Thursday, May 28, 2009

Three long weeks

For a long darn time now, the market has been moving up and down, making and loosing the same dollar over and over. Blah!

Of course, there are hot-spots: Gasoline (UGA), some commodities (SLV, GDX), agribiz (DBC), and more.

"The metal (silver) has gained 33% this year. In comparison, gold has risen less than 10%... The $15 level is a break-out area for silver," said George Gero, a precious-metals trader for RBC Capital Markets. "Silver is not a pure precious metal. It's also an industrial. So what helps silver is the fact that there could be a recovery." (From IBD)

Essentially, the market has been marking time with millions/trillions of dollars moving about with nothing to show for it. (Hmm... that sounds familiar.)

There is a chance of movement though:

Click for larger, Browser back.

The last two highs in this daily SPY chart are lower than their predecessors. The lows are higher also. There are many more down days than uppers; I think I'm seeing a trend develop.

Probably best to wait it out until the market picks a direction. But, as mentioned earlier, there is a direction in several key sectors.

Rats! The hover widget doesn't work here. Oh well.


  1. mike,

    I cannot see what you said here. The MSFT advert is right in the way of the most important part of this post. Was looking forward to it, too.
    This silverlight thing, can you elaborate on it.

  2. Please send me a screenshot KM. I don't see any advertisements.

    Silverlight is a MS product that seems to drive graphics. Since charts are very graphically oriented, they can be difficult to display except as images. Since the site wanted to produce real-time streaming charts, static images would be useless.

    These charts are wonderful for daily action following, however, one would then have to load their platform to make a trade, that platform probably already has built in charts.

    To link their charts into my blog, I have to copy/paste a bunch of javascript. That is fine here but once I edit the blog (I frequently do) the script all goes away. :-(
    For that reason, I won't link in any more of their streamers. Images are fine.

    I just had to play with the toolkit since I'm writing about them in an article for

    Sorry for the inconvenience.