It is very tough to get long or short the major indexes right here. In the pre-market, SPY is trading at $106.70. So even with the big surge up there is no breakout above the wedge of over the Lehman gap. Until both of those resistance points are taken out, it is not safe to [...]
Earnings are out from MON (Materials/Agriculture) , WWW (Textiles/Apparel), COST (Retail), FDO (Retail) and AYI (Home Furnishings).
Based solely on the pre-market reaction, the reports look good and all of these stocks are headed higher (except WWW which is not yet trading). While none of these names carry the weight of a GE or Fedex in [...]
Earnings season is often a great time to trade because it provides a catalyst for many stocks to be temporarily mispriced. Some stocks go through the roof and get way overbought on the euphoria of an earnings report. Sometimes it is even coupled with upgrades on the same day or within the days after the [...]
After a crazy week, my account is in the same spot it was at when the week started yet my portfolio is a very different animal. I was nearly 100% invested a week ago and I’m down to about 40% now. I have also gone from a very short portfolio to a delta long portfolio.
I [...]
