The Morning Call--Monday Morning Chartology

The Morning Call

10/1/12

The Market

           

    Technical

       Monday Morning Chartology

            The S&P remains solidly in its two primary trends.  It did close for a second time below the 1442 resistance turned support level on Friday, initiating our time and distance discipline.  That said, 1442 is a minor support level.  The real test rests at 1422.

            GLD continues to trend up.  It is facing a challenge at the 175.5 level---the upper boundary of its intermediate term trading range. 

 

            The VIX continues to trade between the upper boundary of its short term downtrend and the lower boundary of its intermediate term trading range.

            More measures of internal Market strength (short):

            http://www.bespokeinvest.com/thinkbig/2012/9/29/the-sp-500-10-day-ad-line-is-oversold.html

    Fundamental

    

     Investing for Survival

            How to fund a socialist dream (short):

            http://www.zerohedge.com/news/2012-09-30/here-who-gets-taxed-fund-french-fairness-doctrine-socialist-dream

            Where inflation is coming from (medium):

            http://www.zerohedge.com/news/2012-09-30/guest-post-source-high-inflation-government-spending

     News on Stocks in Our Portfolios

 

3M (MMM) acquires Ceradyne (CRDN) for $35 a share in a deal valued at $860M including debt. The company expects the transaction for the advanced ceramics producer to close during Q4.

Economics

   This Week’s Data

   Other

Politics

  Domestic

Student loans: a pictorial

http://www.zerohedge.com/news/2012-09-28/student-loan-bubble-19-simple-charts

And now this---and it ain’t pretty (medium and today’s must read):

http://www.zerohedge.com/news/2012-09-28/next-subprime-crisis-here-over-120-billion-federal-student-loans-default

  International War Against Radical Islam