Morning Thoughts July 13
Please watch the morning video for all the details. But please note that we have an important daily candle on the SPX and RUT charts. Yesterday’s hammer candle if confirmed with another ‘up’ day in coming days may setup a swing trade long.
Bucket 2 – New Trade
Just bought some SPY near $135.0 We did this via options but consider it long bucket 2 SPY with an upside target on the S&P 500 at 1386 for now. A stop around 134.70 on SPY
Mid-Day Thoughts
in general we just need to understand that this market is no longer analyzable (if that’s a word) technical analysis doesnt work, fundies dont work, prayer doesnt work so we just wake up each morning and take a few stabs at it and chill after that i had a good dinner with a few other […]
Morning Thoughts June 28
Another good performance yesterday – VWAP held on SPX all day (we tested it more than 5 different occasions, and was a great support) – Overall not much short-covering (Energy saw biggest squeeze) – BETA bought (RTY and SOXX good moves). Volume tepid….5.8b shares – down 3% vs previous day and down 20% vs. 20day. […]
Morning Thoughts June 29
Though ended down, market rallied 1.2% last 1 ½ hours of trading – Volumes ok (improved as we rallied) – up +17% DoD and inline with 10day ave – though we felt heavy most day, BETA big outperformer vs. the indices – Cyclical index was up 25bsp….Look at Russell….ended basically flat. PM rally attributed to […]
Morning Thoughts June 27
Decent day but volume remains weak – lightly moved higher from 11am ET lows – Started to rally after headlines “German lawmakers told ESM seniority to be discussed at EU summit” – also good to see we didn’t sell off after 3pm headline “Egan Jones ‘downgraded’ Germany”. Weak macro data was ignored- Richmond Fed Manufacturing […]
Afternoon Trading Update
Stocks are giving us a little consolidation rally here today but note the bear flag forming on the S&P 500 chart below I will reiterate again that all charts and almost all asset classes are correlating now more than ever…and its not a healthy sign. It shows fear in the market. ….everything correlates and trades […]
Morning Thoughts June 26
Ugly day in TERRIBLE volume – 11% below 20day ave – didn’t crack 6b shares – no one wanted to play ahead of the EU summit meeting (Thu-Fri). We started the day down and traded sidways most day Flight to safety evident – Coals, Semis, Brokers, Lifers all hit – Uts, Telcos, Gold/Silver, Pharms better […]
Nutty correlation of SPX and Oil intraday
Bucket 2 Trade Idea
As an alternative to shorting the SPY here for a quick bucket 2 trade I see JPM setting up. The stock found resistance at its 200 sma (red line) and formed an outside day yesterday on big volume. Historically the 200 sma has worked pretty well for support and resistance on JPM, at least […]