Updated Buy Wish-List
We are interested to buy on a pullback for santa rally (IF, big IF the market doesn't totally fall appart: SPY, CAT, OIH, APKT, MMM, EAT
Reducing B2 Short Position In SPY
Today we took profits in our Bucket 2 short position in SPY. We will likely close the rest of the position later today. The reasoning is simple. The past five days stocks have consolidated and worked off some of their overbought levels. Any decent news out of Europe tomorrow and Friday has the potential to […]
Closed B2 Short Position In WYNN
We just closed the rest of the WYNN short position we had. Closing price was 112.85. The rational is the same as for the closing of the short position in SPY…we want to be as flat as possible going into Thurs and Fri. If the market falls appart we will have plenty of time to […]
SPY Short Position Fully Closed
Follow up on the earlier post…we now also closed the last remaining part of the Bucket 2 short position in SPY. Fully flat SPY now.
Morning Thoughts Wednesday Dec 7
Quick one this AM, and appologies for the lack of a morning video today. Not alot of new stuff to talk about today…Thursday's ECB meeting (50 bps cut expected) and Friday's socialists unite announcement remain front and center. We want to be in maximum levels of cash and wait for better opportunities The mother chart […]
Update On The Euro
Quick peek at the EUR/USD reveals a trading range since November 1st. A break out of that range in either direction will likely be reflected with a similar direction move in equities…possibly into year-end.
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
Bucket 3: Gold Miners (GDX) Long-Side Idea
The near-term opportunity lies in an unfilled gap (gray zone)…it fills around $64.25. If we compere the GDX versus the GLD over a two year period we note the spread between the two fellas is wide. The chart below is normalized:
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 […]