Alex Filonov's  Instablog

Alex Filonov
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I was born in 1956 in USSR. After graduation from college in 1979 I worked full-time as an IT specialist. Until 1990 I worked for different companies in the Soviet military industrial complex. I created a small software business in 1991, which failed in 1993. I worked for Oracle Corp in 1995 in... More
My blog:
Muddling Investor
  • Can Market Hold 13-day Moving Averages? 3 comments
    Aug 26, 2011 4:42 PM

    Technical picture is improving. 13-day moving average is bottoming for all three major indices. All three indices closed above 13-day MA today. From my point of view, Nasdaq is the most important index, it led others since 2008. If Nazz closes above 13-day MA on Monday, that would be very bullish.

    There is a lot of talk of huge volumes in the first three weeks of August. I think it's safe to completely ignore volumes now, when computer-generated trades exceed trades initiated by humans. Volume becomes a function of price movement, doesn't matter in which direction.

    This is first time in months when technicals, fundamentals and sentiment all aligned in the bullish direction. Am I missing something?

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Comments (3)
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  • Michael Clark
    , contributor
    Comments (11988) | Send Message
    Alex: Friday looks like a trading top.



    Gold began to rally; the selloff in TBonds ended. Look out below (buy put options).
    27 Aug 2011, 06:51 AM Reply Like
  • Alex Filonov
    , contributor
    Comments (1412) | Send Message
    Author’s reply » Oh well, maybe. We'll see next week. To me, gold and Treasuries aren't that important, we had long periods when they rallied together with stocks.
    27 Aug 2011, 10:49 AM Reply Like
  • Michael Clark
    , contributor
    Comments (11988) | Send Message
    They CAN all rally together. But it seems like the paradigm has shifted again. Remember when it took a rallying dollar to drive down stocks. Now stocks can go down with a sinking dollar also. Remember when a weak dollar drove up commodities.


    New paradigm. Money into gold and TBonds (and Swiss Franc and Japanese Yen) and money out of stocks.
    28 Aug 2011, 01:43 AM Reply Like
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