Charting Stocks

Much has been made over the recent stock market rally. The advance from the bottom has, indeed, been historic and has caught many of us by surprise. Though the market was extremely oversold and due for an upward correction, we continue to be  amazed at its strength and longevity.  A closer examination, however, reveals that [...]

What a wild ride these past few weeks have been. Only a month or so ago the Dow Jones Industrial Average traded down to 6,500 amid an onslaught of catastrophic economic news. The market has since rallied 25% from its low with insolvent banks such as Citigroup and Bank of America quadrupling in value. Jim [...]

“Sell in may and walk away” is an old saying on Wall St. The stock market tends to experience periods of relative under and out performance based on seasonality. From 1897-2008, for example, the average return of the DJIA is 4.6% between November to April, while only averaging 2.5% (Almost half) between the months of [...]

Wall Street’s favorite jester has fallen foul of the prophet of doom. A tense feud has broken out between the outspoken tele­vision stock picker Jim Cramer and the notoriously gloomy economist Nouriel Roubini.
Roubini, a New York University professor who famously forecast a dire world recession as far back as 2006, has taken exception to remarks [...]

The stock market will drop as major banks go belly up says Nouriel Roubini, the NYU economist that successfully predicted the current economic collapse. Below is the text from an interview Mr. Roubini gave  today on Bloomberg TV.
U.S. stocks will fall and the government will nationalize more banks as the economy contracts through the end [...]

Much has been made (mostly by the mainstream media) over the recent rally in the Dow Jones Industrial Average. Many of the usual suspects, including those that have been wrong for the past 3 years, have been quick to call a bottom. We, as technicians, tend to pay little attention to CNBC, Fox Business, etc. [...]

News of a leaked memo by Nationalized Citigroup CEO Vikrim Pandit sent the markets soaring 5% today. The memo states that Citi is profitable for the year. We’ll wait and see if Mr. Pandit’s optimism makes its way to the company’s next earnings release. Judging by previous and similar such statements by Citigroup’s CEO, we [...]