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.
Wednesday, June 9, 2010
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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