Bucket 2: Potential Long-Side in SPY
Little technical here folks, but look at the S&P 500 futures chart below. Note last Friday we retraced and held 50% of the move from Nov1 up to Nov 3. We also have an unfilled gap up above from last week and the 23.6% Fibhonacci extension gets us right up there. A long-side try via […]
Bucket 3 Idea: Short ANF Calls
ANF fell hard (almost 17%) last Thursday as the company announced weak guidance. That has left out of the money calls with good volatility and hence juicy options premium. We are considering selling out of the money calls with January expiration in the name later today. On the weekly chart note the trading range for […]
Wedge On The S&P 500 Chart
note the wedging activity happening on the S&P 500 here on an hourly chart. a breakout to the upside is entirely possible…
Bucket 2: closed short position in UA entirely
Closed short position in UA at $83.54 after reducing it last week already at lower prices don't want to take the risk of this thing breaking higher momentum funds can easily chase it higher into a pop in the broader market
Bucket 3: Long GDX
just bought some GDX for bucket 3. we are proably buying it too high but for bucket 3 that's not so important right now first target $65.50. but it is bucket 3 so we want to keep it for a while stop at $60 for now
Morning Thoughts Monday November 7
After early morning weakness on Friday U.S. stocks managed to find support and rallied for the rest of the day all the way into the close. On the week U.S. stocks fell which led the market to its first weekly drop since September. The situation in Europe remains unstable even as Greek politicians are nearing […]
Watching the German Dax
we continue to keep a close eye on the European markets…both rates and equities. In case of equities the German Dax will have good support around 5750, not too much lower from here… just something to watch
Dollar Index Support Area To Watch
we've discussed the dollar index a ton here over the past few months and noted the breakout of the downtrend resistance line in early September. In conjunction with the EUR/USD previous post on EUR/USD it is conceivable for the dollar to give up more gains in the near-term and an interesting target area to us […]
Happy Friday
Morning Thoughts Friday October 7
Stocks yesterday again closed at their absolute highs…third day in a row now. Volume was OK but nothing great. Commodities too rallied with Crude Oil again above $80 and copper nearlq 10% off its lows from earlier this week. Gold and silver are trading in a narrow band at the moment and we need to […]