This is a 22 year chart of $SPY trading live via FreeStockCharts.com with trend lines. Where will the next correction take place and/or at what level will SPYs valuation be priced in? We are hitting the downtrend from the October 2007 peak. The chart view is monthly and I included the 50 month moving average, MACD, RSI and Chaikin Money Flow.
Saturday, December 26, 2009
Janet Tavakoli: Clawback Subsidized GS Bonuses For Selling Hot Air!
Lets see if Tavakoli can actually make something happen here. She was recently on FoxBusiness and wrote an article at Huffington Post about how Goldman Sachs is getting tax payer subsidized bonuses for slinging value destroying hot air and Treasury bail out cover-ups. DV wrote a post on Tavakoli in October when she was interviewed by Max Keiser and provided links to articles she was quoted in dating back to 2005. Also read the ongoing battle between the NYT and Goldman Sachs. Who will win the financial rap battle.
Goldman Sachs Responds to The New York Times on Synthetic Collateralized Debt Obligations (goldmansachs.com)
VS.
Banks Bundled Bad Debt, Bet Against It and Won (New York Times)
Goldman Sachs Responds to The New York Times on Synthetic Collateralized Debt Obligations (goldmansachs.com)
VS.
Banks Bundled Bad Debt, Bet Against It and Won (New York Times)
Friday, December 25, 2009
Peter Schiff Offers to Testify About Cause of Financial Crisis, But Not on List
Peter Schiff put out a youtube video tonight (1st below) entitled "A Nightmare before Christmas". He brought up the health care bill, debt ceiling raise ($12.4 Trillion) and news on Treasury's aid cap for Fannie and Freddie. That is decent news right there. Schiff also said Congress didn't invite him to testify about the financial crisis (Dimon, Blankfein, Mack Among First to Testify at Crisis Panel). It's funny that Schiff was the only one on CNBC in 2006 warning about the financial collapse. Maybe Goldman Sachs should have done the same. Merry Chistmakahwanza!
"The simultaneous selling of securities to customers and shorting them because they believed they were going to default is the most cynical use of credit information that I have ever seen,” said Sylvain R. Raynes, an expert in structured finance at R & R Consulting in New York. (must read NY Times article: Banks Bundled Bad Debt, Bet Against It and Won, 12/23/2009)
Monday, December 21, 2009
SPY, DIA, QQQQ Downtrends, Thin Air and Ascending Triangles! (12/20/09)
As previously mentioned, the Dow and S&P are testing their downtrend from the 2007 peak. Here's a look at market ETFs before Monday's open. First I'm going to present the 3 year view and then the 3 month view. All of the charts are from stockcharts.com.
$SPY mirrors the S&P and is testing the downtrend from 2007. Also July 2008 ceiling resistance is a few points higher.
$SPY mirrors the S&P and is testing the downtrend from 2007. Also July 2008 ceiling resistance is a few points higher.
$SPY
Sunday, December 20, 2009
Official Floored Trailer Is Out, Looks Good
Floored looks good. It's an inside look at the trading floor and the transition to computerized trading. Go to the site for more information.
