Expedia (EXPE) Currently At An Interesting Juncture
EXPE caught my attention this morning as its option volatility spiked almost 20%. The stock itself so far today is down 2.40%, which comes after a 13% gain last Friday on news that the company will split its TripAdvisor company into a different publicly traded firm. Because there is corporate finance involved here on the […]
S&P 500 Inverted Head & Shoulders Pattern
I think it's worth pointing out the inverted head & shoulders pattern (bullish) that developed in the S&P500 over the past 1.5 months. With a neckline around 1340, if this pattern plays out texbook it would mean the SPX could rally all the way to around $1430ish. Just a thought for now though, I am […]
Outside Day In Silver
There is an outside day in silver in progress today and I am short the SLV as of late morning. A target at $38 is feasible in the very near term, stop is at today's high of $40.33
Semiconductors Slipping Lower Again?
I talked about it much lately and it's a big topic in the steadytrader.com chat-room and newsletters. Today AMAT and CY are slipping yet INTC is holding up well. Be that as it may, the SMH is down 0.90%, which isn't much, but so far the 61.8% retracement levbel near $35.10 has held as resistance. […]
Silver Leaving Behind An Ugly Bar And Volume
Just a quick reiteration of my earlier post on silver. Now on the close we are left with a pretty ugly looking candlestick bar on big volume. I'm definitely not saying it's a top here, but it is worth noting and I remain short overnight.
Chesapeake Energy (CHK) Attractive Above $34.60
See the narrowing trading range and how nicely the stock held above the 50 dma. Fundamentally as a growth story and alternative energy play I like the name as well. Arguably the stock has gone quite parabolical lately but the consolidation phase since late Feb ruary is helping digest the move from $20 to $35 […]
Morning Thoughts November 10
Yesterday we witnessed a major reversal. Please note the big gaps on either side of the market here this mornign. Currently as of 8:40AM we have about a 1.4% gap to the downside and about a 2.3% gap to the upside. That sets up clearly defined targets for Bucket 1 trades and possibly Bucket 2. […]
Portfolio Holdings November 10…with Commentary
95% cash, more or less the tape is insanely volatile and that currently makes it senseless to hold any bucket 2 and bucket 3 positions in equities. Our bucket 3 long position in GDX is a) wigh major exposure to gold (a commodity and metal) and b) somewhat of a hedge against lower stock prices […]
MF Global Advertisement
Just flipped through a Bloomberg Markets magazine from earlier this year and found this ad…..just sayin'
Bucket 2: WYNN – we added to the position again
WYNN is looking weak, we added to our bucket 2 short position again this morning. The head and shoulders pattern has taken its sweet time to work out but it it is now looking like it wants to resolve to the downside. We took first profits at $126 and see that if WYNN can close […]