Snuggling between two gaps:
Chart of the S&P 500 emini Futures (March)…but this gap is all over other charts like the SPY and SPX as well of course. Note the large gaps below and above us here…we will eventually fill one soon…
Bucket 2: New Position
We started a little at the bucket 2 buy wish list and bought an initial position in MMM just now.
Morning Thoughts November 9
All it took was the resignation (or at least a pledge to step down) of the Italian Prime Minister Silvio Berlusconi yesterday and stocks rallied hard off their daily lows to close at their highs. In true risk chasing fashion cyclical stocks like financials and energy stocks led the day higher as fund managers hopped […]
Portfolio Holdings November 9
Bucket 2 Symbol Open D Direction Sectors Avg Entry Stop Target 1 WYNN 31-Oct short cons cyc 133.13 141 128 SPY 8-Nov l Index 127.5 124.5 129 Bucket 3 Symbol Open D Direction Sectors Avg Entry Stop Target 1 GDX […]
German DAX at solid near-term support
It's just a reference level to watch, but do watch it please:
Important Multi-Day Level On SPX To Watch
on the S&P 500 futures, 15 minute chart note the key level around 1235 (thats around 1240 on the S&P 500 itself). we are breaking below it as we speak and there may be some support near 1228 on the S&P 500
Visa On Verge Of Possible Breakout
Visa Inc. (NYSE:V) the payment processing platform company has traded well so far in 2011 and continues to act well. I have discussed Visa Inc. (NYSE:V) before and it is now again getting close to setting up for a high probability trade. On the weekly chart note the clear uptrend in place since 2009 […]
Industrial Stocks May Be Ripe For A Bounce
On August 2nd I wrote here (http://www.investorplace.com/53951/trade-of-the-day-industrial-select-sector-spdr-nyse-xli/) that the industrial stocks are setting up for a short-side opportunity as they had broken a major uptrend a couple of days prior. The vehicle discussed was the Sector SPDR Industrial ETF (ARCA:XLI) which has since then fallen roughly 14% and yesterday reached our profit target at […]
Update On Ralph Lauren (RL) Short
After announcing earnings on May 25th, Ralph Lauren dropped 11% due to profit margin squeezes. On May 25th we sold far out of the money calls as implied volatility and hence options premium were juicy, as highlighted HERE. Two days later Citigroup upgraded RL on a valuation call and the stock rallied hard right […]
Yahoo (YHOO) On Verge Of Multi-Year Breakout?
There's not much more to say here than: look at this chart! Multi-year resistance in YHOO is at $19 and this time it sure looks like YHOO is serious about breaking above this level. While very near-term this stock could be extended, if looked at with at least a couple months of time-frame I think […]