Morning Thoughts January 10
A dull day yesterday – Volumes weak – barely cracked 6bn shares – down 2% vs. 5day ave – Turnover of $186b lowest. SPX holding above that 200dma steadily (we hit 1,275 and saw a good technical bounce) – outside of that, simply boring. Only meaningful headline in the afternoon was the Nov consumer credit […]
New Daily Segment: Three Charts For The Day
As of today we will start three charts for the day where we see interesting setups or see them interesting as a macro, micro, or techincal tell. The three charts will be available for all to see but we will describe a trade setup in one of them and that is for subscribes only. Shanghai […]
Portfolio Holdings January 10
86% Cash Bucket 2 Symbol Open D Direction Sectors Avg Entry Stop Target 1 FDX 12/16/2011 long Indu 85.1 80 90 SBUX puts 3-Jan long April 45 strike puts Cons Cyc 2.76 CROX 4-Jan long Cons Cyc 15.97 FXE 5-Jan long Currency 127.47 GMCR 6-Jan short Cons Staples 43.23 […]
Bucket 3: New Trade
Bucket 3, new trade: short WBMD June 30 calls The stock is down 26% today on news of the CEO resigning and the company not being up for sale any longer. Sales guidance is very murky at best This is a classic Bucket 3 options strategy trade for us where we sell far out of […]
Is The 200 DMA Useful For The S&P 500?
Yesterday the S&P 500 closed right near its much talked about 200 day simple moving average; the closing print for the S&P 500 was 1377.51 and the 200 day moving average closed at 1380.71. As we are once again at this crucial support for the S&P 500 I wanted to take a moment to discuss […]
Two Stocks With Upside Potential This Football Season
After another action-packed weekend in the NFL I decided to look at a couple of companies with exposure to the football season. To be clear when I refer to the ‘football season’ I exclusively look at the September through December period of any given year. HIBB Sports Inc (HIBB) operates a chain of sporting goods […]
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