T-bond futures Short-term perspective: The March contract [USH9>USH9] sold off again today after the two-year note auction today was poorly received by investors. Greenspans remarks about the possible need to raiseinterest rates if the economy begins to heat up also added to downside pressure. How
Back to the high end of our 1999 trading range. The
institutions stuck to their usual game plan and came for the techs, drugs, and specialty
retailers again–it’s the only
way they can hope to keep up with the S&P 500. At least it makes stock selection easy, as
evidenced by the multi-point moves in many of yesterday’s names.
We established a new market axiom yesterday to go
with two “tried-and-trues:” First, if you buy tech stocks, buy puts. Second, you don’t buy
airlines, you rent them. Third (our new one), when Greenspan speaks, buy straddles.
Last Thursday I was waiting for a CVR I buy signal to trigger.
Yesterday was the classic trend day of 1999:
Never more than a six-bar pullback (on a five-minute chart) before moving to new intraday highs
in the S&P 500 cash index.
Genetic research has created a new frontier of medical treatments as well as a new crop of biotechnology firms with enormous profit potential. We’ll take a look at some of the leading players.
T-bond futures Short-term perspective: The March contract [USH9>USH9] rallied back after two days of losses partly due to a stronger dollar and optimism over Fed Chairman Alan Greenspans testimony tomorrow. We were looking to buy today at the 122 16/32 level but never got thechance. Long-term pers
T-bond futures Short-term perspective: The March contract [USH9>USH9] was little changed today. The Consumer Price Index (CPI) number releasedthis morning eased the markets inflation worries after yesterdaysProducer Price Index (PPI) raised some concerns on that issue. Weve had no trade setups s
The VIX (the Chicago Board Option Exchange’s volatility index) is becoming an increasingly popular indicator in the financial press.
Dell Computer’s sell-off early yesterday pulled
the plug on the rest of the market.
But true to form, Dell managed to rally back to 84 before drifting between 82 and 80. Volume was
big at 56 million (that’s real volume, not double-counted). The drop put Dell down 32 percent in
11 days from the 110 double top, and it of course has company in many of its tech relatives.