Portolio Update November 16
Bucket 2 Symbol Open D Direction Sectors Avg Entry Stop Target 1 Target 2 WYNN 31-Oct short cons cyc 133.13 141 128 as low as 90 Bucket 3 Symbol Open D Direction Sectors Avg Entry Stop Target 1 GDX 7-Nov […]
Morning Thoughts November 16
The resiliency of the stock market continued yesterday as a rally that started mid-day proved to be relentless and pushed stocks to finish higher on the day. That now leaves Santa-Rally hopefuls holding onto their mistletoe as major U.S. indices are on the verge of breaking near-term resistance areas. The caveat however is that just […]
Couple of important charts
Two charts just for a little perspective…respect the potential strength. We don't yet have any positions leaning that way but are watching closely. Semiconductors (SMH) look like they want to get frisky and jump over the resistance line and teh 200 day moving average. The Dow too is looking ready to pop.
AAPL still holding near $380
if this alpha animal ever ends up with a daily close below $380 (379 doesnt count), it may offer a good Bucket 2 short opportunity to around $365
Morning Thoughts November 15
Yesterday's intraday trade was directionless and nearly impossible to trade with any conviction. That is to be expected on the second lowest volume day of the year. Why such low volume? My guess is that investors are extremely unsure of what to expect over the next few weeks so decided to sit yesterday's session out […]
Triangle in the SPX
UBS denotes: "Triangle Forming in SPX In line with our recent call, the US market underwent a short-term pullback. However, the whole consolidation phase and in particular last week’s pullback produced just another higher low in the SPX, which shows how resilient the market is on the downside. Furthermore, from a pattern standpoint the sideways […]
Bucket 3: Bought some RIMM
We just bought some RIMM for Bucket 3 due to takeover speculation….we will buy a little more later on today. Will update this post with chart and more reasons soon..
Copper…see the chart for some macro perspective
yes it broke its uptrend since 2009 back in August when everything also broke down…it's now consolidating some before likely resuming its downtrend…and taking the economy growth rates down with it.
Bucket 2: CRM long-side Idea
Another candidate for potential year-end squeezage is CRM. This momentum-trader favorite and otherwise volatile nutcase may just be something that the fund communtiy tries to chase into end of November or so. We would be interested on a solid daily close above $137
Bucket 2: CAT Potential Long-Side Idea
we have discussed CAT continually in September and October and here it is again. the stock is at major crossroads with resistance at its 200 day moving average and the 61.8% retracement. The stock has decent respect for the 200 sma as support and resistance so this should be watched closely. A break above it […]