A 11% Rally INTO Earnings Season…

…this makes it just a little…or maybe alot…more difficult for companies to rally significantly THROUGH earnings seson.  it's something to keep in mind as we are setting up for JPM and GOOG to report tomorrow. what are we doing?  trimming off some of our long bucket 3 inventory in CSCO and feeding it to the […]

Update on CSCO

our bucket 3 holding in CSCO remains acting well…which is easy in this type of bear market rally, so no selfglorification here.  the weekly chart shows resistance right here right now. ditto on the daily chart…the 200 moving average right here…right now the long term target level for us is near $22…but i reiterate…LONG-TERM

Boring Tape…Patience is needed

Buying into a 11% rally (SPX) in just 6.5 trading sessions is  bad risk/reward.  the trading week thus far is boring and is requiring much patience.  patience however will get rewarded if we exercise discipline.  at this stage our portfolio is fairly flat and we are looking for a little pause/pullback of this rally.  until […]

Taking profits in EUR/USD long position

we are long bucket 2 FXE and the eur/usd fx cross now it our target.  we want to take full profits here at the open. there is better resistance near 1.39 and 1.40 but 1.38 is more conservative and was the profit target we set at the open of the trade…gotta stick to the rules […]

Banks at important near-term resistance zone

banks are running into initial resistance her after a massive rally off last week's lows.  Stocks like MS are up 30% off the lows and the BKX and XLF are up about 12% and coming into their 50 day moving average and resistance line.  some consolidation here would be healthy before then possibly heading higher […]

Morning Thoughts October 12 2011

After an out of the gate rally on Monday that lasted all day and closed at its highs, Tuesday was marked by some hand sitting as major U.S. equity indices digested the massive 9% gains in the case of the S&P 500 of the past six trading days. The Russell 2000 much like the S&P […]

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