This is a great opportunity to short from this level.
The market just had its relieved rally.
Thursday, February 18, 2010
Wednesday, February 17, 2010
February 17th, 2010
Some stocks are double top. Some others are not participating with the rally. The rest are just tagging along with it.
Always short on the rally.
Always short on the rally.
Tuesday, February 16, 2010
February 16th, 2010
GLD had hit my target at 109.50 area.
There are some individual stocks are heading backup.
If SPY stays and closes above the 13 day moving average, the market is heading back up.
Few weeks ago, I mentioned this pattern could micmic the same pattern from last June and July timeframe. This is early to tell yet.
There are some individual stocks are heading backup.
If SPY stays and closes above the 13 day moving average, the market is heading back up.
Few weeks ago, I mentioned this pattern could micmic the same pattern from last June and July timeframe. This is early to tell yet.
Monday, February 15, 2010
February 15th, 2010
Today the market is closed.
Here is what I think about the market right now.
Last year, the SPY didn't spend too much time in 106 to 107 area. So in the past few weeks or so, SPY spend time in that area. SPY is ready to make a move. The question is which direction.
My guess will be up. During that two days big drop from 115 to 109, SPY needs to retrace back up in 3 point progressive move, 106, 109, 112, 115. The 106 is the strong support level. There was a gap between 109 to 110. The 112 was the breakout point not too long ago. The 115 was the top.
Again I am closely watching USO, spot gold, Dollar and VIX.
The USO could bounce back up to 39.
The DXY (dollar currency) could drop back down to 78.5, the breakout level.
The spot gold (GLD) could hit 109.5 to 110.
I am expecting VIX to retrace back down to 19 area.
Here is what I think about the market right now.
Last year, the SPY didn't spend too much time in 106 to 107 area. So in the past few weeks or so, SPY spend time in that area. SPY is ready to make a move. The question is which direction.
My guess will be up. During that two days big drop from 115 to 109, SPY needs to retrace back up in 3 point progressive move, 106, 109, 112, 115. The 106 is the strong support level. There was a gap between 109 to 110. The 112 was the breakout point not too long ago. The 115 was the top.
Again I am closely watching USO, spot gold, Dollar and VIX.
The USO could bounce back up to 39.
The DXY (dollar currency) could drop back down to 78.5, the breakout level.
The spot gold (GLD) could hit 109.5 to 110.
I am expecting VIX to retrace back down to 19 area.
Friday, February 12, 2010
February 12th, 2010
Next Monday the market will be closed.
The market gapped down from the opening.
If the market closes to flat even line or higher, the market will continue to go higher from here.
If the market closes to where its opened today, the market is still deciding which direction to go.
If the market closes 100 points or more down, the market is heading down.
Watch how the market closes the morning gap. This is the crucial area.
The market gapped down from the opening.
If the market closes to flat even line or higher, the market will continue to go higher from here.
If the market closes to where its opened today, the market is still deciding which direction to go.
If the market closes 100 points or more down, the market is heading down.
Watch how the market closes the morning gap. This is the crucial area.
Thursday, February 11, 2010
February 11th, 2010
Northeast had the two big snow storms within a week.
I have to dig myself out of it. Not many people are at work today.
The traders are sitting and waiting for the market to decide which direction to go.
I have to dig myself out of it. Not many people are at work today.
The traders are sitting and waiting for the market to decide which direction to go.
Wednesday, February 10, 2010
February 10th, 2010
So far the market is trading above the Friday low.
Yesterday action was pretty neutral for the bears and bulls. The market did closed around 150 points higher, but it closed where it's opened.
Yesterday action was pretty neutral for the bears and bulls. The market did closed around 150 points higher, but it closed where it's opened.
Subscribe to:
Posts (Atom)