Trader’s Narrative

In this weekend’s Barron’s there was an interesting mention of research from Thomson Financial on the predictive abilities of the IPO market. They looked at whether an IPO trades above or below its price range and what bearing that has on the market going forward. Here’s an excerpt:
“THE BROAD MARKET IS WAY OFF its new […]

Today, the CBOE equity only put call ratio hit 1.22. Which means that for every call there were 1.22 puts.
To find a more extreme reading in this indicator, we’d have to go back to the late summer of 2004 where the S&P 500 found footing at 1065.
On August 6th 2004, the equity only put call […]

Looking at the Nasdaq advance decline numbers, I noticed that we are at a very deep oversold level here. It basically confirms what I outlined yesterday through other indicators.
I look at the 5 day simple moving average of the Nasdaq breadth numbers because I want something very short term and 5 is also the number […]

No, I don’t want the Fed to cut rates because that would give a hyper boost to the stock market. And no, I’m not calling for rate cuts because of the housing market, the sub-prime meltdown or the subsequent shutdown of the collateralized debt market.
Rather, I believe the Fed should cut rates immediately because […]

So after warning you that we were headed into some shaky grounds on Monday morning (premarket) when the S&P 500 stood above 1540. And after the market fell to around 1510, saying that we had still some more room to the downside… Let’s see if I can continue this streak.
Lowry’s 90/90
No question today’s market […]