"Retail investors fully embraced this bull market in February, looking past any threat from the sequester crisis in Washington, DC and buying stocks more aggressively than they have in three years, according to a sentiment index from TD Ameritrade." Full story at…
http://www.cnbc.com/id/100518718
Supposedly, this is bullish for the markets, at least according to TD Ameritrade. I don’t know. I think retail investors were late to the party in 2007. It looks like the same pattern to me.
TRADER COMMENT (over the weekend)
"When defensive stocks and energy stocks lead the market, like now...the final top is close…However, this can also be a time of big rallies into the final top, so going margin short is not smart."
"When defensive stocks and energy stocks lead the market, like now...the final top is close…However, this can also be a time of big rallies into the final top, so going margin short is not smart."
BIGGEST MESS
SINCE THE 30's (MarketWatch)
"At 85, (Allan H.) Meltzer's mind is ever-brilliant, but his mood was cloudy. "We're in the biggest mess we've been in since the 1930s," he told me. "We've never had a more problematic future." As America's foremost expert in monetary policy, Meltzer should know. He's the author of the three-volume "A History of the Federal Reserve."...Many in government believe that Fed actions can allow the government to continue indefinitely with deficit spending. History shrieks "no way," and Allan Meltzer is a student of history." Full story at… http://www.marketwatch.com/story/easy-money-will-end-in-tears-allan-meltzer-says-2013-03-01?dist=beforebell
"At 85, (Allan H.) Meltzer's mind is ever-brilliant, but his mood was cloudy. "We're in the biggest mess we've been in since the 1930s," he told me. "We've never had a more problematic future." As America's foremost expert in monetary policy, Meltzer should know. He's the author of the three-volume "A History of the Federal Reserve."...Many in government believe that Fed actions can allow the government to continue indefinitely with deficit spending. History shrieks "no way," and Allan Meltzer is a student of history." Full story at… http://www.marketwatch.com/story/easy-money-will-end-in-tears-allan-meltzer-says-2013-03-01?dist=beforebell
This was
an interesting piece that included a World review (not much hope out there) and
a good bit of discussion regarding The Federal Reserve – Mr. Meltzer is
concerned by its current course.
MARKET RECAP
Monday, the
S&P 500 finished up about 0.5% to 1525 (rounded). VIX was down 9%, to 14.01.
Breadth continues
to deteriorate, but New-highs/new-lows have flattened rather than continuing
down. Perhaps the S&P 500 will get
to my 1545 target after-all. Market internals are flashing “caution”, but they
need to be collapsing before they signal a sell point.
NTSM
Monday, the NTSM analysis remained HOLD at the close.
MY INVESTED POSITION
I took a hedging, short-position Wednesday afternoon, 27 Feb 13, with a
very tight stop. If Tuesday is an up day
– I’ll cover the short.
With longer term funds, my investments remain the same. Based on a BUY signal
7 of 9-days, and more importantly, consecutive closes above the prior high of
1466, I moved into the stock market at 1471 on the S&P 500 on 14 January. I am currently invested in a range of near 50%
invested in stocks.
