Trader’s Narrative

Today the stock market echoed Friday’s late day surge on similar rumors of a bond insurer bailout.
Market breadth was very positive with advancing volume outnumbering declining volume on the NYSE 6:1 and on the Nasdaq 4:1.
I’ve had a few requests for more bread and butter technical analysis so here you go:

The volume today was a […]

Over the past few months I’ve received this question more than any other:
Where do you get your bullish percent data/charts?
So instead of answering each person individually, let me write about it so everyone will benefit - and leave me alone!
There are quite a few places to get bullish percent data but I use […]

It has been an unforgiving few months in the market. It is the weekend. Time to crank up the tunes, unwind and regroup. So, in homage to the Chairman of the Board and stock market bubbles gone by:
Buy me to the moon
Let me invest among the stars
Let me remember what 1999 was like
Power steakhouses […]

Sentiment Surveys
The common sentiment measures like AAII and Investor’s Intelligence haven’t changed significantly from last week so I won’t delve into the details. Most are continuing to show some level of bearishness, which as contrarians we should find comforting.
Consensus’ bullish percent continues to fall faster than a pervert’s pants. It is now at 23% - […]

Time to ‘fess up. I’ve been horribly, horribly wrong on gold. So much so that now I’m afraid of being labeled a contrarian indicator!
So let’s see, in December I thought I saw a tentative double top in gold… which didn’t materialize. Instead, gold paused by trading sideways for a month and then continued blazing higher […]