EUR/CHF Breakout. What Does It Mean?
Note the break out of a 10 month downward-sloping trend line in the EUR/CHF exchange rate. Not only that, but the Euro (EUR) is also crossint the 200 day moving average against the Swiss Franc (CHF) for the first time since October 2009. While this may reflect the strength the Euro has been exhuberating against […]
Silver Wheaton Corp (SLW) Ready To Rally
SLW looks ready to party higher after breaking out above the previous $46 level resistance. Today's consolidation thus far looks healthy and for me an opportunity to add a little.
Update on Research In Motion (RIMM) Short
On Monday I wrote about a head and shoulders setup in RIMM with a profit target near $51. See here: http://steadytrader.wpengine.com/research-in-motion-rimm-head-shoulders-playing-out/ Today RIMM is rallying to the tune of 2.50% as of this writing, and as such is putting a feelski on the 200 day moving average (red line) from below (no pun intended). I am […]
S&P 500 Indecision Marked With 3 Dojis
Note the three doji candles the past three days. If you're not familiar with candlesticks, a doji essentially shows investor indecision. The question becomes whether these three indecison days in retrospected ended up being consolidation days or whether they will have meant that investors were getting nervous about the potential government shut-down and earnings season […]
Short Opportunity In Open Table (OPEN)
I see an opportunity for a quick bucket 2 short-side stab in OPEN . Today left an ugly looking bar on both daily and weekly chart after a downgrade from Citi. Stops could be placed around $109 and a profit target near $100.
Today’s pre-market video is ready to watch here:
http://steadytrader.wpengine.com/video-2/april-2011-2/
Buy Wish-List
Our buy wish list for next week – should we get a buyable pullback: SPY, OIH, APKT, CAT, MMM
Morning Thoughts December 5
Good Morning As usual each Monday please also refer to the free weekly newsletter, which presumably all of you subscribed to. Last week’s massive rally in equities brought the S&P 500 up to the downtrend since July where it may find some resistance before ultimately having a good chance to head higher into the 1300 […]
Portfolio Holdings Monday Dec 5
Between 90% and 95% cash currently Bucket 2: Symbol Open D Direction Sectors Avg Entry Stop Target 1 Target 2 WYNN 31-Oct short cons cyc 133.13 141 128 as low as 90 SPY 30-Nov short index 124.91 Bucket 3: Symbol Open D Direction […]
Monster-Gaps Update
the 15 minute chart of the S&P 500 futures shows it all…some of this gappage has to fill before we push higher: