The Morning Call
12/7/15
The
Market
Technical
Monday Morning Chartology
Stocks
had a wild ride last week. In the end
little changed technically speaking, though you will note that the S&P is
still forming a series of lower highs,
Bonds,
typically a safe haven from volatility, weren’t spared in last Thursday and
Friday’s yo yo formation. As I noted, it
was largely a function of a huge long dollar/long bond trade expecting a
dramatic easing by the ECB which didn’t happen on Thursday but was walked back
on Friday.
Gold
roared on Friday, for what reason I don’t know.
Its chart remains sickly with almost no redeeming features outside of
Friday’s pop. Lots more work to be done.
The
volatility of last Thursday’s and Friday’s pin action is apparent. The challenge of the VIX’s upper boundary of
its short term downtrend was short lived.
In the 12-13 level, I continue to believe that it represents attractively
priced portfolio insurance.
Fundamental
Investing for Survival
Sticking
with your asset allocation:
News on Stocks in Our Portfolios
Economics
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Other
Politics
Domestic
International War Against Radical
Islam
Tensions
escalate in Syria (medium):
And Iraq (medium):
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