Friday, October 23, 2009

Slumming and Comparative Resources

The men folk took off for West Virginia for a dirt bike ride with some others. This trip is one that is much anticipated, and they try to go 2 times a year. Last weekend they were rained out. It's just me and my girls. My daughter just stepped out the door for her plans. But earlier, we took a nice walk with the canines. Lovely warm, Indian Summer evening.

Below is a picture of Malcolm Smith (left) and Ken. Malcolm Smith is in his 70's and Ken is likely in his 60's. The picture was from a couple of weekends ago from Hatfield and McCoy, where these men are still enjoying this sport called dirt bike riding.

malcolmandme

Malcolm is considered the father of dirt bike riding. It's a terrific picture of two men passionate about this sport and still engaged in it.

I'm going to make some good use of my time away from having to take care of the needs of others and get some stuff down around the house.

I'm going to spend a quite evening looking at charts. We are bumping into resistance...here's a previously shared chart.

spy_1021

There's a picture in my head that we could carve out a whomping big "W" bottom which would fit well with a gnashing and thrashing economic scenario. I wonder if we will have 1 more push up...a last gasp so to speak, or if we've already had it. Perhaps MarkM's model will tell us?

I'm pretty much of the mind that either direction would not surprise me.

Glenn asks about a quick way to see changes in sectors from week to week. One way to do this would be to use this view of the PerfCharts on Stockcharts (click on graphic to be transported).

perfcharts_Bar

Also, Finviz offers a nice graphic (click to be transported)

finviz_groups_102309

And finally, one can go to the Market Data page in the WSJ


These are my typical go-to sources to get the broader feel of the market.

7 comments:

Chris Lovell said...

Hi Leisa,

Is the $SPX chart with the horizontal volume bars a free service from Stockcharts.com or the paid version? I signed up with Market Delta, but it costs too much $$$. I like the sector performance pages you listed, good one stop shopping!

By the way, this is Biffermas, my real name is Chris Lovell.

Thanks, Leisa!

angrywetcat said...

He Leisa, angrywetcat here.

Just wanted to stop by and say hello!

Looking forward to cruising around here and seeing what you put up. I should tell you my real name. It's Brad Sneed.

Enjoy your weekend!

Leisa said...

Hey Chris...I renamed you Bifferific on Toshi's blog. I LOVE the Fat Boy Slim video with Chris Walken. I've listened to it an embarrasing amount of times! Thanks for stopping in and leaving a post.

I've been a Stockcharts member for a few years. I'll do some recon and see what is/is not available.

Hi Brad! Thanks for stopping by and posting.

Glenn_in_MA said...

Thank you Leisa for pointing me and others to those links...they are all great resources for sector/industry performance data.

I like the histogram view on the PerfChart.

I think you may be right about the "W" formation, but like you say, neither up or down would be a surprise.

Anonymous said...

Hi L. My model, eh? :)

Just need to watch the internals on any pullback here. Market was WAY overbought on a ST and intermediate term basis so we have the CAPACITY for a nice, big pullback maybe to the 900 level. That gap from last September was finally filled and for a technically driven market that was huge.

Watch what the advance decline line does. Watch the new lows. Etc. Is the pullback orderly or messy? If it gets messy with lots of bad action underneath, then we go to 900ish. If it's orderly, then we can base and pop this into year end and Abby Joseph Cohen gets her day in the sun (1200 on the Spoos).

Watch for basing action around the bottom of the channel. Usual pattern is then a blast above it sending the programs off to the races. That pattern needs to change to have a meaningful decline. Otherwise it's just garden variety profit-taking and re-accumulation for the next leg up. (If little ol' me is seeing this then it's time for the bulls to switch playbooks, perhaps with mid-channel switch or better yet from 5% or so below the channel.That would REALLY cream the shorts.)

Hedgies and program traders have been driving this market and they already have their number for the year so this is a dangerous time.

MarkM

Anonymous said...

Hi Leisa - Sleepless here: I owe you a response to an email exchange we had several wks ago. Somehow, I have archived about 3 wks of Inbox to an unknown location, your's among them. My apologies!

Noodling on MarkM's comment... since the market lows were just 7 months ago, I don't think that watching $NYLOW (or similar) on Stockcharts will flash any signal when this turns, nor $NYHL. I'm pretty sure they run off the most recent 52 weeks.
$NYAD (adv-decl) can assist, as he states (or $NAAD, $AMAD)
I've been a 2nd string player in this rebound; not fully in the game. I'm heading for the locker room now, and might leave the stadium. I do not like the market action here, and even the usual "stories" are rather weak this time around ("inventory re-building"? "money on the sidelines"?) It is an echo from Maria B circa 2002.

BTW, haven't heard a reference to Hussman here lately - he's had especially good write-ups in his monday posts these past few wks. I think you'd enjoy the 10/12 posting.

~ Sleepless

Leisa said...

Sleepless~~~

You will not imagine how strangely prescient your comment--largely because my post that is still in draft mode addressed these points (to include MarkM's noodle!--hmm...that sounds odd!)