Carl Christie has traded equities for close to half a century. Thirty-seven of those years were spent on the Toronto Stock Exchange trading floor as a market maker and professional trader. As the Chairman of the Professional Traders Association from it’s inception in 1987 until the TSX trading floor closure in 1997, he represented the trading floor by sitting on numerous TSX standing committees and trading rules committees. Since 1997 Mr. Christie has consulted with publicly traded companies in both an Investor Relations capacity and as a stock trading analyst.
Week of the BEAR
From February 5 of this year until April 26, the DOW [DJIA] rose from 9,835 to 11,258, an astonishing 1,423 point increase. Over the past few weeks market gurus and experts have debated constantly about how and when we would see a market correction. Most thought we would experience a small retracing of the gains [...]
Wednesday’s Close: May 5, 2010
Overseas negativity continued to depress the U.S. equities market today. Riots in Athens left at least three dead as citizens protested their government’s new, bailout-mandated austerity measures. Ratings agency Moody’s also heightened anxiety by warning that it may downgrade Portugal’s government bonds. Fortunately,positive employment data was a plus particularly ahead of Friday’s nonfarm payrolls report [...]
DARK TUESDAY: May 4, 2010
Monday’s optimism about a bailout package for Greece reversed today, with investors growing concerned about a potential domino effect in the euro zone with fears of Spain and Portugal following Greeces lead. The CBOE Market Volatility Index (VIIX] skyrocketed more than 18% as the Street’s panic escalated. The major market indexes all traded off [...]
Copper and S&P 500
In the past few months Copper has shown itself to be a leading indicator of the direction of the S&P 500. I am uncertain as to the reason for this correlation but realize the Copper/S&P 500 relationship is important to consider when attempting to predict market movement. The charts show that Copper bottomed in late [...]
MARKET DIRECTION:
A week ago I stated that despite the worries over Greece and Goldman and that the market rally appeared to be weakening, volatility and the re-emergence of buyers after down days was still bolstering the markets.
The question remains: how and when this rally phase will end. Those concerns remain intact today and [...]
This Week’s ECONOMIC CALENDAR: May 3, 2010
Monday
* Personal income and spending in March,
* Construction spending for March,
* Institute for Supply Management (ISM) Index for April.
* Auto and truck sales reports for April.
* The Clorox Co. (CLX),
* [...]
GUT INSTINCT:
Would it not be great if every stock we traded performed as this one, steadily rising on a 45 degree angle with only minor retracings? Ah the comfort of an efficient stock. However I have never seen one this good.
Despite all the advances in computers over the last 50 years, no computer [...]
