JCP – Better Technical Resistance 10% – 18% Higher
Department store operator/retailer J.C. Penney’s (JCP) fall from grace in recent years has been well documented. The analyst community’s seriously feisty opinions on both sides of the stock is almost Apple-esque (AAPL), which is a testament to how broad an audience is following this story. The longer-term chart shows the stock’s dramatic 85.00% fall from […]
Morning Thoughts Sept 11
As stated yesterday morning, since we have come within 1.25 points of reaching our next upside target at 1440 on the S&P 500, we have gone back to market neutral for the time being. We must now measure how any consolidation looks like. A shallow pullback with good support could easily push the S&P to […]
EUR/USD at 200 SMA
From the macro picture GDP has been slowing since the previous 2012 equity highs in April. Now EUR/USD just hit the 200 day simple moving average which may act as some resistance at the very least.
Morning Market Thougths July 11
Spanish 10yr sub 7%. FinMins agreed on an outline for Spain’s €100B bailout plan and Draghi hinted at more rate cuts. However, Germany’s Weidmann said bailout rules have been weakened; ESM injunction could pose a risk to markets; Schauble said EZ nations need to deal with their own problems and Euro-area in a very tense […]
Charts And Thoughts For The Week Ahead
It was a tricky week of trading last week. As we head into the new week let’s look at some charts for perspective; The S&P 500 and Nasdaq 100 left outside weeks on their weekly charts while the Russell 2000, the transports and financials had inside weeks. Both types of candles are potentially bullish, but […]
Morning Thoughts January 11
5mo high – SPX held 1,290 – Great action on improved volume – beat 5day average by 7% (10day by 30%) SPX 1,300 now a short-term target (also a retracement level technically) Dow momentarily traded above 12,500 early in day, but failed to hold. Some profit-taking late day as VWAP was hard to hold on […]
Portfolio Holdings January 11
85% Cash Symbol Open D Direction Sectors Avg Entry Stop Target 1 FDX 12/16/2011 long Indu 85.1 80 90 SBUX puts 3-Jan long April 45 strike puts Cons Cyc 2.76 CROX 4-Jan long Cons Cyc 15.97 FXE 5-Jan long Currency 127.47 GMCR 6-Jan short Cons Staples 43.23 […]
Three Charts For Today
Here are our three charts for today: GRMN, the stock is up more than 30% since October and relatively speaking has gone vertital since December. FSLR is slowly coming out of its downtrend dating back to Summer 2011 The chart of the BKX bank index….huge level near 42.50, which we are currently trading above a […]
Profit Taking In Bucket 2
Just took 1/3 profits in the Bucket 2 long position in CROX. 9.50% rally on the day, gotta take some off here.
Bucket 2: More Profit Taking
Just took another 1/3 profits in CROX. Only 1/3 of the original position remaining, which we will keep for now.