Top Advisors Corner

Tim Ord: The Ord Oracle March 8, 2017

SPX Monitoring purposes;  Covered short SPX 1/31/17 at 2278.87 =.09% gain; Short on 1/30/17 at 2280.90
Monitoring purposes GOLD: Sold GDX at 24.33 on 2/22/07 = gain 20.15%; Long GDX on 12/28/16 at 20.25.
Long Term Trend monitor purposes:  Short SPX on 1/13/16 at 1890.28 

 

Last Wednesday volume appears to have been climatic and put a stop to the rally that started in February.  The up gap that was produced last Wednesday has support if tested on lighter volume and the last several days had light volume.  If the gap than holds a rally should ensue to test the previous high.  The previous high (which is the gap day) had high volume and a test of the previous high on lighter volume will imply resistance.  Therefore a short term sell signal could setup of a test of last Wednesday high on lighter volume.  
 

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Alan Newman: Crosscurrents February 28, 2017

Rationales & Targets

British economist John Maynard Keynes coined quite a few memorable phrases in his illustrious career, including “The market can stay irrational longer than you can stay solvent,” the principal reason we have not been willing to short as prices have risen to ridiculous extremes.  Keynes also said, “In the long run, we are all dead,” a quite sensible reason to remain bearish.  Bull markets die and the odds have risen sharply for this one to die and to die a nasty death.  Valuations are so stretched that a 50% collapse in price, as occurred twice before in the last 15 years, is possible.  

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