Gold (GLD) Breakout
The GLD broke above $141 this morning, triggering a buy signal on our end. On the weekly chart below note the steady upward movement over the past few months (and obviously years as well) with nice consolidation periods here and there. On the daily chart note the consolidation pattern that started early March and […]
Are Semiconductors About To Take-Off?
Last week I wrote about the nice short setup in semiconductors, with a clearly defined risk stop at an important level. Let's look at the chart of the SMH (Semiconductor Holders Trust) ETF: When SMH found resistance at the 50 day moving average (yellow line) and started moving lower it looked like a classic 50% […]
Morning Thoughts Friday November 4
After two days of extreme uncertainty stocks yesterday managed to put together a solid rally. A little more visibility out of Europe as Greece cancelled its referendum coupled with a rate cut from the European Central Bank inspired investors to buy some stocks, or at least cover some shorts. When it was all set and […]
Open Positions Nov 4
Symbol Open D Direction Sectors Avg Entry Stop Target 1 UA 25-Oct short cons cyc 81 87.50 70 WYNN 31-Oct short cons cyc 133.13 141 128 MS 3-Nov Long Fins 16.97 15.9 19.5 We currently only have bucket 2 positions open for purposes of discussions here.
the world held ransom by greece
its amazing that a 'small' country like greece can hold the entire world ransom that's the dark side of globalization we will try to close out or MS trade at some point today…risk into the weekend is way too big. we don't like to flip bucket 2 stuff this quickly but these current times require […]
reduced size in MS bucket 2 long trade
we just reduced the size in our bucket 2 long trade in MS weekend risk is way too big we would rather miss an opportunity than take a chunky loss we may close the rest of the position by the end of the day…
Head & Shoulders Developing on S&P 500 Chart?
Dollar Index Chart Looking Better Again
Oshkosh Corp Horrible Weekly Chart
Oshkosh Corp. (NYSE:OSK) designs, manufactures and markets specialty vehicles such as defense trucks, access equipment, emergency vehicles and more. In early July billionaire investor Carl Icahn disclosed that he holds a 9.5% stake in the company. As usual in such cases Icahn plans dialogues with management about increasing shareholder value. This would all be […]