THE BIG PICTURE
I’ve looked at 200-300 charts this morning and the charts generally look bullish to me. I’ve been following QQQQ to give me market direction, and we set a new intraday high over the May high and the intraday action also breached into the October gap (although it has yet to fill it). There [...]
Paul Tudor Jones II – “I see the younger generation hampered by the need to understand and rationalize why something should go up or down. Usually, by the time that becomes self-evident, the move is already over. When I got into the business, there was so little information on fundamentals, and what little information one [...]
Added THI long on the symmetrical triangle breakout.
Stopped out of DLTR and TBT. Trimmed positions back to original size throughout the day.
ELN up over 20% in after hours trading. Trimmed it back to is original position size.
A week of churn for me but another great month.
Dollar is getting crushed again this morning.
- GOLD up another 4% in the premarket. Trimmed it back some more.- Covered a little more of my QQQQ hedge at $35.13.- Trimmed a little DXO (up over 4% in the pre-market).- Trimmed MTL back to its original position size.
For those that got in on UNG, up 3% [...]
It looks like a little double bottom might be forming on the QQQQs. Can it punch through $35.5-$36?
AAPL, as the largest component of QQQQ, looks very similar to QQQQ, except it has already broken out over resistance at $132. While I am not getting long QQQQ and AAPL right here (in fact, I still have [...]
I will start by saying today was a great day. After the rough day yesterday, I got almost all of it back today. Even better, I think I added some good inventory today. I will get to the daily analysis in a minute.
One thing some of my readers have learned but many do not know [...]
Having a decent day today.
- Shorted DRI at $36.40- Covered a small amount of my QQQQ short.- Added a small amount of DLTR long at $46.- Giving UNG another go at $13.70. I’m using the low at $12.70 as my stop out.- Trimmed junk longs CVI and CIT.- DBB is right near my stop and [...]
AAPL above 132 if it holds increases chances of breakout on QQQQ. Covered a small amount of my QQQQ hedge.