Manuel Blay's  Instablog

Manuel Blay
Send Message
Trader and investor. My trading is short-term based (avg trade duration 4-5 days). As investor I'm deeply influenced by Dow Theory
My blog:
Dow Theory Investment
  • Dow Theory Update For April 11: Stocks Make Higher Highs  0 comments
    Apr 11, 2013 4:58 PM | about stocks: SPY, DIA, IYT, GLD, SLV, GDX, SIL

    Transports fail to join the bullish parade

    Zero Hedge sees a correction coming

    Zero Hedge has noted that, of late, credit markets seem to be a good predictor of stock market activity. In other words, when credit markets swoon, stocks tend to follow suit.

    Recent action (declines and shares redeemed) in JNK ETF seems to suggest that stocks are going to face headwind soon. As followers of this Dow Theory blog are well aware, volume has been bearish for weeks now, so a secondary reaction wouldn't come as a surprise. However, I give priority to price action itself and, until now, the trend has not changed.


    The SPY and Industrials closed up. The Transports closed down. The primary and secondary trend remains bullish.

    Volume today contracted as prices advanced. This makes it a bearish volume day.

    Gold and silver

    GLD puked yesterday 16.84 tonnes, which is more than Cyprus's gold holdings. I again encourage my readers to read Fofoa's latest post to find plausible explanations as to the deep meaning of what is happening to GLD's inventories.

    GLD and SLV closed up. The primary and secondary trend is bearish.

    GDX and SIL, the gold and silver miners ETFs, closed down. The primary and secondary trend is bearish.


    The Dow Theorist

    Stocks: SPY, DIA, IYT, GLD, SLV, GDX, SIL
Back To Manuel Blay's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.