S&P 500 Five Day Average True Range
The five day average true range of the SPX is again just below the average for the year…currently near 13. Each time this happens I take note and mentally at least prepare for bigger moves down the road.
Morning Thoughts July 9
New 1yr low for the euro on Friday (-86bp at 1.2285). Spanish 10yr back around 7%. IMF’s Lagarde said likely to revise global growth outlook lower. US NFP disappointed at 80k vs 100k consensus. However, bulls will point to the increased chances of QE3 Broad-based weakness with all 10 sectors lower and 23/24 L2 sectors […]
Gaps on both sides of the market here…
The chart below is of the S&P 500 emini futures and depicts 30 minute intervals. Note the gaps on both sides of the market. One or both of them should fill in the not too distant future
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New Bucket 2 Trade:
We are short GMCR as of Friday jan 6th as the stock is breaking out of a very tight consolidation range to the downside. Short GMCR at 43.23
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. […]