The trading volume today will be light due to holiday weekend.
The market will be closed on Monday because it is Memorial Day.
Friday, May 28, 2010
Thursday, May 27, 2010
Wednesday, May 26, 2010
May 26th, 2010
Here comes the retracement up. Watch for CLF. There is a minor resistance at 55. If it breaks above 55, then here comes 60.
I am still expecting QQQQ to hit 47.
The spot gold and gold stocks are ready to resume upward.
I am still expecting QQQQ to hit 47.
The spot gold and gold stocks are ready to resume upward.
Tuesday, May 25, 2010
May 25th, 2010
The market opened gap down again.
Is this the final panic selling or more selling to go yet.
VIX are overbought. Is the specialist trying to trap short on this gap down?
I will be away from my desk entire morning.
Is this the final panic selling or more selling to go yet.
VIX are overbought. Is the specialist trying to trap short on this gap down?
I will be away from my desk entire morning.
Monday, May 24, 2010
May 24th, 2010
Last week action was a bear tone in oversold territory.
This week the market will have a dead cat bounce from oversold territory.
CLF dropped below 50 market, but quickly bounced back up above 50 last week.
CLF had two resistance levels, 55 and 60 area.
I will expect QQQQ to hit 47 again for retracement.
The spot gold and gold stocks had dropped back to the support level last week.
This week the market will have a dead cat bounce from oversold territory.
CLF dropped below 50 market, but quickly bounced back up above 50 last week.
CLF had two resistance levels, 55 and 60 area.
I will expect QQQQ to hit 47 again for retracement.
The spot gold and gold stocks had dropped back to the support level last week.
Friday, May 21, 2010
May 21st, 2010
The market (SPY) restest the low at 106 area. This is a very good support level. Everything is way oversold. If you have been short, cover now. The market will bounce back up to retrace some gaps along the way down.
Also the VIX is way overbought beyond the bollinger band.
If there is a bounce from here, I am expecting QQQQ to hit 47 again.
Also the VIX is way overbought beyond the bollinger band.
If there is a bounce from here, I am expecting QQQQ to hit 47 again.
Thursday, May 20, 2010
May 20th, 2010
The VIX is back to the high of 41. It did retested to the same high. It did opened much higher.
The VIX is at the upper channel of bollinger band. There is a huge gap to fill from this morning.
If it closes down and to breakeven mark, the market could bounce back up from here. Lots of panic selling right from the start of trading hour.
Watch TZA restest around 7.40 to 7.50 area.
V and MA dropped too much in recent week. It is holding well today compare to today action.
The VIX is at the upper channel of bollinger band. There is a huge gap to fill from this morning.
If it closes down and to breakeven mark, the market could bounce back up from here. Lots of panic selling right from the start of trading hour.
Watch TZA restest around 7.40 to 7.50 area.
V and MA dropped too much in recent week. It is holding well today compare to today action.
Wednesday, May 19, 2010
May 19th, 2010
The market retested the previous low for S&P 500 at 1110.00. This could be a temporary support level here. The QQQQ will retrace back up to 47.
Tuesday, May 18, 2010
May 18th, 2010
Like I said the market will retrace back up to last Friday morning gap (SPY at 116). Now there is a morning gap from today at 114 for SPY.
CLF bounced off from 50 mark at support level.
Yesterday action was a tale of two cities. The bear won in the morning but the bull won in the afternoon. Due to late bull run, I have to give it to the bull win that day.
CLF bounced off from 50 mark at support level.
Yesterday action was a tale of two cities. The bear won in the morning but the bull won in the afternoon. Due to late bull run, I have to give it to the bull win that day.
Monday, May 17, 2010
May 17th, 2010
I am expecting the market to retrace back up to last Friday morning gap.
I believe this week is the make or break week for the market. Why I said that?
If the market trades sideways this this week or have three white bars out of 5 bars, then you can expect the market to go back up. If there are more red bars this week, then there is more downside from here.
Also watch CLF carefully. If CLF breaks down below 50, the market will have a tendency to break down as well.
I believe this week is the make or break week for the market. Why I said that?
If the market trades sideways this this week or have three white bars out of 5 bars, then you can expect the market to go back up. If there are more red bars this week, then there is more downside from here.
Also watch CLF carefully. If CLF breaks down below 50, the market will have a tendency to break down as well.
Friday, May 14, 2010
May 14th, 2010
Well, the S&P 500 didn't hit my target 1180. It did hit 1173. Now the market will retrace back down to Monday morning gap.
Watch for CLF. If CLF breaks down below 50 market. You can expect the SPY to hit 106 again.
Watch for CLF. If CLF breaks down below 50 market. You can expect the SPY to hit 106 again.
Thursday, May 13, 2010
May 13th, 2010
The market is at a crossroad. Is it going to shoot higher or retrace back down to close some gaps between last Friday and this Monday area for SPY.
CLF is hovering around 55 to 60, but the 13 day moving average is still pointed downward.
Could S&P 500 hit 1180?
Yesterday volume was some what light.
CLF is hovering around 55 to 60, but the 13 day moving average is still pointed downward.
Could S&P 500 hit 1180?
Yesterday volume was some what light.
Wednesday, May 12, 2010
May 12th, 2010
Since I made my trades publicly opened back in September 2009, I have made over 116% in return profit. That is only the first 9 months of trading. Let's see if I can get to 200% return in one year timeframe.
I am expecting S&P 500 to hit 1180. The 1200 target might be a stretch, but we can't rule that out.
The spot gold continues to rise higher.
If TZA drops below 5.80 mark, you can expect S&P 500 to hit 1200 again.
I am watching CLF closely to predict what will the market do in the next few days.
Added comments:
Just bought TZA at 5.90.
Add comments:
BAS, thanks. From what I know of trading in the past experience, if you bought stocks and it went against your way, there is always a chance it went back to your price to breakeven. Like I did with CLF. I shorted CLF around 54 and it shot up to 73 area. Yes I was wrong about that trade. Guess what, CLF went back down to my shorted price and even more. I bought TZA this morning. I am expecting TZA to close the morning gap from today.
I am expecting S&P 500 to hit 1180. The 1200 target might be a stretch, but we can't rule that out.
The spot gold continues to rise higher.
If TZA drops below 5.80 mark, you can expect S&P 500 to hit 1200 again.
I am watching CLF closely to predict what will the market do in the next few days.
Added comments:
Just bought TZA at 5.90.
Add comments:
BAS, thanks. From what I know of trading in the past experience, if you bought stocks and it went against your way, there is always a chance it went back to your price to breakeven. Like I did with CLF. I shorted CLF around 54 and it shot up to 73 area. Yes I was wrong about that trade. Guess what, CLF went back down to my shorted price and even more. I bought TZA this morning. I am expecting TZA to close the morning gap from today.
Tuesday, May 11, 2010
May 11th, 2010
Gold stocks are breaking out.
GLD, AEM, GG, GDX, ABX
Watch CLF pattern carefully. So far CLF is couple days prediction for the market. It worked so far.
Now VIX had a support level at 25.
GLD, AEM, GG, GDX, ABX
Watch CLF pattern carefully. So far CLF is couple days prediction for the market. It worked so far.
Now VIX had a support level at 25.
Monday, May 10, 2010
May 10th, 2010
Like I said earlier last week the market will trace back up.
S&P 500 could retrace back up to 1180. There is a gap around 1200 area.
If it ever does retrace these two targets, then it could retrace back down to today morning huge gap.
The VIX was overextended last Friday. It is retracing back down below 30.
S&P 500 could retrace back up to 1180. There is a gap around 1200 area.
If it ever does retrace these two targets, then it could retrace back down to today morning huge gap.
The VIX was overextended last Friday. It is retracing back down below 30.
Friday, May 7, 2010
May 7th, 2010
The market bounced back up to 113 for SPY and 46 for QQQQ. It did drop down to 106 for SPY and 42 for QQQQ. Yesterday it was one of the craziest day that I ever witnessed of trading.
Where is the market going from here in short term view?
113 for SPY and 46 for QQQQ is a temporary support level. The real good support level for SPY is at 106 and 42 for QQQQ. As I looked over the charts last night, there is one gap to fill up. The gap is at 1200 for S&P500. Also the market could retrace back up to 1180 for S&P 500.
If you want to invest your money in equities, the gold stocks are the safe bet. In the past the gold stocks went higher as the market went down.
Where is the market going from here in short term view?
113 for SPY and 46 for QQQQ is a temporary support level. The real good support level for SPY is at 106 and 42 for QQQQ. As I looked over the charts last night, there is one gap to fill up. The gap is at 1200 for S&P500. Also the market could retrace back up to 1180 for S&P 500.
If you want to invest your money in equities, the gold stocks are the safe bet. In the past the gold stocks went higher as the market went down.
Thursday, May 6, 2010
May 6th, 2010
The current short term trend is down.
GOOG broke the support level at 520.
AMZN is right at the support level of 130.
IBM is right at the support level of 125.
INTC is right at the support level of 22.
CLF is hanging between 55 to 59 area.
If more stocks break down below the support level, you can expect the market will have a deeper correction. It means that SPY could breakdown below 113 and QQQQ below 46.
Then the next level for SPY is 106 and QQQQ is 42.
GOOG broke the support level at 520.
AMZN is right at the support level of 130.
IBM is right at the support level of 125.
INTC is right at the support level of 22.
CLF is hanging between 55 to 59 area.
If more stocks break down below the support level, you can expect the market will have a deeper correction. It means that SPY could breakdown below 113 and QQQQ below 46.
Then the next level for SPY is 106 and QQQQ is 42.
Wednesday, May 5, 2010
May 5th, 2010
I was down more than 20 points of shorting CLF. Now I am able to squeeze small profit of it.
I knew it will go down to 54 to 55 area again. That area was the breakout point for CLF.
I am still expecting SPY to hit 113 and QQQQ to hit 46 again.
I am still under water for SPXU. Make a small profit of TZA right now.
I knew it will go down to 54 to 55 area again. That area was the breakout point for CLF.
I am still expecting SPY to hit 113 and QQQQ to hit 46 again.
I am still under water for SPXU. Make a small profit of TZA right now.
Tuesday, May 4, 2010
May 4th, 2010
I warned about the market today from yesterday action.
It is following exactly like CLF pattern. Yesterday action was almost the same as CLF traded on April 28. The next day CLF dropped big. The market could drop big today.
I am still expecting SPY to hit 113 and QQQQ to hit 46 area.
Added comments.
I still can't add more comments beside my first post for the day. There is something wrong with the site. I have to find another site to write my posts.
We need the VIX to exceed the resistance level of 30 in order for a true bear market.
Added comments.
Now I am pretty much break even on the CLF. I was down more than 20 point on shorting it.
Glad I wasn't trading on emotions.
It is following exactly like CLF pattern. Yesterday action was almost the same as CLF traded on April 28. The next day CLF dropped big. The market could drop big today.
I am still expecting SPY to hit 113 and QQQQ to hit 46 area.
Added comments.
I still can't add more comments beside my first post for the day. There is something wrong with the site. I have to find another site to write my posts.
We need the VIX to exceed the resistance level of 30 in order for a true bear market.
Added comments.
Now I am pretty much break even on the CLF. I was down more than 20 point on shorting it.
Glad I wasn't trading on emotions.
Monday, May 3, 2010
May 3rd, 2010
The spot gold broke the inverse head and shoulder pattern. It is about to go much higher from here.
The U.S. market is about to break down. Lots of big company stocks are already down huge such as GOOG, GS, CLF, and X.
The futures are in the green right now. All I want is the market to close lower than its opened.
The VIX is about to go much higher from here. It had a strong support at 18.
Guys, there is something wrong with the site. I can't seem to put any comments after my first blog for today.
I will add my comments here.
Today action resemble CLF action on April 28. You do know what happened the next day for CLF. Watch for the market follow the CLF pattern.
The U.S. market is about to break down. Lots of big company stocks are already down huge such as GOOG, GS, CLF, and X.
The futures are in the green right now. All I want is the market to close lower than its opened.
The VIX is about to go much higher from here. It had a strong support at 18.
Guys, there is something wrong with the site. I can't seem to put any comments after my first blog for today.
I will add my comments here.
Today action resemble CLF action on April 28. You do know what happened the next day for CLF. Watch for the market follow the CLF pattern.
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