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 started looking at various market indexes this morning and wondered how it was possible that the stock market could be 50-60% off of its lows (but still 30% from its highs) with fake government unemployment numbers approaching 10% and real unemployment above 10%. In terms of failed institutions, we have lost Bear Stearns, Lehman [...]
Continue reading about New Bull Market – "The Government Bubble of 2009"
When I look at the 5-year SPY chart, I think it can only be viewed as bullish. But, I’m still in this same mode that I have been in the last few weeks. RSI has been over 70 since about July 20th and this momentum is simply not sustainable. I cannot get long until there [...]
This post is really for those individuals that have a bearish long term view but also desire to participate in the rally. Put another way, what is a reasonable plan for getting long the market but being the first one off the train when it goes off the tracks?
The first part of my plan was [...]
Continue reading about To Have One’s Cake and Eat It Too (Sunday Night Coffee)
The main index I am following is still the Nasdaq and specifically the QQQQs. Technically, everything looks great and the QQQQs are holding support over the October gap.
RSI is going sideways at about 70 meaning there could still be room to run on existing positions but I wouldn’t want to add to my long QQQQ [...]
This week, many of the major indexes are right at resistance or support. We definitely want to be prepared for action this week and all of the potential permutations of how things could play out.
We are all waiting to see if the January and February highs at 880 ($88 SPY) will be a breakout or [...]
