Fresh All-Time Highs for the Dow and S&P 500 soon?
Both the Dow Jones Industrial Average and the S&P 500 remain solidly in the positive column for 2013; the benchmark indices year to date are higher by a little more than 7.00% and 6.00% respectively. Moreover, both indices are within arm’s length of re-testing and possibly shooting past their all-time highs set back in October […]
NCR; Short-Side Opportunity With Defined Risk
NCR Corporation (NCR), the manufacturer of ATM machines, self-checkout and self-service kiosks and more has had an impressive run this year as the stock is up 50% to date. The stock, which trades in rather volatile swings, gained a quick 20% from November 16th to December 7th as word got out that the company is […]
S&P 500 Double Top?
Given that exactly one week ago on October 5th the S&P 500 failed to pierce through its September highs and has since retraced about, 2.50% some have asked themselves whether the charts are flashing a classic ‘double-top’ sell signal. In short, at first glance a double top is plausible, yet if one digs a little […]
Morning Thoughts July 12
Charts speak more than words, so lets look at a few of them this morning. Overall much has been thrown at equities here and they are just slowly moving lower, no crash. This leads me to think we may have a little relief upside here soon for a few days. But as always, we need […]
Morning Thoughts June 12
SPX opened on highs and closed on lows on heavy volume (126bp move down). Despite EUR 100bn bank bailout, IBEX closed -54bp (fell 500bp+ intraday) & 10yr +30bp to 6.466. Also weighing on sentiment, Moody’s is expected to announce downgrades to 17 global banks this week (TTN). Despite heavy closing volume, overall volumes were -8% […]
Afternoon Update – Please Read
A couple of thoughts as we head into the afternoon session. After a choppy early morning stocks found a thus far low for the day just around 10:45 am and at the 1305 – 1308 support level on the S&P 500. That support level also coincides with the 38.3% retracement of the equity bounce in […]
Bucket 2: Profit Taking
Just closed our long position in FDX at $90.30. Brings our cash levelsback to about 85%
Morning Thoughts January 12
Welcome back to the wolf pack. This morning's big gap up (which as I type this is almost evaporating) is being embraced by long-only managers in Europe. Let that be a flashing warning signal to us…always, always fade long-only managers in Europe (and in the U.S. for that matter), Futures overnight bumped up at the […]
First Order Of Business Today
As first order of business today we will close the remainder of our Bucket 2 long position in FDX for profits. Industrials have acted well and should at the very least be due for a pullback along with the rest of the market…after which theuy may be buyable again..or not.
Portfolio Holdings January 12
87% cash (mistyped earlier) Symbol Open D Direction Sectors Avg Entry Stop Target 1 Target 2 Closed P Closed D Notes FDX 12/16/2011 long Indu 85.1 80 90 90.3 12-Jan closed 1/3 at flat on 1/9 for risk management SBUX puts 3-Jan long April 45 strike puts Cons Cyc 2.76 […]