Morning Thoughts January 9
This morning it's all about timeframes…and that's what we do! Friday's trading session was rather flat and uneventful, which was to be expected after busting out of the gates the way we did on Tuesday when they opened the markets for 2012. The 'easy' trade to the upside is likely over, although we still expect […]
Portfolio Holdings January 9
84% cash Bucket 2 Symbol Open D Direction Sectors Avg Entry Stop Target 1 Target 2 Closed P Closed D FDX 12/16/2011 long Indu 85.1 80 90 MMM 9-Dec long Indu 81.73 77.5 85 83.68 9-Jan SBUX puts 3-Jan long April 45 strike puts Cons Cyc 2.76 […]
GMCR Update
We are short Bucket 2 GMCR…so far today it is dropping nicely…some supporrt near $41 should be expected.
Bucket 2 Trade Update
We are shrinking our Bucket 2 long position in FDX by 1/3, so we are left with 2/3 of the original position. We are doing this pretty much at the entry price, so no gain or loss…just taking some risk off the table.
Monday Afternoon Update
if we were to tally it up right here right now at 3PM ET we'd see a flat session…with a decent intraday swing. Financials are at the forefront again today along with industrials. Nothing is really moving a ton however, except silly stocks like GMCR which is up off its intraday lows around 8% today. […]
Reducing GMCR Position
Given the monkey move higher in GMCR today we are reducing our short position some now. Clearly the break lower that we saw was too obious for it to work in a classical fashion. So, we are reducing size and should we get a break out to the upside in coming days we could even […]
A Bullish Sign: Weak Non-Cyclical Sectors
A very basic but time-proven way to measure risk appetite in equity markets is to follow the performance of cyclical versus non-cyclical market sectors. During times of better performing economies the so called cyclically sensitive sectors tend to outperform. Stocks such as Caterpillar (CAT) in the industrial sector or Dick’s Sporting Goods (DKS) in the […]
Morning Thoughts August 8
Yesterday’s rally managed to close above the open gap and we now have two significant open gaps below us as support reference points. We reached our first upside target on the S&P 500 yesterday near 1406. We’ve discussed this upside target since Monday. Next upside target is around 1420, although in the immediate term we […]
Small caps and transports still lagging
…and that concerns me about upside. A ton more upside gets difficult as long as small caps and transports dont lead upside.
Morning Thoughts June 8
most fireworks in AM (China rate cut, Bernanke’s speech, BoE call, etc) – Volumes back to norm (down -4.5% vs. previous day and -3% vs 20day). Treasury stable (10y rates 1.65%) – Defensives better – fresh-shorts laid out (Energy and Mining specifically). BUT we started to fade after 1) Bernanke said “ready to act” but […]