Energy Sector Getting Top Heavy Here
There is no doubt that the tape is feeling heavier since last week's sell-off. One of the sectors that is feeling particularly heavy is the energy sector. I always feel that partticularly for ETFs that nowadays get thrown around as if they are an individual stock, it is particularly important to be aware […]
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The Bears
Are The Bears to Scared To Bounce? Just look at the simple chart of the S&P500 (SPY) below. The fact remains that every single dip got bought more aggressively than the last one over the past . After so many slaps to the head do you think the bears might just be a little shy to […]
Morning Thoughts Dec 9
Today's announcements out of the EU summit will be key and likely the catalyst for either a year end rally or a stare into the abyss. Importantly but very simply, a break above the 1265-1270 area on the S&P 500 will get us long various stocks from our wish list via Bucket 2: SPY, CAT, […]
Portfolio Holdings – Dec 9
No changes from yesterday: http://steadytrader.wpengine.com/portfolio-holdings-dec-8/
Snuggling between two gaps:
Chart of the S&P 500 emini Futures (March)…but this gap is all over other charts like the SPY and SPX as well of course. Note the large gaps below and above us here…we will eventually fill one soon…
Bucket 2: New Position
We started a little at the bucket 2 buy wish list and bought an initial position in MMM just now.
Morning Thoughts November 9
All it took was the resignation (or at least a pledge to step down) of the Italian Prime Minister Silvio Berlusconi yesterday and stocks rallied hard off their daily lows to close at their highs. In true risk chasing fashion cyclical stocks like financials and energy stocks led the day higher as fund managers hopped […]
Portfolio Holdings November 9
Bucket 2 Symbol Open D Direction Sectors Avg Entry Stop Target 1 WYNN 31-Oct short cons cyc 133.13 141 128 SPY 8-Nov l Index 127.5 124.5 129 Bucket 3 Symbol Open D Direction Sectors Avg Entry Stop Target 1 GDX […]
German DAX at solid near-term support
It's just a reference level to watch, but do watch it please: