Morning Thoughts August 15
Boring session yesterday Here’s s stock that broke higher though and through its 50, 100, and 200 moving averages on good volume. We like to for further upside for bucket 2 with stops around the halfway point of yesterday’s rally
Morning Thoughts August 14
We continue drifting higher in risk assets. While it is simple to short this rally I would point to the chart below indicating how well all sectors are now participating in this upswing. Sooner or later we will correct but I for one do not want to step ahead of a train, especially if retail […]
Morning Thoughts August 13
Equities may be overbought here near term but 1415 – 1420 on the S&P 500 may still be possible. Note the bullish setup on the 60 minute chart below. One stock showing good strength for a potential breakout is ECA. A solid close above $23 is buyable.
Starbucks near important medium-term support
Coffee retailer Starbucks (SBUX) at one point this year, just at the downturn point of broader equity indices in April, was up around 34% for the year. Fast forward 3.5 months and the stock as of today is almost flat for the year and from a technical point of view has broken some important support […]
Morning Thoughts July 26
A mixed day yesterday and a wild overnight session leads us to open up the markets about 1.3% higher this morning. I reiterate my cautious stands on having any overnight risk (unless timeframes are long enough)…last night was a perfect example. EUR/USD after breaking down earlier last night is now back at a one month […]
Three stocks I will watch today
three stocks i will also have on the radar today: WFM, CROX, CAKE. All are up premarket after earnigns last night. Ideas on these names will likely involve options strategies.
AAPL falling out of a consolidation wedge
Plain and simple: A weak close today is shortable for a trade to $550
Morning Thoughts July 24
We have mixed signals this morning from small and large cap stocks as Russell 2000 is now underperforming the S&P 500. If you recall the reverse was in play two weeks ago and that made us bullish for a trade. A follow-through up day in coming days would save the bulls. Haliburton (HAL) looks good […]
S&P 500 Futures Update
S&P500 futures are now finding support for the fourth time in the 1336 – 1339 zone since mid day yesterday. A break below there and yesterday’s lows should be retested or broken.
Closing SPY Long Position
After closing 2/3 of the SPY long position late Friday we just sold the rest 1/3 of the position. Net net small gains for the trade. We can always re-enter he market should the opportunity present itself in coming days