I charted daily prices for the past six months on the Dow Jones Industrial Average ($DJIA, $INDU, $DJI) after it closed on Friday, June 10, 2011 at 11,951.91. A couple of weeks ago when I charted the Dow Jones I said to expect support to come in strong for the DJIA after about 10% of…
Month: June 2011
Patience is a Virtue
I’ve been fairly quiet with my account over the past six weeks of market declines. I like to consider it patience more than paralysis by fear. Based on the way I structured my account this year using longer dated options, mostly out of the money I don’t have to chase the markets in either direction….
S&P 500 Chart – June 3, 2011
I charted the S&P 500 index ($SPX) after it finished the week at 1,300.16 on Friday, June 3, 2011, just above the key psychological round 1,300 mark. This week marks the end of the first five week losing streak since July 2008 for the index. Back then it fell almost nine percent in the same span….
End of the Month Summary – May 2011
Last month I started out my summary pointing out that we were going to have a down month soon. I didn’t realize it was going to start on the first day of the month and carry through for four uninterrupted weeks (so far), but it has and could keep going. The weakening fundamentals are in…