Dining out is in
While markets are still weary of the constant uncertainty of recent years, year to date all sectors in the S&P 500 are in the green. Not surprisingly given Apple’s (AAPL) strong run and heavy market capitalization the technology sector is leading to the upside. In second place however is the consumer discretionary sector; up just […]
B2 short positions exited
We took full profits on our Bucket 2 short positions in SPY and IWM yesterday as the S&P 500 it 1402, as planned earlier in the day yesterday.
Morning Thoughts August 24
Another terrible volume day yesterday – down 12% vs 20day (and barely cracked 5bn shares) – VWAP a cap all day as longs sold – first day (in 4) we saw legit shorties in market (in Energy, techs, miners…so BETA) – luckily SPX bounced from 1,400, but will be tested today. We exited our Bucket […]
SPX downside target
our next downside target in the SPX is 1402. We will exit our b2 shorts in SPX and IWM on a move above yeserday’s highs.
Morning Thoughts August 23
Yesterday’s intraday reversal off the lows felt weak, the test is this morning…will we see follow-through weakness from Tuesday? For now we remain short SPY and IWM. Two stocks to watch: Biglots (BIG) with its big gap down this morning may eventually have room down to the $35 area. CMG is on the verge of […]
Morning Thoughts August 21
It was a dead day yesterday and trading ranges remain narrow and the path of least resistance up. On the S&P 500 this might well mean we see 1440 before we see 1400 again, but at this stage in the rally one should at least have taken partial profits and remain with trailing stops. Anything […]
New Short Positions Bucket 2
We are short both SPY and IWM as of this afternoon. Targets to be determined tomorrow
Closed Bucket 2 SPY long 142.20 – target reached
Now waiting for potential consolidation sideways or down, then reevaluate another long position in SPY with potential target at 1440
Look at Apple Leading The Way Again
Any questions as to what is leading the tape again? The intraday chart below should answer it…AAPL is the green line
Morning Thoughts August 17
We’ve been long SPY bucket 2 for almost two weeks now and will take full profits at the open today. Not so much because we don’t think the market could rise more but because we’ve talked about the 1415 – 1420 area on the S&P 500 for several weeks now as our price target. Also […]