Monday Afternoon Update
if we were to tally it up right here right now at 3PM ET we'd see a flat session…with a decent intraday swing. Financials are at the forefront again today along with industrials. Nothing is really moving a ton however, except silly stocks like GMCR which is up off its intraday lows around 8% today. […]
Reducing GMCR Position
Given the monkey move higher in GMCR today we are reducing our short position some now. Clearly the break lower that we saw was too obious for it to work in a classical fashion. So, we are reducing size and should we get a break out to the upside in coming days we could even […]
New Bucket 2 Trade:
We are short GMCR as of Friday jan 6th as the stock is breaking out of a very tight consolidation range to the downside. Short GMCR at 43.23
Morning Thoughts January 9
This morning it's all about timeframes…and that's what we do! Friday's trading session was rather flat and uneventful, which was to be expected after busting out of the gates the way we did on Tuesday when they opened the markets for 2012. The 'easy' trade to the upside is likely over, although we still expect […]
A Bullish Sign: Weak Non-Cyclical Sectors
A very basic but time-proven way to measure risk appetite in equity markets is to follow the performance of cyclical versus non-cyclical market sectors. During times of better performing economies the so called cyclically sensitive sectors tend to outperform. Stocks such as Caterpillar (CAT) in the industrial sector or Dick’s Sporting Goods (DKS) in the […]
Small caps and transports still lagging
…and that concerns me about upside. A ton more upside gets difficult as long as small caps and transports dont lead upside.
Morning Thoughts August 8
Yesterday’s rally managed to close above the open gap and we now have two significant open gaps below us as support reference points. We reached our first upside target on the S&P 500 yesterday near 1406. We’ve discussed this upside target since Monday. Next upside target is around 1420, although in the immediate term we […]
Morning Thoughts June 8
most fireworks in AM (China rate cut, Bernanke’s speech, BoE call, etc) – Volumes back to norm (down -4.5% vs. previous day and -3% vs 20day). Treasury stable (10y rates 1.65%) – Defensives better – fresh-shorts laid out (Energy and Mining specifically). BUT we started to fade after 1) Bernanke said “ready to act” but […]
Lululemon Ready For Follow-Through Buying
Yogawear purveyor Lululemon (LULU) has been quite the growth story in recent years and at the same time a stock volatile enough to satisfy every trader’s cravings. Since 2011 the stock is up well over 100% and in 2012 alone it is higher by roughly 50%, outperforming most in its industry. Yesterday, Thursday December 6th, […]
Morning Thoughts September 7
Good Morning While yesterday was a solid day for equities all around it is Intel (INTC) that still concerns me…and of course this morning it cut third quarter sales forecast. The stock remains completely diverging from major averages. The rest of equities look good, the Russell 2000 breaking out of a consolidation phase, although not […]