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.
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