December 31st, 2009

Today is the last trading day of 2009.

The market gapped up and very quickly closed the morning gap.

For the bears, we need SPY to close below 112 and QQQQ below 46 level.

December 30th, 2009

The market gapped down. In the first 30 minutes, it closed the gap. It seems like the market will make lower high and lower low from yesterday. The gold stocks and spot gold are continue to settle down around this area (GLD between 105 to 107ish).

December 29th, 2009

After today, there will be 2 more trading days in 2009. So far the market have been slowly climb up in low volume. I am watching gold stocks and spot gold closely for a bounce back up.

December 28th, 2009

The analysts are having a mixed reviews about the the market. Some mentioned that the market is going higher. Others said the market is due for the pullback. I am watching for gold stocks and spot gold closely for entering position.

December 24th, 2009

Are we experiencing Santa rally? If we are, the market is going up in light volume.

I have to say about this year market. The market had volatile move down at the beginning of the year till March. Then the market turned to the upside till November. After that the market traded in a tight narrow range. The market had experienced in the bull and the bear mode.

December 23rd, 2009

Now it seems the gold stocks and spot gold had found a support level here. Watch the dollar currency to do some minor pullback.

December 22nd, 2009

Another gap up this morning. GLD is about to hit 105 area soon. It did dropped down to low 106.

December 21st, 2009

I'm back. What a big snow storm that I had in New Jersey.
The SPY and QQQQ are breaking new 52 week high, yet the gold stocks and spots are continue to go down.

December 17th, 2009

The market gapped down this morning. Gold stocks took a big drop because of rising dollars.

December 16th, 2009

Another gap up in the morning. Are we in the verge of breaking out? Gold stocks are rebounding too.

December 15th, 2009

Sorry for the late post. I had a long meeting this morning that I couldn't get out of it.

Yesterday SPY closed where it is opened. The market looks very toppy here.

December 14th, 2009

Listen up!

I took a closer look at the stock market this past weekend. The market had been trading in a tight range in the last 3 weeks. The SPY had traded between 108 to 112 range. It means that the bulls and the bears are fighting it out. There were some profit takings and shorts got squeezed during that time. Right now the market is consolidating. The market had retraced back up to 50% from the low of March. If the market either breakout and breakdown from the tight range, the move will be huge. Right now the market is in a quiet mode, calm before the big storm.

December 11th, 2009

The GLD is continuing its descend. SPY is now back where between 111.00 and 111.50 range.

December 10th, 2009

Another gap up from this morning. This gap up morning close the gap from previous days. I believe this morning gap up will favor the bears.

December 9th, 2009

Again the SPY is bouncing off from the 109 area. If it breaks 109 area, next stop will be 108 area. The the final stop is at 106.5 area.

December 8th, 2009

The market gapped down from the morning. SPY is bouncing off from the support level at low 109.

Here is the game plan.

1. I still believe SPY will hit 106.50 area again.
2. Now I also believe that SPY will make NEW 52 week high in the horizon.

What can we do about it?

SPY will hit 106.50 first before SPY will make new 52 week high. By the the time SPY hit 106.50, the spot gold will hit the support level (GLD at 105 area).

December 7th, 2009

The spot gold is continuing its pullback. It had dropped more than 80 points in a couple days. The gold stocks are pulling back too.

December 4th, 2009

The market gapped up to the high due to the job report. Another gap is created from this morning.
Could this be another false breakout? The spot gold is dropping a lots today.

December 3rd, 2009

Another false breakout. My SPY target is at 106.5.

December 2nd, 2009

The market is deciding which direction to go. Is it going to breakout or breakdown from here?

December 1st, 2009

Like I said yesterday post, the market could opened higher this morning. SPY almost filled the morning gap from Friday. Now there is a gap from this morning.

November 30th, 2009

Thanksgiving is over.

What happened on Friday action!

The bull side perspective:
1. SPY opened at the low and closed higher. It formed a white bar.
2. SPY opened at the 108 support level.
3. There is a morning gap to be fill on Friday.

The bear side perspective:
1. SPY make lower low and lower high than last Wednesday.
2. SPY crossed below the 13 day moving average.

Where does the market go from here?
The SPY bounced off from 108, a good support level. First SPY needs to fill the morning gap from Friday. Secondly, we have to see how it closes the gap. Finally, if SPY bounces off from the morning gap and decides to go back down and below 108 level, then the market is going down. If SPY breaks above the Friday morning gap and closes higher than that, the market is going much higher.

November 25th, 2009

Again watch the dollar currency at 75. Watch the VIX closely as well. The stock market is continuing to remain above the 13 day moving average and 13 day moving average is still going up.

November 24th, 2009

The market is trying to close the morning gap from yesterday. As yesterday close, SPY failed to close above 111.00.

November 23rd, 2009

Ok. The market gapped up this morning. It filled the gap from last week drop. But now the market had a gap from this morning.

November 20th, 2009

SPY had trouble breaking above 109.75. If it does, it will go back up to fill the yesterday morning gap. If SPY breaks below 109, it is going back down to 108.

November 19th, 2009

Two things to watch out for today. On the downside, watch SPY at 110.50. If SPY breaks 110.50, then it could go down to 109.5 level. On the upside, watch the market how it closes the morning gap.

November 18th, 2009

The market will probably open flat. Yesterday action the market make lower high, but higher low. There are still two gaps to fill below.

November 17th, 2009

Today I am looking for lower high and lower low from yesterday. Also I am looking to fill the morning gap from yesterday.

November 16th, 2009

The market will gap up at the opening. Watch how it closes the morning gap. Also watch how it closes today. If QQQQ closes above 43.80 and SPY closes above 110 area, it might be time to go long.

November 13th, 2009

Today is the Friday 13th.

Sorry for the delay. It is work related that I couldn't post it in the morning.

November 12th, 2009

In order for the market to reverse back down, it is important that it needs to make lower high and lower low from yesterday and it needs to close below yesterday low. I am expecting SPY will hit 108 again this week or next week.

November 11th, 2009

The market will gap up this morning. I will be the first one to say that this gap up will favor the bears in the next 1 to 5 days. This is a sign of topping out.

November 10th, 2009

I don't really know what to make yesterday action. It is a trap for longs or a short squeeze for shorts. In 2 out of 3 trading days the market make closing over 200 points move. Eventually, I believe the market will make 300, 400 and even 500 points move. It usually traded in a closing narrow range in the past months or so. Don't be surprise of a big move in the future.

November 9th, 2009

This is what I expected from Friday to open higher on Monday. SPY had hit my last target at 108.

November 6th, 2009

The market will open down. It means that SPY will gap down below 106.50. Again watch SPY closely about closing the morning gap.

November 5th, 2009

The premarket action is pointing up. It will probably open where its broke down yesterday in the afternoon. It seems like 106.50 is a very resistance for SPY.

November 4th , 2009

Sorry for the delay. I have a big long meeting this morning and I couldn't get out.

The first target of SPY had been hit at 105. 106.5 is next.

November 3rd, 2009

The morning gap down favor the longs. It opened at the almost low as yesterday. It means it had a support there. There are 3 targets for SPY for the upside.

1st target = 105.
2nd target = 106.5
3rd target = 108

November 2nd, 2009

It is slightly up in the premarket. There is no gaps between the current price and 110.30 for SPY.
There are still some gaps to fill below. For a shorter term, if SPY breaks below 102, it can go to 94 to 95 area which is 7 or 8 points from here. If you add 7 or 8 points from 102, SPY is at 109 to 110.
It moves 7 or 8 points trend.

October 30th, 2009

The premarket action is pointing down. I guess the 106.50 is the resistance level for SPY. If SPY breaks above that resistance, it could go back up 108 to 108.50 area. Nowadays the market is making a big swing back and forth and closing more than 80 points or more. So the volatility will be there.

October 29th, 2009

Today is my birthday.

Ok. The premarket action is pointing up. Yesterday SPY had hit the low 104. There will be a gap up this morning. Is the SPY bouncing off from 104 and heading back up to 108 or will it close the morning gap.

October 28th, 2009

The market will gap down a little at the opening. The SPY can drop down to 104 area to complete the head and bounce back up to 108 for right shoulder. Watch the SPY at the 50 day moving average.

October 27th, 2009

SPY had an unfinished business on the uptrend to 108.50 and downtrend to 104ish area. It might go back up to 108.50 and then it could drop back down to 104ish or it could continue to go down from to 104ish and then it could bounce back up to 108.50. BIDU is dropping more than 80 points in premarket. Watch GLD at 100 level closely to see how its action plays out.

October 26th, 2009

The market is slightly up in the premarket. The SPY could be in a trading range between 108 and 110. If SPY breaks either way, go with that direction.

October 23rd, 2009

SPY will probably open around 109.9 to 110 area. QQQQ jumped a lots due to AMZN earning from last night. AMZN shop up too. Spot gold moved up last night.

October 22nd, 2009

Yesterday action seemed very negative. But I believe the market is not ready to go down yet. SPY held the support level at 108 and QQQQ at 43. SPY could be in a trading range between 108 to 110 today and tomorrow. If SPY breaks below 108 and closes below 108, go short in the near term.

October 21th, 2009

The premarket action is pointing down. I am watching very closely on AMD, IBM and GS. These stocks already reported earning. All three of them gap down after the earnings, but these stocks went down to the support level. I thought these stocks are making a false breakout. AMD is bouncing off from high 5, GS hanging around 185 and IBM hanging around 122. If these stocks break these levels, you can expect the market will reverse. On the flip side of coin, the market could continue to go higher.

October 20th, 2009

AAPL shot up to above 200. Yet the SPY didn't move up that much except QQQQ.
Today earnings are YHOO, CAT and SNDK.

October 19th, 2009

The premarket action is pointing up. So it could open gap up and it could try to close the morning gap from Friday. Then it will try to close the morning gap from today. I am seeing more and more false breakouts.

False breakout victims: AMD IBM GS RIMM JNJ
Possible false breakout victims: AAPL, BIDU, EBAY

October 16th, 2009

IBM, GE, BAC and AMD went down after earning. GOOG shot up after its earning. Two days in a row the premarket action gap down. Spot gold is continue to be weak.

October 15th, 2009

GS and C had good earning reports this morning, but their stock prices are down in the premarket.
Also the spot gold is down. I believe that it is just a technical move. GOOG will be report its earning after the market close.

October 14th, 2009

Ok. Could today the market hit 10,000? Could today be the day of "blow off top" or "continuation gap"?

October 13th , 2009

INTC will be giving out earning reports after the market close. Let's see what happens for today action.

October 12th, 2009

The market will probably gap up this morning. If it does, the market has a gap today and two gaps from last week. Today action will probably retest the 52 week high. Watch SPY at 108.06. If SPY closes above 108 with strong white bar, it is time to go long. Same with QQQQ at 43.17. I am expecting some kind of resistance at these levels.

October 9th, 2009

In order to complete the "dead cat bounce", the market needs to close at the medium to large size red bar today. As I write this, the premarket is pointing down. For the bears, if the market will opened gap down and continued to go down from there, then yesterday action was an "island top".
It means that a very strong reversal sign for the downtrend. If the market is trying to close the morning gap, watch very closely how it is closing the gap.

I will be having "all hands" meeting at the my job this morning. I don't know how long it will last.
So I might not be available at all this morning.

October 8th, 2009

The market is probably gap up to the resistance level. This action could possibly complete reversal of this week Monday action. The market was way up during the jobless claims reported. It was almost 100 points gain. Since it was at the resistance level, it had level off a lots. For the bears, we need a close below where its opened today.

October 7th, 2009

The market will probably open flat. Let's see how it goes the first 30 minutes.

October 6th, 2009

Last week, I mentioned that SPY at 104.20 was an intermediate step. Also I mentioned that SPY had a chance to hit 104.90 area again. The QQQQ was the laggard. Maybe QQQQ will hit 41.57.

October 5th, 2009

I am expecting some kind of bounce to reach my targets on QQQQ and SPY this week.

October 2nd, 2009

Sorry for the late post again. I hate early meeting on the job.

The market is at the very support level. The SPY is at the major support level at 102.
Either you can play the morning gap or sit in wait to see what will happen. But be careful about "catching a falling knife". I don't know if you have a chance to read my last post from yesterday about similar pattern first couple trading days on September. The first day of September the market went down hard. The following day it continued to trade in a narrow range just below the yesterday low. Today it could be a very similar pattern. It could be the bottom of SPY to set up for a major runup at the end of the year.

October 1st, 2009

I just came back from the meeting. Sorry for the late morning post. I am expecting SPY will trade in the 105ish area today. If the market opens down, play the gap.

September 30th, 2009

The premarket action is pointing up. It will open gap up. Again, watch for 106.50 area in SPY. It is a very critical point. The defense stocks are continue to go up. Gold stocks are about to rise again.
Now the shipping sectors are about to make a turnaround. I hope that some of you were able to buy X on the dip in the afternoon below my price. That was the bargain. Watch C for a breakout soon.

September 29th, 2009

The premarket action will be just a tad up. The SPY will probably open at 106.5 area. I will be watch that very closely. If SPY continues to go higher, I am closing my short positions.

September 28th, 2009

FYI, right now the equities or stocks, oil and spot gold are in a pullback, not a correction. It seems like all 3 of them are correlated to each other. If I am expecting spot gold to break all-time high on the horizon, then equities and oil will follow. Then U.S. Dollar currency will go down farther. The premarket action is pointing up in the morning. I am expecting to close the morning gap and retest the Friday intraday low. If the market breaks the Friday's low, stay short. Otherwise, if the market bounces of the low or morning gap and heading back up and higher than its opened, it is time to close our short positions.

September 25th, 2009

The market will probably open near the yesterday low. If the market breaks the yesterday low, stay short. Otherwise, it will try to close the morning gap and retrace back up.

September 24th, 2009

I am expecting the market to bounce back up a little from yesterday decline. During the pop I am looking for CLF, AMZN and GOLD to short. The best time to short is to short the pop when it is about to turnover.

September 23rd, 2009

The premarket action is probably flat. Watch for possible breakout on SPY at 107.50 and QQQQ at 42.83.

September 22nd, 2009

The premarket action is almost opposite of yesterday premarket action. Watch for QQQQ. It will probably open at near the 52 week high. If QQQQ breaks out, you can expect most stocks will follow or continue to breakout. I believe SPY will retest 107.50 area.

September 21th, 2009

Good morning all. I will have an early meeting first thing on my job. So I will make the first post for today. As I write this the premarket action is pointing down. There will be a gap down in the morning. Last week I stated that if the market opens 30 to 80 range down or up, it will try to close the morning gap. Unless the action for the first 30 minutes if the market quickly fall over 100 points, then it will close over 100 points. If it ever close the morning gap and reverses back down, good sign for the bears. But if it goes higher after the gap is closed and close positively, the market is still have legs to go higher. This will be very bullish.

September 18th, 2009

I am expecting SPY to hit 107.50 area again. The market rally continues.

September 17th, 2009

Sorry for the late post. Can the market go higher? For the next few days, I am expecting the market to go higher and hit a climax soon. Tomorrow it is option expiration date. It can get little weird in trading.

September 16th, 2009

The premarket action is slightly up. It will probably gap up this morning. Could this be the blow off top for the bulls? In order to convince the end of the uptrend, we need the market to close in negative and at the yesterday low. Just be careful. It will try to close the morning gap and it could bounce off from there and go higher.

September 15th, 2009

The premarket action is slightly up. Yesterday action gain was a washout on Friday loss. Watchout for S&P 500 at 1050 level. It seems like the market is ready to go higher. In back of my mind I believe it could be a false breakout.

September 14th, 2009

Good morning all, as I write this post earlier than usual, the premarket action is pointing down.
Watch for the first 30 minutes action. If the market quickly fall below more than 100 points within that timeframe, it could close more than 100 points down today. If it doesn't, it will try to close the morning gap during the day. I am expecting some kind of pullback this week. Our targets for SPY is 101.25 and QQQQ is 39.95.

September 11, 2009

I am looking for some sign of reversal today. Also I am still looking for SPY to hit 101.25 and QQQQ to hit 39.95.

September 10th, 2009

I am still looking for SPY to hit 101.25 and QQQQ to hit 39.95. The premarket action will be probably flat. It seems like 104 is a resistance level for SPY. Spot gold is continue to fall.

September 9th, 2009

Hey all, sorry for the late post. I had a long meeting this morning. I am still looking for SPY to hit 101.25 and QQQQ to hit 39.95 in a few days.

September 8th, 2009

All the targets that I mentioned had been hit so far. There are no open targets. We can start out with clean slate in a new day of new week. The premarket action tells us the market will be open higher. I will be watching very closely the first 30 minutes action. I would expect SPY will 103 within that timeframe.

September 4th, 2009

Ok. let's try this one more time. Look for QQQQ to hit 39.80 target.

September 3rd, 2009

I am looking for QQQQ bounce back up to 39.80. I believe the market is not ready to go down yet.
You will see sideway action back and forth between in the high 38s to 41 area.

September 2nd, 2009

Look for a intraday bounce back up for QQQQ to 39.80.

September 1st, 2009

Either today the market will see a breakdown or fill the yesterday gap. In order for the breakdown SPY will need to go below 101.80 and QQQQ at 39.80.

August 31, 2009

Good morning all. Today is the last day of August. As I write this post, the premarket is pointing down. Last Friday, I pointed out that QQQQ will hit 40.05. If it does, it will retest 39.80. Watch for the first 30 minutes action play out after the market opened. If the market opens down 50 to 80 points and quickly fall more than 100 points, the market will closed more than 100 points. If it doesn't, it will try to close the morning gap during the intraday.

August 28, 2009

Watch out for one of the 3 scenarios play out today.
1. Open higher in the morning, close the morning gap, close in the negative territory. This action could be the opposite of yesterday.
2. Open higher in the morning, close the morning gap, close where its open. The bears and bulls are still continue to fight.
3. Open higher in the morning, continue to go higher and form a white bar. It could signal a breakout from here.

August 27, 2009

Sorry for the late post this morning. I had a long meeting. Anyway, QQQQ had hit our target at 39.90 and even exceeded it. It went down to where pre Bernanke's speech last Friday. So we wasted 4 days because of the speech. Like I said in previous days, I believe the speech was an outlier data. The beauty of this morning action of pullback is that there is no gap to fill. It means that the last 3 previous days could signal a top for the market.

August 26, 2009

Finally, the market will probably open flat today. This week action is very critical for the market.
The VIX is at 0 level. If the VIX crosses above 0, the market could go down. Also the gold market is at the 940ish. Another important area for the gold. I still believe QQQQ will still hit 39.90 area. It needs to go back down to the level of pre Bernanke's speech.

August 25, 2009

Good morning all, it seems like the market will open higher this morning. It probably will retest the yesterday high. One of my posts from yesterday stated that SPY could have a shot to hit 103.60.
If there is gap this morning, watch for it to close again like yesterday.

August 24, 2009

I reviewed the market last week action over the weekend. Most investors are expecting a breakout from here. Personally, I believe the last week action was "dead cat bounce". We are looking for QQQQ to hit 39.90 either today or tomorrow.

August 21, 2009

Today we are looking for the QQQQ target to hit 39.07 either today or next Monday. This morning I crunched the number again. There is a possibility that QQQQ could hit 39.96 to 40 first before it reverses down. There is some thing watch. Yesterday one of my posts stated that QQQQ could hit 39.96. We'll see.

August 20, 2009

Good morning all, we are looking for QQQQ target at 39.76 today. Sometimes the target can be exceeded or just missed by a nickel or something. From what I know about trading, it is not about getting the best entry point. It is about making the correct direction or trend. If you are making a correct direction or trend, you will make profit no matter what if you don't get the best entry point. Happy trading today.

August 19, 2009

Welcome to my first blog. I am here to assist you making sound decisions before you invest in the U.S. market. Almost every day I will post my targets. Usually my targets will hit within the same day or next 2 days. Today I posted on Yahoo SPY message board that QQQQ will hit 39.30 in the morning. During lunchtime it hit my target. When I posted my predicted targets, there are not random or lucky guess.