at 38, indicating a rally from this level. If we get new signals this afternoon, we will post it prior to the close.
Happy New Year... and Best to Your Trading!
Bill
Hi Bill,
ReplyDeleteThese sites might be of interest to you.
http://www.timertrac.com/Public/Default.asp
http://covestor.com/
All these seem like a modern day gladiator arena, except that money flow instead of blood. The internet allows the cream of the crop to rise to the top.
Best wishes,
Kenneth
SC
ReplyDeleteThanks again for the links.. I was aware of Covestor, and had been on their web site.. had not considered using them... but your info has given me some new ideas.
Social networking is changing the nature of relationships.. and those of us who are not of a certain age often have a difficult time seeing how those new relationships can be helpful.
Thanks again.
Bill
Bill,
ReplyDeleteTry looking at it from the mutual fund perspective. In the sell side, it is personal relationship. Personal trust is everything. But, in the mutual fund model, it is all mass marketing. There is no personal relationship between the manager of your asset, and you the investor. The mutual fund model has proven to be viable. Of course, most of the high networth investors still prefer to hire a money manager, due to the personal attention and handholding. But as a business model, the mutual fund model where there is absence of personal relationship, has proven to be viable.
To me, I don't see it as changing the nature of the relationship. I think it is more like allowing more different types of relationship to flourish. There are those who only want to access your services. And then there are those who for intellectual curiosity and philosophical reasons, would like to know the person whose services they retain. Social networking is just an electronic showroom.
Best wishes,
Kenneth
P.S. Is today the final blow off top? Well, it sure has blown off something, ie my puts. hahaha.
Kenneth
SC
ReplyDeleteAgain, thanks for the feed back. If you are interested, send me you private email. I have another comment to make privately.
Bill