Today looked like a lot of fireworks early but turned out to be a non-event. All of the indexes and stocks I discussed yesterday either closed above or at support.
SPY is a good example of this.
I ended up trading flat today which was good for a long portfolio. I rang the register on Standard [...]
This week’s Sunday Night Coffee post is similar to last week’s post. I’m carrying a long bias into the market this week. I see a lot of long setups and I am not seeing many good short candidates. There is some strong resistance coming which will at the very least cause the market to pause. [...]
I saw the headline on Drudge Report that stocks surged the most in 6 months since 1933. This begged the question of what happened after the run in 1933 and how much did the market move off the lows in 1933?
I only have data this old on $DJI. The interesting thing is that in 1933 [...]
I mentioned earlier today that government owned companies have been rallying hard.
Let’s take a deeper look.
I mentioned last week that I bought C on the breakout above the $4.50 level. Today C closed above $5 for the first time since January.
I mentioned that I shorted AIG in the pre-market at about $41.50. Obviously not a [...]
I’m looking for some short exposure and I shorted AIG in the pre-market this morning at $41.45. Of course, right after my order executed this shot right up to $42. I’m using a stop just above $44.
This 10-11% move will put RSI on AIG above 80. I usually like a recipe of shorting a very [...]
I’ve been surfing around and I have noticed that many are taking the long dollar trade. I could end up being wrong but I think long the dollar is a bad trade right now. If you look at UDN, it has been trending along the trendline since March. It is now close to the trendline [...]
Tonight’s post is short. The casino stocks look interesting.
XOM is forming a giant symmetrical triangle. How it resolves will certainly have a major impact on XLE and DIA. This is one to keep an eye on.
GLD sold off nicely today but only down to the lower trendline. We’re getting closer to the big move.
Since March, the dollar just keeps trending lower. I initiated a small long position in UDN today. I plan to continue adding to my position. I’ll be using the trendline to manage risk.
Today’s trades:
- Stopped out of [...]