Scott Redler of T3Live.com The INTRADAY ACTION SUCKS! Gap ups with no intraday follow-through is not fun for the active trader. Last Thursday we were down 175 on the Dow and closed down only 100ish. Yesterday we were up 175 in the first 20 minutes and proceeded to close well off the day’s high. There’s not much we can do about the action...

Chart guru Robert Prechter was on Fast Money this evening, reiterating his comments about extreme declines. He states that bullishness has gone from 2% to 90% (though we’re not sure where that comes from), and that volume and breadth are down. Interestingly, when he was asked about gold, he demurred and said he was “very, very bullish”...

Zero Hedge In the ongoing US bizarro economy, up is down, and economic weakness represents itself by an increase in the stock market, due to expectations of future liquidity injections and fiscal stimuli, further weakening the dollar. Yet as sovereign CDS has recently taken on more relevance once again, we present the relationship between U.S. 5 year...

CalculatedRisk From the BEA: Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 2.8 percent in the third quarter of 2009, (that is, from the second quarter to the third quarter), according to the “second” estimate released...

An interview with Marin Katusa, Casey Research In the past three years, Marin Katusa, senior energy analyst at Casey Research, has become one of the most respected and listened-to authorities in the investment advisory business. He spends the bulk of his time on airplanes and in far-off places studying the future of energy… and the best ways...

Evan Lazarus of T3Live.com The market’s choppiness of late has frustrated many traders. Often the divergences we are witnessing occur at key inflection points for the stock market. At present, we are battling with multiple technical resistance points–the long-term downtrend line, and the confluence of the 50% price retracement level and...

Joe Weisenthal of Green Sheet In the bank’s latest edition of its Monday Mining Minutes, Citi lays out a scenario which it calls the “Nightmare on Commodity Street.” (via FT Energy Source) So here’s the nightmare scenario, which we hope will not happen: Thousands of very smart speculators have accumulated the biggest ever speculative...

Elliott Wave International has just released a free 42-Page eBook, How You Can Identify Turning Points Using Fibonacci. Created from the $129 two-volume set of the same name, it’s available free until November 30, 2009. Learn more. You may be missing trading opportunities staring you in the face....

MISH John Hussman is always a good read. A week after it came out, I am catching up on reading reading “Should Come as No Shock to Anyone”. Hussman is about as level-headed as they come, so it was interesting to see him accuse the Fed and Geithner of “Unconstitutional Abuse of Power”. Here is the pertinent snip: There is most...

Zero Hedge A picture is worth a thousand Krugman essays, which is why we present a chart comparing the US Monetary Base (and by subtracting Reserve Balances with Fed Reserve Banks, Currency in Circulation), and the Fed’s holdings of MBS and Agency paper (worthless GSE/FHA garbage). In summary: Currency in Circulation: $920 billion; MBS/Agency...

Brandon Rowley of T3Live.com For much of 2009, the big story has been the dollar’s weakness. The dollar index put in a significant top for the year in March coinciding with the bottom in the equity markets. It has been dollar down and equities up ever since with the DXY down 16% and the S&P 500 up 66% from the early March turning point. In...

Today we’re looking at the dollar index and some important elements that I see building in this market and want to bring to your attention. In this short video Adam outlines the key areas to watch for and one important component that you may not have seen. He thinks this factor could, in fact, be a short term game changer for this market. Click the...

Joe Weisenthal of Money Game In his latest later, Raymond James strategist Jeff Saut argues that even if there is something like a bubble in stocks, everyone has to keep buying into it, or else they lose their jobs. Thus, the trend remains your friend. Nevertheless, we think the upside should continue to be driven by “game theory,” which suggests...

CalculatedRisk Here is another way to look at existing homes sales: Monthly, Not Seasonally Adjusted (NSA): This graph shows NSA monthly existing home sales for 2005 through 2009. For the fifth consecutive month, sales were higher in 2009 than in 2008. And for the second straight month, sales in 2009 were higher than in 2007 (two years ago). Of course...

T3Live.com Blog In this morning’s post, we mentioned that BAC would be worth accumulating at this point, after it held up particularly well during the market’s sell off last week. A move through the $16.40-$16.60 area would trigger an additional buy, and opens up the potential for a move to the $18 gap fill area. Take a look at the chart...