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NDX

The NDX seems to have touched resistane (see chart below).  Should it break up it could reach 2007 highs.    Technically speaking this formation looks to me like an inverse head and shoulder pattern. 

The Bears

Are The Bears to Scared To Bounce? Just look at the simple chart of the S&P500 (SPY) below.  The fact remains that every single dip got bought more aggressively than the last one over the past .   After so many slaps to the head do you think the bears might just be a little shy to […]

Taking Profits In OpenTable (OPEN) Short

On May 4th OpenTable (OPEN) offered us a great opportunity for a classic 'short calls' Bucket 3 strategy after the stock dropped hard due to earnings.  As expected the stock never saw the pre-earnings levels again and the calls that we sold are now worth a mere 5% of where we sold them at.  So, […]

Morning Line-Up

Good morning and happy Friday! After a fairly flat broader tape yesterday, we rise this morning to most things, dollar and treasuries aside, trading at higher prices.  The Euro continues its astonishing rally on the back of the rate-hike the other day.  Gold, silver, oil, and stocks are all up solidly ahead of what looks […]

Apollo Group

Apollo (APOL) Group Setting Up For A Buy. APOL has been on my radar for several months now. After the big earnings drop in October I had sold calls and collected nice premium when shortly thereafter the volatility came crashing down and the stock paddled sideways for a while. Now the setup is much different: […]

Russell 2000

Russell 2000 Makes 2 Year High It was the last of the major indices  to make a new 2 year highs the past few trading days.  . .today it did.   And with this the market again proves just about everyone wrong as many called for the mid and large cap and technology stocks' lagging […]

The Steady Trader

The Steady Trader One of my brokers just alerted me that the spread between 2yr and 30yr treasury bonds are at an all time high of close to 400 basis points.   That led me to look at the spread between 2yr and 10yr bonds: around 280 bps…also very wide.   Two Questions; What does […]