Smoking Securities

Half Baked High Finance

Internal Investigation

leave a comment »

A few ratios to discern the state of the market.
My NASDAQ indicator printed a new X today despite today’s fall. Lower volatility is bullish.
The BXM:SPX ratio is banging against the 10sma again, hopefully it will act as resistance and the spread will turn around (bullish).
The continuing fall in Treasury yields is quite discomforting. Either it is fear or a part of some fund strategy that I have yet to understand.
Some suggest that the VIX:VXV is signaling a sell, but I don’t see that quite yet.
Although oil is falling in dollar terms, it has yet to make a new low in gold. I’m cautiously bullish on oil, but not with much confidence.

Mixed messages all around, but I’m still buying the dips. Risks are still very high, and the potential for government currency intervention makes prediction particularly difficult.
Advertisements

Written by chucklesamadeus

December 19, 2008 at 12:53 am

Posted in BPCOMPQ, BXM, Gold, SPX, USD, UST30Y, VIX, VXN, WTIC

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: