Comment:As co-managers of SpikeTrade.com, Alex and I like to select our favorite picks from among those submitted by Spikers and trade them in the week that follows. Please keep in mind that we may trade this pick in a different way from the Spiker who recommended it. Please remember that we, along with Spikers and Spectators who post their picks, are not running an advisory service – we share with you our thinking processes. You are responsible for your own picks, and you must always use good money management.In addition to a Spike pick, we may use this email to share our research into the markets with you and include additional charts in our comments.
Grant C muses on the next big thng in the markets… The pic below is from his Spike Reunion presentation last month in Quebec: if you hunt rabbits, hunt the big ones!alex
It is widely reported that the fabled investor had bought into GE.
The dollar will likely have some legs as the global economy slows. A stronger dollar will put pressure on the commodity plays. Most have come down hard of late. MOS was down 41% today. Since June it has fallen from 163 to 39. OUCH!!
Current market action reminds me of a conversation with with my late friend Ralph Cato some 10 years ago. Ralph was a trader, a financial journalist, and a student of the markets. Ralph told me once that his research showed "Buy on Rosh Hashana, sell on Yom Kippur, and have the money to buy presents for Christmas." May I remind you that Rosh Hashane began yesterday? A bounce is due!
Sentimentrader.com posted some data when the DOW plunges 7% or more to a new 52-week low in a day and what is the typical outcome. This has occured 9 times since 1899.The average gain over the month is 5.5%