Posts Tagged ‘ SPY ’

Hugging My GLD Like a Teddy Bear

While everything else continues to chop around, fail breakouts and mean revert, my gold position in $GLD continues to work.  Is it making me mucho deniro, not really, i was unfortunately loaded with equities at the time I took the $GLD position and didn’t add more than one lot on the breakout.  Since that breakout in [ READ MORE ]

Back to Work and Sitting On My Hands

Back at my desk today after two weeks of travel, it’s nice to be stationary for a bit. The major story late last week was of course the disaster that is Dubai. Capitalism has the ultimate learning curve. Back in the early 90′s the oil rich gulf nations had no clue what to do with [ READ MORE ]

Running Out of Breadth

Like a less talented, smaller, slower team, the market is just hanging around, scrapping and clawing to stay in the game.  Teams like this are dangerous, it’s anyone’s game in the waning minutes.  A big push up above 1120 with volume on the $SPX and I wouldn’t be surprised to see another round of buying [ READ MORE ]

We Go Lower

The market gave it up today, as I expected.  I’ve been warning you the past few days that the momentum had left the market and we were stalling out.  We were at the top of the channel range, it was either a break through on volume leading to a crazy melt up or we were [ READ MORE ]

The Nothing Day

Today was a nothing day, anything that happened you should pretty much throw out the window and forget, no one was trading.  We are still trapped under the upper trend channel on the $SPY after breaking out of the bull flag put in last week.  Negative divergences are forming on the hourly chart which should [ READ MORE ]

Why Are They Lying About the Dollar?

Buy the dips, and sell the rips.  When this, the most hated equity rally in history is over we will look back, sigh, and just repeat, buy the dips and sell the rips.  I commented in an interview during the last dip that you had to continue putting your balls on the line during sell [ READ MORE ]

Pick Your Battles

You haven’t heard much from me lately, there’s a good reason.  No, I haven’t been off surfing in Costa Rica, or indo, or some other exotic locale, I’ve been right here at my desk.  Part of being a good trader is knowing when, and when not to trade.  I honestly don’t have a good hook [ READ MORE ]

The Fear of Cash

What’s the scariest thing to see on your balance sheet right now, no it’s not a toxic asset, it’s cash.  Companies are now starting to panic about holding cash on their books. Funny to think there’s a huge advantage to holding a lot of debt right now in a terrible economy. The market is giving [ READ MORE ]

Deja Vu?

Take a look at the two charts below.  The top is from May – July, the bottom is current.  Look similar, yea I thought so.  To make life as difficult as possible for everyone, I believe we are going to see another head and shoulders pattern form on the $SPY.  The traders who shorted this [ READ MORE ]

Golden Opportunities

I’m seeing some extreme indecision in the market, which makes sense at this point.  The dip buyers failed, they did, and they know it.  The shorts never came in, they decided took keep what was left of their dignity and sit this one out.  Unlike the last few dips there are no short sellers this [ READ MORE ]

StockTwits Desktop