we are long MS for bucket 2 swing trade
We are long MS from $16.97. stop at $15.90 and first target near $19 to $19.50. Reason: Strong intraday recovery, strong daily candle, support at 50 sma and 50% fibonacci retracement…financials lagged all day but suddenly picked up slack. Back drop from g20 improved…that can flip on a whim…all depends on what side of the […]
long MS
we want to initiate a long position in MS today before the close if it looks like the stock will close no lower than $16.80
still not much to do…but observing is critical
headline risk out of the g20 meeting is way too big to add any positions in either direction. we discussed MS yesterday and below note the chart of the XLF financials etf. if the XLF holds and bounces off the $12.50-$12.75 area it should also give us more confidence in a long-side try in MS, […]
Gold setup to the short side?
Gold has arrived at an interesting crossroad here. From the early September highs to the recent lows it has now retraced 50%, and also exactly run into its 50 day moving average (yellow line). If we think about it from a correlation point of view with equities (second chart below) , note it's fairly inverse..i.e. […]