ak3583's Blog Posts on People And Picks

The Stairs, the Elevator, and the RUT

Sun, 23 Jan 2011 06:18:35

As the Russell 2000 Index (RUT) worked its way lower each day during the past holiday-shortened trading week (http://tinyurl.com/48edpwg), I was reminded of the old saw that advises us equity prices take the stairs up and the elevator down.

With this in mind, I note a triple-bottom breakdown was recorded on the RUT's point-and-figure chart Friday, when its price objective (P.O.) flipped from a bullish 815.00 to a bearish 740.00 (http://tinyurl.com/27nx3b). According to one of my elves based in New York, the RUT's P.O. last switched sides on Sep 1 (http://tinyurl.com/4tosaxh)....

NDX: Dumb Money Versus Smart Money

Wed, 06 Oct 2010 14:54:53

The whole concept of Dumb Money Versus Smart Money strikes me as pretty offensive -- mostly because I have a sneaking suspicion about my own money's IQ -- but I nonetheless found illuminating this "Is the Smart Money Getting Short?" blog post at Pragmatic Capitalism (http://pragcap.com/is-the-smart-money-getting-short).

Displaying a SentimenTrader chart, the blogger contends the most recent Commitment of Traders report indicates the net short position in the Nasdaq-100 (NDX) is almost twice as large as it has been at any time during the past five years.

To quote not only Homer Simpson but also one of my favorite P&P participants: Ay caramba!...

SPX: Candle in the Wind?

Wed, 22 Sep 2010 11:56:10

Although the advancement of my candlestick-charting capability continues to be a work in progress, I found the latest candle on the S&P 500's three-month daily chart interesting last night (http://tinyurl.com/2w72mys).

Especially in the context of the index's performance early last month and the current state of its Bollinger bands . . ....