Thread: Bear Cave 2 (Bull Allowed)

Technical market report for September 18, 2010


The good news is:

NASDAQ new highs expanded to levels not seen since late July.


The negatives

The market is overbought going into a seasonally bad week.



Conclusion

The market is overbought going into a week that seasonally has been very weak.

I expect the major averages to be lower on Friday September 24 than they were on Friday September 17.

Last weeks negative forecast was a miss.

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In his latest newsletter, Jerry Minton looks at the impending arrival of the election cycle “power zone� and what it means for the market. To read the newsletter and sign up for a free subscription go to www.alphaim.net.


Thank you,
Mike Burk
YTD W15/L14/T8

Disclaimer: Mike Burk is an employee and principal of Alpha Investment Management (Alpha) a registered investment advisor. Charts and figures presented herein are believed to be reliable but we cannot attest to their accuracy. Recent (last 10-15 yrs.) data has been supplied by CSI (csidata.com), FastTrack (fasttrack.net), Quotes Plus (qp2.com) and the Wall Street Journal (wsj.com). Historical data is from Barron's and ISI price books. The views expressed dare provided for information purposes only and should not be construed in any way as investment advice. Furthermore, the opinions expressed may change without notice.

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Larry Kudlow, Chinese Patriot
September 18th, 2010 Larry Kudlow’s vigorous and passionate defense of China’s new trade-war on Japan on CNBC last week is a shining example to all aspiring shills.

Note to Japan: I regret to inform you that you are on your own. As China drives up the value of your currency in order to take market share from your exporters, the USA will not help you. Larry Kudlow is “in the loop” of the powers that control American trade policy, and his opinions are an accurate reflection of how you can expect to be treated.

http://www.trivisonno.com/

So you just went long to make some "easy money" during the monthly strength period and window-dressing by funds the last days of the quarter.

Well, maybe you will make money, but it is not with-out increased risk this month and quarter.

Here are a few data points to consider about this month and some other points that I read at Traders Almanac:

1. We are overbought!

2. The End of September Is Prone to Weakness Due To End of Q3 Institutional Portfolio Restructuring.

3. Last Day of Q3, Dow down 9 of last 13 years.

4. First Trading Day of October; Dow down 4 of last 5, Off 2.1% in 2009.

The worst Dow week in the history of Wall Street was the week ending Oct. 10, 2008, Dow lost 1874 points (18.2%).


I know - don't worry the Fed has our back.... and this is all very Bullish! Well, maybe it is and maybe Ben does have your back.....We shall see. So, good trading to you.

Robo

100% G Fund


Oh, I forgot one. I never fade Doug Kass!

Pressing shorts... I will be on Fast Money to discuss strategy tonite at five pm $$
about 6 hours ago via TweetDeck
Reply Retweet . i continue to expand shorts into giddiness -- and awful acting financials and continued bad market breath $$

http://twitter.com/dougkass

Doug Kass: 'Toxic Combination' Threatens Sept. S&P Gains

As bullish as the momentum may seem in stocks right now, chatter is growing that it could all come to a screeching halt on Friday October 1st once the month and the quarter close.

Strategic investor Doug Kass is among those investors who thinks we're about to hit a wall.


http://www.cnbc.com/id/39427803/

A Hollywood Ending for the Stock Market

By Jeff Clark
Thursday, October 28, 2010

Some things never change...

http://www.growthstockwire.com/

My baseline view remains that we are tracing a top in the S&P now.


http://twitter.com/dougkass

Thursday’s Trading – 10/28/2010
October 28th, 2010

Bad News For Bears

http://www.trivisonno.com/

October 28, 2010

UNG : Inverse ?

UNG (Natural Gas ETF) seems to have found support ! The last time UNG has found a similar support was in late March early April 2010 right before the markets peaked ! I would also point out that Nat Gas has become ridiculously cheap !

http://etfstocks.typepad.com/

October 31, 2010SPY : The Bear Strikes Back!

http://etfstocks.typepad.com/

Robo,

Do you have an AutoTracker entry???

Serge is the man.

Originally Posted by Bullitt

Serge is the man.

SPY...

http://www.etf-corner.com/markets/2010/11/spy-ndr-.html