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 […]
Top of 10 day range right NOW
Portfolio Holdings Dec 16
90% cash Bucket 2 Symbol Open D Direction Sectors Avg Entry Stop Target 1 FDX 12/16/2011 long Indu 85.1 80 90 SPY 14-Dec long INDEX Bucket 3 Symbol Open D Direction Sectors Avg Entry Stop Target 1 GDX 7-Nov long 63.04 56 65.5 […]
Bucket 2 Trade Idea: FDX
Fedex (FDX) reaffirmed its guidance and technically looks like it could be a potential candidate to buy if Santa wants to make one last attempt at a rally. A close above $84.50 on solid volume would get us long Bucket 2. (See the chart attached). Note the long hammer candle ( long tail) from yesterday […]
Long FDX
We are now long FDX (FedEx) for Bucket 2 as of 10 AM ET today