Today and tomorrow I will be moving out of New Jersey to Maryland to live.
I will not be able to posts any blogs in those two days.
But I will be back on Wednesday.
Monday, June 28, 2010
Friday, June 25, 2010
June 25th, 2010
A second leg down will take SPY down to 96 area or QQQQ to 41.5 area.
It might or might not go straight down from here. It is either have heaving selling to SPY at 96 or it could be choppy along the way.
If GOOG break 465 level, a second leg down will happened.
If GS break 130 level, a second leg down will happened.
If X break 40 level, a second leg down will happened.
If AMZN break 115 level, a second leg down will happened.
You got the idea.
It might or might not go straight down from here. It is either have heaving selling to SPY at 96 or it could be choppy along the way.
If GOOG break 465 level, a second leg down will happened.
If GS break 130 level, a second leg down will happened.
If X break 40 level, a second leg down will happened.
If AMZN break 115 level, a second leg down will happened.
You got the idea.
Thursday, June 24, 2010
June 24th, 2010
Here comes the second leg down.
The right shoulder was either a small one or none at all is done.
VIX is going back up. Huge support at 25.
TZA is going back up. Huge support at 6.50.
Note: TZA will do a reverse split of 5 to 1 on July 7th.
The right shoulder was either a small one or none at all is done.
VIX is going back up. Huge support at 25.
TZA is going back up. Huge support at 6.50.
Note: TZA will do a reverse split of 5 to 1 on July 7th.
Wednesday, June 23, 2010
June 23rd, 2010
Is this the beginning of second leg down for the market?
The TZA is moving back up.
The VIX is moving back up.
It seems like GS and GOOG are beginning to take a second leg down.
If S&P 500 closes below 1080, you can expect the market to head lower from here.
The TZA is moving back up.
The VIX is moving back up.
It seems like GS and GOOG are beginning to take a second leg down.
If S&P 500 closes below 1080, you can expect the market to head lower from here.
Tuesday, June 22, 2010
June 22nd, 2010
Watch GS possibly second leg down from here. So GS had not participated with recent small volume rally with the market.
Now VIX is hanging around 25 mark.
Now TZA is hanging around 6.50 mark.
Now VIX is hanging around 25 mark.
Now TZA is hanging around 6.50 mark.
Monday, June 21, 2010
June 21th, 2010
Is today the climax of pseduo right shoulder? I think it is.
Remember the last 3 trading days were light volume.
Remember the last 3 trading days were light volume.
Friday, June 18, 2010
June 18th, 2010
The market is continuing to move higher in light volume.
The spot gold is breaking out.
The VIX broke down below 25.
The spot gold is breaking out.
The VIX broke down below 25.
Thursday, June 17, 2010
June 17th, 2010
Now the market volume is picking up.
Now I believe yesterday action was to get longs to buy after S&P 500 break 1105 to 1110 resistance level.
TZA did dropped below 6.50, but today it is climbing back up above it.
I have to say yesterday action was shake and back the shorts and longs depend how you are invested.
Now I believe yesterday action was to get longs to buy after S&P 500 break 1105 to 1110 resistance level.
TZA did dropped below 6.50, but today it is climbing back up above it.
I have to say yesterday action was shake and back the shorts and longs depend how you are invested.
Wednesday, June 16, 2010
June 16th, 2010
Since last Friday the market went up in low volume.
I don't believe in this rally at all since last Friday.
The market will retrace back down to last Thursday opening gap.
Since the market went up in low volume, the shorts are covering and little buyers are stepping.
I don't believe in this rally at all since last Friday.
The market will retrace back down to last Thursday opening gap.
Since the market went up in low volume, the shorts are covering and little buyers are stepping.
Tuesday, June 15, 2010
June 15th, 2010
Again, the market hit the resistance level at 1103 to 1105 for S&P 500.
It seems like GS is struggling to go up comparing with the overall market.
Something to watch for.
VIX at 25
TZA at 6.50
S&P 500 at 1103 to 1105 area.
It seems like GS is struggling to go up comparing with the overall market.
Something to watch for.
VIX at 25
TZA at 6.50
S&P 500 at 1103 to 1105 area.
Monday, June 14, 2010
June 14th, 2010
The market is right back at the heavy resistance level. S&P 500 at 1103 to 1105 area.
Last Friday action was a up day for the market but the volume was light.
If the S&P 500 take out 1103 to 1105, then you can expect a right shoulder to form.
Last Friday action was a up day for the market but the volume was light.
If the S&P 500 take out 1103 to 1105, then you can expect a right shoulder to form.
Friday, June 11, 2010
June 11th, 2010
There is a heavy resistance level at 1085 to 1090 for S&P 500.
Watch VIX at the support level 30.
If today the market closes above 1090 and forms a white bar, go long for a brief rally.
If that is the case, I will close my short position on BIDU and reenter later on.
Watch VIX at the support level 30.
If today the market closes above 1090 and forms a white bar, go long for a brief rally.
If that is the case, I will close my short position on BIDU and reenter later on.
Thursday, June 10, 2010
June 10th, 2010
Watch S&P 500 at 1085 and 1090 area. That area is a very strong resistance level.
Also watch for VIX. If VIX closes below 30, then you could expect the market to retrace much higher from here.
Also watch for VIX. If VIX closes below 30, then you could expect the market to retrace much higher from here.
Wednesday, June 9, 2010
June 9th, 2010
Sorry for the late post. I was very busy this morning with the customers.
Now S&P 500 heavy resistance level at at 1085 to 1090.
The market is doing 2 step down and 1 step up.
Watch BP closely. It could file for bankruptcy because of oil spill in Gulf of Mexico.
Now S&P 500 heavy resistance level at at 1085 to 1090.
The market is doing 2 step down and 1 step up.
Watch BP closely. It could file for bankruptcy because of oil spill in Gulf of Mexico.
Tuesday, June 8, 2010
June 8th, 2010
The spot gold continues to trend higher. You can follow it by GLD or DGP.
However the gold stocks are not performing as well as spot gold because the overall market dragged them down little.
Where are we heading with the market?
I have a price target of QQQQ at 41.5 in short term.
For longer term I have a price target for SPY at 95.
If the market corrects in a heart beat, you can expect QQQQ and SPY targets meet in no time.
However the gold stocks are not performing as well as spot gold because the overall market dragged them down little.
Where are we heading with the market?
I have a price target of QQQQ at 41.5 in short term.
For longer term I have a price target for SPY at 95.
If the market corrects in a heart beat, you can expect QQQQ and SPY targets meet in no time.
Monday, June 7, 2010
June 7th, 2010
I have bad news.
I usually post my blogs on this site. Over the weekend, the company that I worked for finally blocked this social media site on my laptop. I can't no longer access it.
I am writing this blog through another open PC. It is very uncomfortable to use this PC.
Is there another free site that I can post my blogs daily?
I usually post my blogs on this site. Over the weekend, the company that I worked for finally blocked this social media site on my laptop. I can't no longer access it.
I am writing this blog through another open PC. It is very uncomfortable to use this PC.
Is there another free site that I can post my blogs daily?
Friday, June 4, 2010
June 4th, 2010
Like I said in the previous days, you will probably not going to see a right shoulder forming.
The S&P 500 had a hard time breaking above 1103 to 1105 area.
The spot gold and gold stocks are moving down.
The VIX remains above 30 and TZA didn't break below 6.50. The 6.50 is a very strong support level for TZA.
The S&P 500 had a hard time breaking above 1103 to 1105 area.
The spot gold and gold stocks are moving down.
The VIX remains above 30 and TZA didn't break below 6.50. The 6.50 is a very strong support level for TZA.
Thursday, June 3, 2010
June 3rd, 2010
The QQQQ almost hit 47 target that I have for it. It hit 46.66. The 47 could be a stretch.
During this rally, CLF didn't participated at all.
In the foreign markets, they are broke below the February low. It is just a matter of time that the U.S. market will break the February low.
During this rally, CLF didn't participated at all.
In the foreign markets, they are broke below the February low. It is just a matter of time that the U.S. market will break the February low.
Wednesday, June 2, 2010
June 2nd, 2010
The market is continuing to be volatile.
The SPY had trouble breaking above 109.50 to 110.00 level and stay above.
Lots of investors are expecting to see the right shoulder and so do I. But the more I looked at the charts there could be no right shoulder forming. Since March 2009, there were hardly any head and shoulders pattern at all.
The SPY had trouble breaking above 109.50 to 110.00 level and stay above.
Lots of investors are expecting to see the right shoulder and so do I. But the more I looked at the charts there could be no right shoulder forming. Since March 2009, there were hardly any head and shoulders pattern at all.
Tuesday, June 1, 2010
June 1st, 2010
I hope everyone had a good holiday weekend.
Watch for QQQQ to hit 47 target if possible.
Also watch for TZA at 6.50. If it closes below 6.50, the market could have a shot to shoot higher.
Watch for QQQQ to hit 47 target if possible.
Also watch for TZA at 6.50. If it closes below 6.50, the market could have a shot to shoot higher.
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