Tom Hougaard
Tom Hougaard
calling far met rally regular selling session stuck trading week
The U.S. (market) is still stuck in a rut. We are calling the Dow up on the day, but so far every rally in the pre-market this week has been met with selling once the regular trading session got under way,
bears cause covering doubt fueled orleans rally recent short thinking wall
There is no doubt that the recent rally is fueled by a lot of short covering from bears thinking the New Orleans debacle would cause jitters on Wall Street.
autumn betting bullish clearly expect fire market rally reason sentiment themselves traders
The market is on fire and with sentiment so bullish there is every reason to expect more upside, ... There are clearly many traders who are betting on an autumn rally to take the Dow to 10,000, and they positioned themselves in the market yesterday.
above bears below bullish bulls case clearly lead level limbo market move playing purely rally traders trading
The market is clearly in a limbo with the bulls and the bears all squared up. The Dow is bullish above 9,600 and a move above this level could lead to a rally to 9,750. The bearish case is a move below 9,525, which would lead the indices into the long-awaited correction. Anything in between is a purely traders playing the trading range.
caught deeply face goes markets players slide time
The slide in the Nikkei just goes to show how deeply overbought these markets are. Players have been caught up in the euphoria. Now it's time to face reality.
ahead bit boost bounce days funds key last market monday money names numbers relief surprise throw today
We could see a little bit of a relief bounce if the (economic) numbers are good. Also, today and Monday are the last days of the month, so it wouldn't surprise me if some funds throw a little bit of money at the market to boost some key names ahead of the 31st of October.
european goes happens holidays market quiet range trades
As it often happens on market holidays in the U.S., the European market goes very quiet and trades in a range all day.
currently expecting night obviously red relentless sea selling
We are obviously expecting to a see a sea of red this morning. The selling has been relentless through the night and currently the Dow is being called down about 100 points.
bear climate current dealing economic high indeed looks market prosperous
Valuations are very high for the current economic climate or indeed even a prosperous climate. So it looks like what we are dealing with here is a bear market rally.
change correction euphoria evaluate investors last scheme seen stocks top worries
I feel that we were so long overdue a correction after the euphoria around the New Year. In the big scheme of things the only thing that worries me is that if those investors who use fundamentals to evaluate stocks change their view, then we could have seen a top that will last for some time.
above attempt early general highs looks move near obstacle prices stocks trading volume
Stocks in general have been trading near their highs but volume has been a real obstacle to move prices higher. It may still be early but it looks to me as if we will see an attempt to take Dow above 9,450.
casting european profit shadow somewhat sun warning
The profit warning from Sun Micro is casting somewhat of a shadow over the European markets.
decent flat holding people vulnerable worried
...we are holding the flat line, but we are vulnerable to the downside. A lot of people are getting worried about the market...we are long overdue for a decent correction.
according basis bonds certainty cut greenspan interest percent rate rates
It is a 100 percent certainty according to the U.S. interest rate bonds that Mr. Greenspan will cut rates by 25 basis points.