Market Day Summary May 2nd
The day started with exuberance and joy from the news about BinLadin's death and ended up selling off. Silver got hammered to the tune of 9ish% and major U.S. equity indices sold off roughly 1/5th of a percent each…except the NDX, whch stayed flat. For our part we made good money short Silver be entering […]
AMZN On The Run Higher Again
We pointed this out in the weekly newsletter (http://steadytrader.wpengine.com/newsletter/) over the weekend, and today AMZN is off to the races higher again. At some point here soon a pause is due, but just so we've mentioned it…these inverted head and shoulders patterns are pretty to look at but don't work well (as with most things) […]
We Are Short Silver Again, For A Trade
After scaling out of the short SLV last week for a scratch trade, today we re-entered on the short side. See the analysis from earlier today here: http://steadytrader.wpengine.com/a-look-at-silver-after-last-nights-crash/ After SLV gapped down this morning we went short on a 50% retracement of the open gap, at 44.98. Today's earlier low near $43.50 will be target 1 […]
Breakout In Crocs, Inc (CROX)
After reporting earnings last Thursday the stock has come back to a the $20 area which previously served as resistance. We think a trade is setting up here for a bucket 2 swing trrade.
Baltic Dry Shipping Index Not Participating
The baltic dry shipping index reflects rates charged for commodities shipping. The index is usually considered a fairly decent indicator of economic demand for goods and growth but over the past two years the index has done nothing at all, indicating demand for shipping is not on the rise. I have pointed this out […]
A Look At Silver After Last Night’s Crash
Last night silver futures fell as low as $42.20, about a 10% sell-off. As of this writing the futures have rallied back up above the $45 mark, but still down over 6% on the day. See the intraday chart. On the daily chart note the uptrend measured from the end of January is still in […]
The Cost Of Healthcare Continues To Rise…
See the below chart, which shows total labor compensation increase in the first quarter of 2011 of 0.60%, but if you take into consideration the benefits cost (healthcare), net labor compensation only rose 0.40%. businessinsider.com pointed this out and the statistics are from the Stlouis Fed.