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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]