Friday, April 30, 2010

April 30th, 2010

Remember what I said about CLF few days ago. It had a nice dead cat bounce for couple days and then the stock price took a nose dive after that.

I will expect the market will follow that pattern. The market had a nice dead cat bounce few days ago.

Thursday, April 29, 2010

April 29th, 2010

This is a good area to short more.

I bought more SPXU at 27.50 and TZA at 5.76.

Wednesday, April 28, 2010

April 28th, 2010

Like I said before, the days after April 15th, the rally was a bogus.

It seems like the market have changed the trend from up to down. But the market is not a bear market yet. There are still some bulls out there.

If the VIX breaks above 30, then you can expect the market will have a deeper correction.

Tuesday, April 27, 2010

April 27th, 2010

The stock market continues its climb with weakness on hands.

There are stocks that changed trends already.

X,GS, GOOG and CLF

CLF just experienced dead cat bounce the last couple days.

Monday, April 26, 2010

April 26th, 2010

Since the day after April 15th, the market went up in light volume.

This is all bogus rally. The shorts who shorted probably covered.

There are some individual stocks already changed trend or breakdown.

Friday, April 23, 2010

April 23rd, 2010

The market keep on rolling higher in light volume.

I am still expecting the SPY will hit 113 and QQQQ will hit 46 again.

Thursday, April 22, 2010

April 21th, 2010

There are more and more individual stocks are having false breakout.

Some of them have changed trend already to downside.

I will expect SPY to hit 113 again and QQQQ at 46 again in the future.

Wednesday, April 21, 2010

April 21th, 2010

X is continuing to break down.

Now CLF is turning to downtrend.

It is usually the energy and mining stocks are the first to go.

The market will follow the suit.

Tuesday, April 20, 2010

April 20th, 2010

No matter how you put it about the market.

I believe the market will follow the pattern of X and POT.

Monday, April 19, 2010

April 19th, 2010

The Friday action was very encouraging for the bears.

Earlier last week, I sensed something was about to happen the day after April 15th, tax returns.

Is this the turning point for the market?

The market turned around from downtrend to uptrend from March low in 2009. The Citigroup news turned the market around. Now Goldman Sachs, another bank stock news, could signal the turnaround from uptrend to downtrend.

Friday, April 16, 2010

April 16th, 2010

The Day after April 15th.

I am still expecting a false breakout above 11,000 for DOW and 1200 for S&P 500.

X and POT had false breakout. Now both of them are breaking down.

Many more will follow.

Thursday, April 15, 2010

April 15th, 2010

The market broke the 11000 mark.

I am really surprised that the market is continuing marching higher with low volume.

Wednesday, April 14, 2010

April 14th, 2010

POT is continuing to break down. POT had false breakout.

X and LMT could follow POT pattern. Could they had a false breakout too?

Tuesday, April 13, 2010

April 13th, 2010

The DOW is flirting with 11,000 mark.

The market creeped up the last few weeks in low volume.

I am very curious what will happened after the April 15th.

Monday, April 12, 2010

April 12th, 2010

The market had hit 11,000 mark.

The SPY is very close to 120. Will the market continue to breakout or it will fail for a false breakout?

Don't forget to do your taxes. The deadline is April 15th.

Friday, April 9, 2010

April 9th, 2010

The market is hitting a major psychological resistance level for DOW at 11,000 and S&P 500 at 1200.

More and more upgrades on individual stocks lately. Is this a contradiction of the move in the future?

Thursday, April 8, 2010

April 8th, 2010

For the last couple days, the market had been traded in the negative territory.

There are some stocks are breaking down.

POT, RIMM, most defense stocks

Wednesday, April 7, 2010

April 7th, 2010

Today and yesterday opening actions are almost the same.

Opened down slightly and closed the gap.

The way I am seeing right now, the market is way overbought and have trouble to continue to go higher. It might do one more short squeeze.

Tuesday, April 6, 2010

April 6th, 2010

Great college basketball game last night.

The market is still going up higher in low volume.
You are started to see lots of analysts upgraded their targets on some stocks.

The VIX and VXN 13 day moving average is about to head back up.

Monday, April 5, 2010

April 5th, 2010

I'm back.

The market is continuing heading higher in low volume.

The DOW will probably restest 11, 000.
The USO broke out.
The U.S dollar currency restested it broke out point.
The VIX is holding its support