Market Wrap-up May 3
Rollercoaster of a day today and we again traded the spx futures and silver (SLV) well today. Breakout trades like APKT, HLX, and ZAGG continued to hurt but they seemed to slow somewhat. We opened new long positions in GILD and closed all the silver shorts and even went long some into the $40 […]
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Early Thursday Morning Market Thoughts
It goes without saying, yesterday's market action was ugly. The clearest signal of further risk aversion in my mind came with the fake breakout higher on Tuesday, the last day of May. In hindsight it is now clear month-end games were in high gear last week, and until Tuesday of this week. The blatant disrespect […]
Another Technical Look At The Russell 2000
The most recent stock market rally that started on May 25th continued in full force yesterday, Tuesday May 31st. While end of month forces may have been at work, it speaks positive nontheless. The major U.S. equity indices closed at the highs of the day and as such overcame a good amount of technical resistance […]