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.