... breaking and closing above the 2593.32 level on Nasdaq, which is the 50% annual Fib level. This is bullish ammunition for my crony capitalist market buddies. VIX closed at 30.89 and if we see a break of the horizontal support level a little bit below this level, we know a new dynamic has officially been established. All throughout the summer, when the Eurozone crisis was the topic of the season, this was a very key and pivotal secret handshake / market covenant / bubbling cauldron type of level.
I'm looking at Nasdaq as just like the GOLs, it is a risk barometer and usually precedes the other indexes. I've also noticed that Hang Sang and Nikkei have been the followers lately - unless something important happens during the weekend.
+0.33% SBA
+2.79% Roth IRA (BCS and HWD doubled my fun and trading plaisir)
+0.90% DJIA
+0.84% Nasdaq
+0.98% S&P
+0.85% FTSE
Nasdaq wasn't able to outpace its counterparts, which sometimes leads to a pullback the next day. And very eerily, it closed with a % gain that is similar to FTSE. Does it mean that I overpaid for GTE?
Whilst GTE is trading with a P/S and P/B way above 1, it has a lot more cash than debt on its balance sheet and just broke above its 50-day SMA with a spike in volume.
Come on, market buddies - I want to be able to shop Black Friday in full stride!
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