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Morning Thoughts December 21
Our cautious stand on the short side (very few short positions) paid off yesterday and as suspected a rally arrived that left serious wedgies on many who piled into fresh shorts on Monday. While anything is possible in this tape it does look likely for stocks to rise further in the next few weeks. On […]
Portfolio Holdings Dec 21
85% Cash Bucket 2 Symbol Open D Direction Sectors Avg Entry Stop Target 1 FDX 12/16/2011 long Indu 85.1 80 90 SPY 15-Dec long INDEX MMM 9-Dec long Indu 81.73 77.5 85 Bucket 3 Symbol Open D Direction Sectors Avg Entry Stop Target 1 […]
Above the downtrend channel now
So far this morning the S&P 500 has broken above its 12 day downtrend channel…as have many other stock indices both stateside and in Europe:
Our 24 Hour Game Plan
As of right now equities are up between 3% and 4% on the day. Rather than piling into new Bucket 2 longs here today we will wait and see if we can buy some tomorrow morning into a little dip. We will be intersted in buying some EAT for a Bucket 2 try tomorrow. In […]
Morning Thoughts December 20
No changes in the portfolio yesterday…85% cash. Just a couple of charts for perspective: Last line of defense for equities here…on the S&P 500 we are at the 61.8% retracement of the latest rally. If we fail below 1200 it will become incrementally more difficult to not fall into the abyss soon. The German Dax […]
Down-Trending Channel Still In-tact
15 minute 10 day chart of the downtrending channel on the S&P 500. If we remain in the channel and head lower 180-1190 can easily be reached in coming days. If we break to the upside of the channel 1240 should be possible.
Portfolio Holdings Dec 19
88% cash Bucket 3 Symbol Open D Direction Sectors Avg Entry Stop Target 1 Target 2 GDX 7-Nov long 63.04 56 65.5 RIMM 16-Nov long Info Tech 18.94 Takeover target Bucket 2 Symbol Open D Direction Sectors Avg Entry Stop Target 1 FDX 12/16/2011 […]
Morning Thoughts December 19
we remain of the opinion that a year-end rally stands a chance. At the current standpoint it is difficult to foresee the S&P 500 move above the 1300 mark the S&P 500 chart is showing two inverted hammers in a row on the daily chart, and that right at the 50% retracement line of the […]
Trade Idea: Walgreens (WAG) Covered Call
Covered Call on Walgreen (WAG) The covered call is a mildly bullish strategy. The reason it is only mildly bullish is that the profit potential of the position to the upside is limited by the short call. But the covered call can also partially offset a decline in the stock price (although the payoff diagram […]