Feb
28

Charts and Coffee Fib Levels

Charts and Coffee on February 28th, 2009 at 12:20 pm Central Time

For those that have been reading as of late, I’ve been working hard on coming up with a plan to play the major indexes below the November support levels (click on the label Fib Spectacles for an example).
I’ve been working to map out key support levels on the major indexes ($SPX, $COMPX, and $RUT) along [...]

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Feb
27

Good Month … Good Week

Charts and Coffee on February 27th, 2009 at 5:42 pm Central Time

I hope everyone else had a good month of trading. It feels very good to have built up a little chest of profits.
Today was shaping up to be a winning day but I had too many busts in my junk long portfolio to get in the plus column today combined with the fact that VXX [...]

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$spx, DXO, SPY, VXX, XLI DIA, qqqq Comments
Feb
26

You Know You Are In A Zone When …

Charts and Coffee on February 26th, 2009 at 7:39 pm Central Time

I decided to take a small anticipatory long position when GME pulled back to $28. I then noticed half way through the day that my broker executed my buy order two times and that I had double the position size intended. Therefore, at around $28, I trimmed it back down to my intended position size [...]

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$spx, GLD, GME, IWM, PTM, Precious Metals, SLV, SPY Comments
Feb
25

Amazing Fibs

Charts and Coffee on February 25th, 2009 at 7:00 pm Central Time

The fibs continue to amaze. I’ve used the retracement levels feature in Prophet to plot out the key levels on $SPX. I gave the entire list of RL levels in anticipation for trading down to 600 in my “Fib Spectacles” post earlier this week (whether it is soon or later in the year).
Because the [...]

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$spx, CBI, ESI, Fibonacci Friendly, GLD, PTM, Precious Metals, RCL, SLV Comments
Feb
24

Easy Street (SPY, ESI, Precious Metals)

Charts and Coffee on February 24th, 2009 at 5:34 pm Central Time

It was only a couple of weeks ago that I posted “be patient” or “wait for the triangle to break.” In contrast, we are now hitting one of those points in the year where things are getting easier and lots of money can be made. I have observed over my years of trading that every [...]

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$spx, ESI, FXY, GLD, PTM, SLV, SPY, VXX Comments
Feb
24

Midday Update

Charts and Coffee on February 24th, 2009 at 11:20 am Central Time

Early in the morning I closed a little of my XLI short and also a little of my VXX long. I also trimmed down my junk long positions in SWHC and S. I sold off my junk long position in ODP. The ODP chart is indicating that it is going into bankruptcy. Today’s breakdown was [...]

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Auto Parts Sector, ODP, Precious Metals, SLV, SWHC, VXX, XLI Comments
Feb
23

Fib Spectacles and FXY

Charts and Coffee on February 23rd, 2009 at 7:25 pm Central Time

I will come out and say it. Today was by far my best day of trading this year. My patience of waiting for the big break a couple of weeks back is now paying off. I covered my entire SPY short today at an average price in the high 75s. I also covered a little [...]

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$spx, FXY, Fibonacci Friendly, SPY Comments
Feb
22

Sunday Night Coffee – 2/22/09

Charts and Coffee on February 22nd, 2009 at 9:43 am Central Time

I will start off today’s Sunday Night Coffee post by getting a handle on the broader indexes and I will get more narrow in scope from there. I’ll be discussing the major indexes, the dollar, yen, some long ideas, the European banks, Las Vegas and my general trading plan for the week.
The first chart is [...]

More on this topic (What's this?)
CHINESE EXPORT DATA PRESSURES THE YEN (THE PRAGMATIC CAPITALIST, 3/10/10)
Japanese yen's strength only surprising if you don't know these factors (CHARTLINES (tm), 2/25/10)
Bit of technical positive divergence may help equities indices bounce near-term (UnBiasedTrading (TM), 2/6/10)
STERLING UNDER MORE PRESSURE (THE PRAGMATIC CAPITALIST, 3/9/10)
Read more on Index, Japanese Yen (JPY) at Wikinvest

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CVX, DIA, ESI, FXY, GLD, GME, HMSY, HYG, IYR, IYT, JNK, MANT, PEGA, PTM, SLV, SPY, UUP, XLE, XOM Comments
Feb
21

Gamestop (GME)

Charts and Coffee on February 21st, 2009 at 12:54 pm Central Time

I am looking at GME long. This stock is a very “fib friendly stock.” Look at the fibs from the IPO back in 2003. The first chart is a 2 year and the second is the all time chart from 2003. The last chart is the 3 month chart.

I will be looking to enter this [...]

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Fibonacci Friendly, GME Comments
Feb
20

Friday Recap – 2/20/09

Charts and Coffee on February 20th, 2009 at 5:23 pm Central Time

Just a short journal post tonight. I will have new ideas over the weekend and the Sunday Night Coffee post sometime on Sunday.
There seemed to be some thought today that Uncle Sam might nationalize C or BAC tonight or over the weekend. Obama then came out and deflated the rumors. We will see.
Today was a [...]

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AVAV, AZO, Auto Parts Sector, FITB, HMSY, IBB, IHI, PEGA, SPY, UYG, qqqq Comments
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