June 2010 - Steve Cook on Disciplined Investing

Steve blogs about “RED FLAG” events, fast breaking news, market trends and a whole lot more that will influence your thinking. You need to know the news behind the news and Steve will keep you informed and on the right path to making solid, informed and disciplined investment decisions.

Steve Cook on Disciplined Investing

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  • Technically on the edge: fundamentally not as bad as yesterday's pin action suggests

    The Market Technical Whew. I didn’t have to wait long for a move in prices. As you know, I thought that we would have a quiet week as investor’s waited for Friday’s nonfarm payroll number. Wrong again. The indices (DJIA 9870, S&P...
  • Still waiting for a break or a bounce

    The Market Technical The Averages (DJIA 10138, S&P 1074) remain within the boundaries of their current trading range (9830-11257, 1042-1220) though they clearly are in the lower quadrant of that range. This is the third day the indices have closed...
  • Monday Morning Chartology-6/28/10

    The Market Technical Monday Morning Chartology Any challenge to 1042 could be fatal. Gold once again trades above the former highs. But is it in a bubble? http://www.investmentpostcards.com/2010/06/28/picture-du-jour-is-gold-in-a-bubble/?utm_source=feedburner&utm_medium...
  • The Closing Bell-6/26/10

    Statistical Summary Current Economic Forecast 2009 Real Growth in Gross Domestic Product: -1.0 - -2.0% Inflation: 1-2 % Growth in Corporate Profits: 0- -5% 2010 (revised) Real Growth in Gross Domestic Product: +3.0- +4.0% Inflation: 1.5-2.5 % Growth in...
  • Another delayed reaction

    The Market Technical The Averages (DJIA 10152, S&P 1073) closed below the 10210, 1084 support level. Our time and distance discipline argues to wait a couple of days to see if the break is real. I had thought that stocks would bounce at this level;...
  • Waiting for direction

    The Market Technical Despite some volatility, the indices (DJIA 10298, S&P 1092) closed basically unchanged (DJIA +5 points, S&P -3 points) leaving them solidly within their trading range (9830-11257, 1042-1220). Both approached the 10210, 1084...
  • Obama's punk day

    The Market Technical Not a great day in stock land; the Averages (DJIA 10293, S&P 1095), nevertheless, remained within their trading range (9830-11257, 1042-1220). My focus in on the 10210, 1084 support/resistance/support/resistance now support level...
  • The Yuan revaluation: a headfake or a wake up call?

    The Market Technical The indices (DJIA) 10442, S&P 1113) closed down a bit after a very quick opening rally yesterday morning. They remain well within their trading ranges (9830-11257, 1042-1220). Near term resistance exists are 10725, 1149 and support...
  • Monday Morning Chartology-6/21/10

    The Market Technical Monday Morning Chartology The S&P has broken solidly to the upside. Gold may have (time and distance required) broken a double top. This morning’s announcement by the Saudi’s that they had doubled their holding in...
  • The Closing Bell-6/19/10

    Statistical Summary Current Economic Forecast 2009 Real Growth in Gross Domestic Product: -1.0 - -2.0% Inflation: 1-2 % Growth in Corporate Profits: 0- -5% 2010 (revised) Real Growth in Gross Domestic Product: +3.0- +4.0% Inflation: 1.5-2.5 % Growth in...
  • When in doubt, do nothing

    The Market Technical Both indices (DJIA 10434, S&P 1116) were up a bit yesterday, putting them above the down trend off the April 2010 high and the 10210, 1084 support level for the third day. Volume remains weak and breadth hasn’t been much...
  • At last, we are starting to get some clarity

    The Market Technical The indices (DJIA 10409, S&P 1114) took a breather yesterday--the DJIA was up slightly, the S&P down slightly. They remain (for the second day) above their April 2010 to present down trends as well as the 10210, 1084 support...
  • Mr. Market is saying that I'm too negative; but I can't help myself

    The Market Technical Who woulda thunk! The Averages (DJIA 10404, S&P 1115) blew away the old 10210, 1084 support/resistance/support/resistance now support (again) level and the down trend off the April high (10372, 1097) keeping them solidly within...
  • Stay tuned for more excitement from BP

    The Market Technical The indices (DJIA 10190, S&P 1089) couldn’t build on last Thursday and Friday’s performance. While the S&P, nonetheless, was able to hold above the 1084 support/resistance/support now resistance level, the DJIA...
  • Monday Morning Chartology-6/14/10

    The Market Technical Monday Morning Chartology It sure looks like a double bottom to me. Gold stays steady. This looks like a head and shoulders. Economics This Week’s Data Other The latest from John Mauldin (long, but worth the read): http://pragcap...

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