It is said that nothing is certain except death and taxes- however, if the country has an ineffective administration and Congress, the latter deadline can be postponed indefinitely. Taxes, spending cuts, and debt ceilings are a bottle kicked down the road until the road ends.
With only a few hours left in 2012, trying to invest or trade stocks at the cliff edge is futile, whether Fundamental or Technical analysis is employed. Even sentiment has been swinging back and forth - for the Indicators, please see my blog at: www.mktsentiment.blogspot.com .
Last week was quite rare in that the Santa Claus rally did not come down the chimney - almost every year, the last 3 days of December end on a high note (or at least a top could be seen in January). Since the last week in November, the S&P 500 only bounced up once, just prior to Christmas. Volume was low, yet still speculative; the advance/declines on the NYSE swung mightily from over 1,000 to down 1,500 week over week. Insider selling was also light, but one-sided in favor of sellers - year end tax avoidance/ profit taking. ( The average hedge fund in 2012 returned @1%).
Money flowed into MMFunds from a minus $9B to a positive $28B. Bullish for the market were two excellent indicators: the McClellan Oscillator near -50, and the CBOE put/call ratio up to 68. Multi-year highs and lows can be found at "Older Posts" in the blog.
For traders especially interested in options and technical analysis, below is an opportunity to get educated, especially for those living down the peninsula.
Trading Options for ProfitS
Saturday, Jan 12, 2013 doors open at 9:00AM
0900 Registration, coffee & pastries
0930 Presentation by Steve Bigalow
1200 Lunch (included)
1300 Presentation by Steve Bigalow
Cost $30 if prepaid (or $40 cash at the door)
375 North Pastoria Avenue
Sunnyvale, CA 94085
Stephen W. Bigalow
1) The 12 Major Candlestick Patterns
2) Power Strategies Quantified
If you plan on attending please RSVP to OVUG@HelpOne.com
We all have our favorite indicators, but in the final analysis price action is what really matters. So, wouldn’t it make sense to actually be able to read a price chart? Our speaker this month is an expert at doing just that. He is the renowned author Steve Bigelow of the Candlestick Forum. Steve will show you how to read the price action with Candlestick Analysis. Come to this meeting and learn how to find an ample supply of signals for big moves before they occur using the patterns he will show you.
Learning The 12 Major Candlestick Patterns will create the ground work for successful Candlestick Analysis -- major, in the sense that they occur in price movements often enough to produce a ready supply of profitable trades. This is the core of candlestick analysis and each of these signals is explained in detail.
After 30 years of working with candlestick signals, Steve Bigalow has selected a quantitative list of which signals and patterns work the best. Discover the 8 Bullish Power Strategies that consistently find big price moves and 6 of the most powerful trading patterns you can use for both long and short trades. Each works just as well on a 1 minute chart as they do on daily and monthly charts, making them ideal for both day-trading and/or long-term positions.
You need to register --
TOPS is a self-funded group of "traders helping traders" and needs your donations to support its efforts. The minimum donation for this event is $30 ($40 if paid at the door) which includes coffee & pastries and your lunch. I need to hear from you right away so I can inform the staff at the Elks Lodge how many people to plan for. After you send your RSVP, I will reply with payment instructions. Be aware, some of your spam filters are working overtime -- so, if you have not received the payment instructions in reply to your RSVP within 24 hrs, please let me know immediately. IF YOU HAVE ALREADY RECEIVED THE PAYMENT INSTRUCTIONS, YOU DO NOT NEED TO RSVP AGAIN.
If you wish to attend this meeting,
please RSVP to firstname.lastname@example.org