Tim Knight | TalkMarkets | Page 136
Managing Partner at Tim Knight Organization
Contributor's Links: Slope of Hope Slope+
Tim Knight has been charting and trading since 1987. His first stock trade was, in fact, on October 19, 1987 – the day of the crash – which perhaps goes a long way explaining his disposition toward ...more

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Bit Happens
The plunge in Bitcoin is dramatic and has lost over a quarter of its value since the start of this month.
A Hard Look At The Small Caps
The small caps are up nearly 6% in that brief timespan, but I think it would do us all good to keep the big picture in mind.
Finance Stocks – Lower Highs
It’s hard to believe on a day like this, but keep your perspective.
Irma Bombeck
Damage estimates look to be about four times as big as reality. Not to say that it wasn’t a nasty storm, but the markets are rallying on the NQ up 43 points.
Equities Need To Get On With It
In spite of a quagmire for equities, there has been at least one definitive change this week, and that is the failure of the US dollar against other major currencies. It isn’t anything dramatic, but it’s an important shift.
Acadia Diamond
I want to point out once again the well-formed diamond topping pattern in Acadia Pharmaceutical.
Small Cap Channel Broken
This morning, naturally, we’re getting some fight-back from the bulls, but keep your eye on the longer-term picture.
Bullion Buffoon
Gold has been steadily ascending lately. It had a good 2017 in general, but the North Korea situation has been particularly good to it, prompting me to have that “I should buy gold” feeling.
Oh, Those GPUs….
There are a handful of firms which make GPUs, Nvidia being big of the lot, this chipmaker’s fortune is tied tightly to bitcoin’s.
The Breaks Are Happening
Axis Capital, is representative of the kinds of “breaks” I am seeing take place, which I believe are representative of some broad reversals happening in some sectors.
Under The Line
Today is going decently so far. I’ve got three October put positions (XRT, AMZN, IWM) which are doing decently, and my short equity portfolio is overall showing a profit.
Nothing-Burger, Gangnam Style
One market which is not really caring much about geopolitics but is very much concerned with yet another huge hurricane coming toward the US is crude oil.
SPX: Rumblings
Over the past month, there’s a boring, tedious pattern that seems to be repeating itself.
Initial Reaction
The forex markets are still digesting this jobs news and figuring out what it means for the dollar (and, thus, gold). All the same, the medium-term picture is still quite positive for gold.
Unemployment Lines
Friday morning’s jobs report is a fairly important news event. I’ll be watching the ES most carefully. It has been in a range for a while, and after it broke out, its ultimate peak was precisely the measured move.
Behold The Rulers
You could put a ruler on the screen diagonally, and the price would never dip beneath it. I have selected some stocks to watch: IDA, ATO, NJR, NEE, MTN, GIS and ACN.
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