For those interested in socially responsible investing, I think MON is a great short candidate.
MON has completed a beautiful head and shoulders pattern and will be ripe soon to short. I am looking for a retest at $77, Stop $82. With RSI at 33, I think we have a good shot at the retest. Take [...]
I have closed my long UNG position. In this kind of market, only the highest quality positions will get my attention on the long side.
I mentioned in the middle of the day today that resistance holding on DIA at $85.35 was a key level. This level held and we spent most of the day range bound between $85 and $85.35 after about 10:30 EST. If this level holds, the argument for a H&S topping pattern stays in tact. [...]
The head and shoulders scenario I spoke about yesterday is at risk. We’re at a critical level at $85.35 on DIA.
Overnight range on ES broken to upside. I reduced my SPY hedge a little and added GNW long.
I’ve been through a lot of charts this morning and I am seeing both bullish and bearish setups. I don’t see strong evidence to support taking a bullish bias or bearish bias. With this in mind, I am trading small right now and trading out of a hedged portfolio. My current bias is a little [...]
Today is my first installment of the “education” and “how to” section of the Charts and Coffee Blog. My plan is to commit to doing one of these posts per week (most likely Saturday). I won’t necessary post these in any particular sequence, but I will organize these posts on the right hand navigation pane [...]