I’m going to wait until next week for the confirmation, but the intermediate term bottom I have been writing about for USD may be in. FXE is currently trading below the 50-day SMA which has not occurred since April. Note that there were some very minor protrusions in August and October so we’ll need [...]
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With all the talk of bank stress tests, I think today was great because it provided an opportunity to stress test your portfolio on a big down day. For those shooting for a neutral delta, today was day to see how your portfolio performed on a big down day.
For me, the results were a little [...]
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I decided to take a small anticipatory long position when GME pulled back to $28. I then noticed half way through the day that my broker executed my buy order two times and that I had double the position size intended. Therefore, at around $28, I trimmed it back down to my intended position size [...]
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The fibs continue to amaze. I’ve used the retracement levels feature in Prophet to plot out the key levels on $SPX. I gave the entire list of RL levels in anticipation for trading down to 600 in my “Fib Spectacles” post earlier this week (whether it is soon or later in the year).
Because the [...]
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It was only a couple of weeks ago that I posted “be patient” or “wait for the triangle to break.” In contrast, we are now hitting one of those points in the year where things are getting easier and lots of money can be made. I have observed over my years of trading that every [...]
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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 [...]
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With leadership like this, is it any wonder prices have rolled back to 2003?
Enough politics … Today’s charts:
First, not to keep showing the same charts, but I think it is important to keep your eye on the ball. We are at critical support on both on the Dow and SPY.
Unfortunately, Prophet is a little bit [...]
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Look at the 2 year chart of GLD verses DBC. DBC includes commodities heating oil, aluminum, wheat, crude as well as gold. There are two major divergences to note on the chart. For most of 2007, all of these commodities were highly correlated. In March of 2008, DBC ran way up while gold traded sideways [...]
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