The market is right at an inflection point. 880 was tested today and held. Coming into the day short, obviously I was disappointed when the GDP number disappointed and the market still held up. I then thought that the market might fade after the initial pop but it held.
I did add long positions in [...]
Continue reading about Sticking With The Plan; Shifting From Junk To Quality
The market is definitely in consolidation mode right at major resistance. The end result will be a big move up or down. If the major indexes do breakout over resistance, it will likely cost me my April profits. I have asked myself the question whether taking such a strong position is worth it here? I [...]
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 [...]
SGR reports earnings on April 8th. If it is a good report, I would expect a break above $30 and I would be looking to get long.
MOO (Ag Stock ETF) looks like it could be ready to make a move. My read on the chart is a double bottom in October/November followed by a consolidation [...]
