Silver Is Now Testing An Important Brakeout Level
After breaking higher through $31 exactly one week ago (last Friday), Silver is now again testing that level. $31 might not be as important as say $30…and we could easily see $29 or even $28 for the chart to still be constructively bullish. For now just be aware that Silver had a good […]
Near Term Support Found In The S&P 500
I'm very satisfied the way I traded the afternoon today. After looking for a re-test of the overnight lows at 1293, using SPY puts (documented in the blog here in real time) I took those profits right at the bottom. Next I waited for some confirmation that the bottom might be in and then […]
S&P 500 Below The Trend Line Now
note the cone-shape channel (teal/light blue) on the chart below. we are trading below it for the first time now..that is since beginning of last December. if we close below it I think the rally has one more little piece of headwind against it.
Small SPY Puts Position
i have a slice of puts in the SPY for a little intra-day (bucket 1) try…should we retest the overnight lows…fyi
I Closed The Small SY Put Position At The Overnight Low
…and i think we could rally here…maybe we just needed to re-test the overnight lows before we can head higher. i don't have any intraday (bucket 1) horses in the 'bullish' race though
Tiffany (TIFF) Is Falling Hard Of All Time Highs
TIF hit $65.75 in the latter part of December 2010 and attempted to retest that level last week. It came close but has fallen hard since. The stock almost quadrupled from the low in early 2009 to the high of December 2010. 1. As it relates to the global recovery, I am doubtful that the […]
S&P 500 E-Mini Futures Updates
after the big selloff at the open of trading in Europe, the market has worked higher since and came within a couple of ticks of hitting the overnight high. there's always a tendency of retesting over night highs and lows. IN today's case, should we retest the overnight low at 1293.5, that's another 10ish […]
S&P 500 Support And Resistance Levels
Here are the next support and resistance levels in the S&P 500, denoted by the horizontal white dotted lines…ok maybe they are off-pink.
What One Man Learned From A Hedge Fund Giant
Here's what James Altucher wrote he learned from his communication with Stevie Cohen from SAC:" A) Go for it. If you want to work for someone. Email them today. B) Be persistent. Make sure you have something to say: but say it every month. Until they respond. At some point if you deliver enough value, they will […]
Wal Mart (WMT) Stock Is Underperforming
Look at the following chart and note Wal-Mart is back at price levels last seen in early September 2010 and traded -6.55% last week. Whether or not this was an over-reaction to the earnings announcement remains to be seen, but purely looking at price action speaks volumes. WMT has broken multiple resistance levels and […]