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No Gold, No Market, No Candlesticks
Investors and traders have long been accustomed to the convenience of price charts of stocks, Indexes, and commodities. Today, in computer display if not yet generally in commercially-available printed charts, the Japanese Candlestick format of price presentation reveals much more information than old-style bar charts, especially in connection with the mass psychology which underlies price moves. Stock prices, of course, are available for display in this mode. So are Forex charts and those of the commodities, as well – including the charts of Gold.
The charts are so familiar to us by now that they give us comfort. They are a…
22Sep2008 | William Kurtz | Comments Off | ContinuedThe Treasury Proposes More Alphabet Agencies
While the Treasury Department’s proposals for overhauling regulatory oversight of the financial industry have been in preparation almost since the day Secretary Paulson assumed office, their release at this time almost certainly is a reflection of the realities and massive concerns which have arisen resulting from the near-collapse of Bear Stearns.
As its guiding principle in preparation of the proposals, Treasury states that it “has developed each and every recommendation in this report in the spirit of promoting market stability and consumer protection.â€
The short-term recommendations contained within the proposals seem likely to receive immediate consideration by Congress. The intermediate-term and longer-term…
31Mar2008 | William Kurtz | Comments Off | ContinuedThe Bear’s Death Spiral Began in Early 2007
It didn’t happen overnight. Actually, it was a long time coming. The infection took hold in January 2007, over a year ago; but if anyone recognized the signals then, it wasn’t widely broadcast.
The clues had nothing to do with “fundamentals.” It might very well be that the fundamentals of Bear Stearns’ business in early 2007 were solid and that the future looked bright. But quite apart from the fundamentals, the charts of Bear’s stock prices told a very negative story when viewed from the standpoint of Japanese Candlesticks technical analysis.
We know that the Candlesticks display stock prices in a pictorial…
24Mar2008 | William Kurtz | 1 comment | ContinuedRicochet Romance
The Dow Industrials Index bounced hard off its January 22 low. The price bar of the Industrials’ Daily chart for that day shows a picture-perfect very large “Hammer†at the end of a long decline, which foretold a reversal of trend and a rise in prices. It was confirmed the next day by a tall white bar sporting a very long lower shadow, or tail. Three bars together, as a group – the Hammer, the black bar which preceded it, and the tall white bar which followed it – were a variation on a “Morning Star,†which is a bullish…
17Feb2008 | William Kurtz | Comments Off | ContinuedGold: What if we had an Inflation Party, but Nobody Came?
Conventional wisdom (or is it a firmly-rooted popular misconception?) holds that Gold is the ultimate inflation hedge. Today’s consumer is convinced that inflation is here, because he winces at the gasoline pump and his wife tells him that food prices are increasing steadily. (Well, certainly the prices of any food products which contain corn are going up, because of the demand for tax-subsidized corn as a result of the demand for tax-subsidized ethanol, so we effectively pay for the food more than once at the checkout counter and poor farmers overseas can’t compete – and therefore they are rendered poorer…
7Feb2008 | William Kurtz | Comments Off | Continued
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