Our plan for the coming days…
we are anticipating a higher low in the major U.S. equities to be forming over the coming days. if and when that comes to pass we would look to add bucket 2 long-side exposure in financials, energy, and possibly some european stocks via the EWG etf. we want to keep alot of cash in the […]
A few reasons why a near-term bottom may be in place:
significant divergences between price and oscillators in major U.S. equity indices selling pressure has been slowing down lower VIX bullish weekly candle with long tail on the major index chars…see chart below
Intel May Have Room Higher In The Near-Term
Intel (NASDAQ: INTC), the world’s largest semiconductor chip maker has a confluence of positive signals currently that may offer a good long-side opportunity for traders. Besides the solid technical picture, the company currently sports a 7.5 times 2012 price/earnings ratio, a 4% dividend yield and net cash on its balance sheet of around $10 […]
Important Near-Term Resistance Line on S&P 500
check out the downward sloping blue line…resistance the past week or so…if we pierce above it and hold we can snap a good amount higher
Aeropostale (ARO) Upside Gap-Fill Potential
Aeropostale Inc (NYSE: ARO) is a specialty retailer of casual clothing and accessories for teenagers and children. The company currently operates about 885 stores in the U.S. and a few dozen in Canada. While this is a stock I often keep on my screens, its recent slowdown of the sharp price decline coupled with […]
Mid-Week Market View – May Selling?
As I sit here early Wednesday morning looking at yesterday's market action and the early trading in European markets, I notice the lack of energy in the tape. Since putting in a recent bottom last Thurday, the S&P500 jumped higher and last night closed only 13 points off the year to date highs. Earnings […]
Chart Of The Day: Saks (SKS)
Saks (SKS) got smacked hard in the 2008 sell-off…from the low $20s down to as low as$1.50. Since then the stock has managed to pick itself back up in a big way and traded nicely technically. Several nice bullish wedges and flags have successfully played out over the past three years. Thus far in […]
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.