Equities holding on to a thread: Global risk assets signal caution
While the major U.S equity indices are solidly in the positive for the year, signs all around us indicate that it may be in increasingly difficult for these gains to hold. From awful looking equity index charts in Europe and Asia, inverted yield curves in Spain to ultra-low bond yields in the U.S. and rising […]
Morning Thoughts July 26
A mixed day yesterday and a wild overnight session leads us to open up the markets about 1.3% higher this morning. I reiterate my cautious stands on having any overnight risk (unless timeframes are long enough)…last night was a perfect example. EUR/USD after breaking down earlier last night is now back at a one month […]
Three stocks I will watch today
three stocks i will also have on the radar today: WFM, CROX, CAKE. All are up premarket after earnigns last night. Ideas on these names will likely involve options strategies.
AAPL falling out of a consolidation wedge
Plain and simple: A weak close today is shortable for a trade to $550
Morning Thoughts July 24
We have mixed signals this morning from small and large cap stocks as Russell 2000 is now underperforming the S&P 500. If you recall the reverse was in play two weeks ago and that made us bullish for a trade. A follow-through up day in coming days would save the bulls. Haliburton (HAL) looks good […]
S&P 500 Futures Update
S&P500 futures are now finding support for the fourth time in the 1336 – 1339 zone since mid day yesterday. A break below there and yesterday’s lows should be retested or broken.
Closing SPY Long Position
After closing 2/3 of the SPY long position late Friday we just sold the rest 1/3 of the position. Net net small gains for the trade. We can always re-enter he market should the opportunity present itself in coming days
Morning Thoughts July 23
Last Friday’s reversal gives us reason to be cautious again on the long side. We closed 2/3 of our long position in SPY late Friday at the weak close. Today’s close will be important; a weak close may intensify a sell signal while a moderately strong to strong sign would be further bullish. The S&P 100 […]
Update on Haliburton
Haliburton (HAL) is following through to the upside today after earnings. Upside target near $33 looks good. Stops can be placed near today’s low or higher.
Mid-Day Update
For me this week is over here. its such a heavy summer week…tons of folks absent. on the broker side the desks are like 50% staffed I am taking tomorrow off but did move the stop on SPY bucket 2 long position up to 1360 SPX equivalent tomorrow is options expiration friday…a day i dont […]