OPKO Announces U.S. Launch of RAYALDEE™ http://finance.yahoo.com/news/opko-announces-u-launch-rayaldee-163108780.html
The commodity names are on fire, stocks like FCX and CLF are up huge today and the steel stocks like X and AKS have been on a tear
This constant up is crazy. Next week I need to start getting shorter than I already am. This is going to be tough.
So, I'm bored on Thanksgiving (Happy Thanksgiving all!) and I'm thinking, "How can we figure out what the top of this market is?" I decided to look at a monthly chart going back 15 years. Here is what I'm seeing, and it's pretty much the same for RUT, SPY, Nasdaq and SPX.
might be a slow grind higher like when we made new all time highs earlier this year, so 2300? "TO THE MOON???"
The stock market has been in a trading range for just over 2 years. That trading range could be distribution or re-accumulation, however... It came into that trading range from strength; from an uptrend. Don't fade the trend ! FADE 3. term from the dice-game craps, related to losing. The player rolling the dice must have someone to fade them (i.e. to put up money against the money they are gambling). If you are faded, you have lost. SPY Weekly (midweek on Thanksgiving Day) ....that 2nd LPS (last-point-of-support) practically assures the trading range was re-accumulation:
