Ford (F) Is Building A Solid Base, Looking Long
Ford has had a great run off the bottom in first quarter of 2009. To be exact the stock rallied from $1.5 at the lows to $19 in January of this year. Since the highs Ford pulled back and found solid support at the 200 day moving averagee (red line). More recently Ford broke […]
Looking Short On F5 Networks (FFIV)
After putting in a fairly dramatic blow-off top in January 2011, FFIV has been taken to the cleaners more than once. A hard sell-off on January 20 gave way to a classic dead-cat bounce that further send prices to new lows on March 22. See weekly chart. On the daily chart we note a small […]
Lightening Up On long inventory into the weekend
I'm in the process of lightening up on long inventory into the weekend. taking initial profits on PCX among others. Thinking that some profit taking is in order next week.
I’m Watching The Dow Jones Transports Here
The Dow Transports are huge underperformers today, almost twice as weak as the rest of the market. Note $90 remains an important level on the IYT. I have a target of $88 on my short position.
Important Level Here On The S&P 500 . . . Watch!
Right now the S&P Futures are right on top of the gap from last Friday. Watch'em here…if the gap fills we're right near $1300, which was the low from last week.
THe Trade In Whole Foods (WFMI) Is Working Well So Far
As discussed several times the past few days, the unfilled gap (blue zone) still looms. So far this trade is working well as we just retested the low levels from last week. I am looking for this gap to close, which will be my profit target.
Bank Of America (BAC) Acting Well Again
After consolidating some over the past week or so, BAC put in a solid hammer on Dec 15 and has been trying to work higher since. BAC and others like JPM and GS are solidly higher today despite a broader tape that's much more unchanged. For my part I've legged into some long dated calls to test the waters […]
Please note the downside gap in the VIX from yesterday. To me this says investors don't feel the need for any sort of hedge any longer. I view it as dangerous and a bearish sign.
Thursday, August 12 – Quick Hit
This morning we bounced off 1070 on the S&P Futures. I'm thinking this is 'just' a bounce and am targeting 1066. The VIX bounced again at support but needs to clear and hold the 28 level if it wants to continue upwards.
Defying Gravity
Today the most prevalent question in my mind is whether we’ve now already priced-in the following two scenarios: 1) a very republican outcome in the November Mid-terms and 2) The Fed’s much mentioned QE2 missiles. If these two things are priced in then I feel we are due for some selling pressure the next few […]