BKX Bank Index could Trade lower
A quick look at the BKX Bank Index reveals notable support at the $52 level. A break below could quickly move the index towards the $49 level, which also happens to be the 200 day moving average (red line). How do the component stocks of the BKX look? JPM albeit still longer term bullish now […]
Vmware (VMW) Is Displaying Weakness Worth Noting
Please note the head and shoulders pattern in VMW. the stock was a rally leader last year and currently sits just on top of the 200 day moving average, which makes a short somewhat more tricky. A meaningful pierce through the 200 dma would make a short more attractive. More importantly however to note […]
Russell 2000
Russell 2000 Makes 2 Year High It was the last of the major indices to make a new 2 year highs the past few trading days. . .today it did. And with this the market again proves just about everyone wrong as many called for the mid and large cap and technology stocks' lagging […]
Morning Thoughts Dec 6
A choppy session yesterday looks to continue today. We remain in an environment where anything but quick intraday scalping doesn't work…so we choose to remain in cash by 90-95% and wait for better setups. Politicians remain holding the wild cards and the tape will continue to react to each new development on that front. The […]
Portfolio Holdings Tuesday Dec 6
No changes from yesterday. See yesterday's portfolio holdings here: http://steadytrader.wpengine.com/portfolio-holdings-monday-dec-5/
Bucket 3 Trade Idea: FRO
The company operates a fleet of large container ships The stock slumped big this year as prices for container transport dropped and the firm subsequently ran into a cash crunch Yesterday and this morning the stock made gigantic leaps due to a restructuring announcement that essentially takes a bankrupcy in the medium term off the […]
Another Indicator For Weak Growth:
Referring back to the previous post on FRO, note that `forward freight agreements, traded by brokers and used to bet on future transport costs, are anticipating unprofitable charter rates for at least two more years.` Translated that simply means lower global demand for goods and hence services… Take that and combine it with all the […]
When will the next tradable move come?
much of the next move in equities and risk assets in general depends on the outcome on thursday with the ECB rate decision and the announcement on Friday by Merkel and Sarkozy until then this tape will likely chop around and give false signals all over the place…stay out of it please a chart worth […]
closed entire bucket 2 long in MS
as per the email alert sent out on Friday, we closed the entire position in MS ahead of the weekend…the risk just seems a little too high for our portfolios.
Morning Thoughts Oct 6
After Tuesday’s massive intraday upside reversal traders yesterday were encouraged enough to step in with some follow-through buying. That has brought a number of the major U.S. and European equity indices into initial resistance areas in the near-term. On the S&P 500 hourly chart in specific we note that the 4% rally since Monday’s close […]