The chart of the day today was the Yen/Dollar pair. This can be traded via FXY. I think this can run back to its highs at $114. I would want to get in close to $106-106.50 and use today’s low as my stop out ($105.42).
I did reorganize my portfolio a bit today. With earnings season [...]
TLT is about at my target price and should find support in the $87 range. Why $87? We have strong horizontal support, fib support and downside momentum is getting extended (RSI at 30). So what does it mean for the market? Recently, treasuries tend to go up on down days when there is a “flight [...]
PEGA is worth putting back on the watchlist. I’m hoping this plays out as a flag pattern and consolidates a bit allowing an entry point in the next couple of weeks. Today’s low can be used as the stop out. RSI is now above 70 which makes the chances pretty good there will be a [...]
After a week of light posting last week, I should be back in full swing this week.
THE BIG PICTURE AND THE GOVERNMENT’S AD CAMPAIGN
Last week, was the biggest rally of the year thus far. In terms of news, the big move seemed to be caused by a discussion of a change to the mark-to-market accounting [...]
I will start off today’s Sunday Night Coffee post by getting a handle on the broader indexes and I will get more narrow in scope from there. I’ll be discussing the major indexes, the dollar, yen, some long ideas, the European banks, Las Vegas and my general trading plan for the week.
The first chart is [...]
Just a short journal post tonight. I will have new ideas over the weekend and the Sunday Night Coffee post sometime on Sunday.
There seemed to be some thought today that Uncle Sam might nationalize C or BAC tonight or over the weekend. Obama then came out and deflated the rumors. We will see.
Today was a [...]
I’m going to do tonight post in reverse order. I’ll revisit the indexes at the end of my post. There is actually more exciting things to blog about tonight than just a rehash of the indexes. This has been a really exciting week.
The first item of interest today was that I noticed a “tale [...]