Schweizer

Closing Update for Monday, July 27: Scratching It Out

Yet another article praising the 11% monthly rise in new home sales neglecting the 6% one-month drop in prices which is far more significant to the economy. Imagine if this 6%/m drop continues and what it does to foreclosures in the existing homes number. Duh.

Weekly Preview: Last Week's Rally Should Be Viewed with as Much Suspicion as Relief

Good article. All that really happened last week was a panic short covering rally by those who went short at the H/S neckline break which reversed on the pop based on GS and INTC earnings releases. Once above the neckline many traders keep reshorting, only to have to cover a second or third time. It was like throwing a constant supply of twigs on the fire. I suspect that is overwith now with Friday's doji.

There are some major Moving averages as resistance on the weekly and monthly charts at the current prices so I'd like to think these will hold. The DOW also is at a downtrend resistance line.

One pro called last week a classic boiling at the top of a range, just before a major spillover. Seems to fit as I did not see any bulls piling in - just Bears as buyers, covering.

Bank Stress Tests: Is Everybody Confused Yet?

They claim the stress test was to help the public build confidence in the banks.

The complete opposite is happening.

I wish the FBI would uncover all the scams the FED, Treasury, Congress, and Wall Street are pulling by using taxpayer money to trade equities in order to control price.

This needs to get cleaned up if we are to have a healthy future.

Why This Rally Is Unsustainable

The Treasury should not be allowed to buy/trade equities.
The FED should not be allowed to buy/trade equities.
And banks (GS in particular) should be limited in their ability to buy/trade equities.

These 3 are too large to allow a fair value to be set.

Or are they already trading illegally but there is no one with balls to stop it?

Tuesday Market Preview: Down Further?

Santa Clause rallies are weak or nonexistent in Bear markets. If they happen, they are Bull traps.

$BPSPX (Bullish percent) is not indicating a turn here. We WILL drop.

All Shoes May Drop for the Banks

Probably the most concise and defendable article posted here in weeks.

Well done, and thank you.