AndrewBaker

Rally Broaches Resistance: What the Charts Say

It's a good idea when reading charts not to try to trade the top or bottom 10%, because you just can't know, and the change in trend can cut you. So, when it is looking like a change of direction, wait and see. In this case, there won't be any long buying for me this week, but my shorts are already in place.

Wall Street Breakfast: Must-Know News

Most news right now is financially gloomy. We´ve got a hate on the bankers - rightly so - yet have to see them get given money, with more likely down the road. To ease this pain, I applaud every constraint that stops them getting more than their fair due and no bonuses when none are due, and I say we need a system where the bad ones are recognised and removed. Then perhaps we can feel a little easier about putting our own money, personally and through taxes, into their care. Maybe we could even buy their stock to help get us out of the financial mess they and other greedy uncaring business people and politicians (through lax regulation) got us into. I don´t like supporting the bad but we have got to get our financial system back in good working order: I´ll short financials when it´s stupid not to, but give me a reason for going long, because that´s the only way forward to get us solvent again.