Before I attack equities, I’ll be looking at bonds and currency. I think it is always good practice as an equity trader to be aware of the much larger bond and currency markets even if you don’t trade them.
BOND FUNDS
I’ve been mentioning LQD for a long time and its ascent finally blew up last week. [...]
I saw this little blurb on Drudge Report quoting Obama. I was intrigued by the title because I had already decided that the common thread for my Sunday Night Coffee post was that the market was finally taking the excessive spending by the government into consideration. I am glad that perhaps the President understands this.
Let’s [...]
This week looks like it may present some opportunities to take some cuts to the short side.
- Resistance at 880 (January and February highs)
- 880 is the level which provides a complete retracement from the huge February drop. That was a 24% drop down from approximately February 10-March 9.
- $SPX/SPY is now up [...]
Tonight I decided to revisit my posts from early March.
Short Term Price Target Reached on $SPX – http://chartsandcoffee.blogspot.com/2009/03/short-term-price-target-reached-and.html
Long Case for $SPX – http://chartsandcoffee.blogspot.com/2009/03/update-long-case-for-spx.html
While we are not in slam dunk mode like we were in early March [yet], I am getting excited because I think the market may be getting easier from a directional standpoint. In [...]