Just when I think I am going to have a profitable day/month, the market decided to crap on my parade: AGQ: -1.62 to $62.95 (-2.51%, -2.51% overall)–bought at $64.57 today (as a short-term hold) BAC: -0.14 to $7.97 (-1.73%, 0.25% overall)–bought at $7.95 EWY: 0.94 to $59.87 (1.60%, 2.48% overall)–bought at $58.42 GOOG: -0.14 to [...]

“[There] are known knowns; there are things we know we know. We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns -– there are things we do not know we don’t know.”–former U.S. Secretary of Defense Donald Rumsfeld

If you ever watch the longer-term technicals, you may have noticed the S&P 500′s MACD moved into positive territory in mid-December, and has stayed there ever since. However, I doubt we will get any kind of serious correction today, since it is the last day of the month. The big boys have month-end reports to [...]

There is good economic news this morning, as 4th quarter U.S. GDP got revised upwards to 3.0% growth (it was 2.8% on the first attempt). There is also bad economic news, as the GDP deflator (why do they call it a deflator when it is really more of an inflation gauge?) was up to 0.9%, [...]

BAC: 0.07 to $8.11 (0.87%, 2.01% overall)–bought at $7.95 EWY: 0.55 to $58.94 (0.94%, 0.89% overall)–bought at $58.42 GOOG: 9.08 to $618.39 (1.49%, 6.21% overall)–bought at $582.26 NNVC: -0.01 to $0.70 (-1.41%, -9.09% overall)–bought at $0.77 PALL: 0.00 to $71.24 (0.00%, 0.00% overall)–bought at $71.24 today OVERALL: +0.49%

I am selling my oil position (UCO) in order to move into a different commodity: palladium, or more specifically ETFS Physical Palladium Shares (PALL). Why palladium? From a lot of sources, there are reports that we will be having both platinum and palladium deficits in 2012, due to increasing demand as well as multiple mining [...]

The P&F chart for the S&P 500 has changed, with a new price target of 1700. P&F charts are longer-term charts, so take it for what it’s worth. With the index futures weakening after the durable orders report disappointment, it is easy to expect a down opening. However, look for the pop later. I would [...]

Bloomberg: Durable Goods Orders in U.S. Slump 4%, Most in Three Years http://www.bloomberg.com/news/2012-02-28/durable-goods-orders-in-u-s-drop-4-marking-worst-decline-in-three-years.html The big economic report today: Orders for U.S. durable goods fell in January by the most in three years, led by a slowdown in demand for commercial aircraft and business equipment. Bookings (DGNOCHNG) for goods meant to last at least three years [...]

BAC: 0.17 to $8.05 (2.16%, 1.26% overall)–bought at $7.95 EWY: -0.80 to $58.44 (-1.35%, 0.03% overall)–bought at $58.42 GOOG: -0.59 to $609.31 (-0.10%, 4.65% overall)–bought at $582.26 NNVC: -0.01 to $0.71 (-1.39%, -7.79% overall)–bought at $0.77 UCO: -1.77 to $47.49 (-3.59%, -0.34% overall)–bought at $47.65 OVERALL: +0.09% Sometimes, a little daytrading helps. I should add [...]

Futures are showing a down opening for the markets today. Don’t bet that it will stay that way. If the S&P 500 drops below 1344, the 20 day moving average, then I will worry. But there is nothing to push the markets down today. In fact, with oil dropping, it shows this is a dollar-strengthening [...]