Current Long Positions (stop-losses in parentheses): None Current Short Positions (stop-losses in parentheses): GLD (136.40) BIAS: 7% Short Economic Reports Due Out (Times are EST): My Observations and What to Expect: Jobless Claims (8:30am), Existing Home Sales (10am), Leading Indicators (10am), Philadelphia Fed Survey (10am), EIA Natural Gas Report (10:30am), [...]
Rough day for the bulls today, no doubt! We’ll see if they can bounce this market tomorrow, and get back to their old habits. I would be careful about going long on anything right now, until the market makes its intentions a little bit more clearer. LONG: Starbucks Corp (SBUX) [...]
The S&P is weak for the first time in quite a while, and while we shouldn’t rule out the eternally optimistic dip-buyers from trying to rally the troops and move the market higher this afternoon, there is definitely an atmosphere of trading today that suggests that we may see additional [...]
We’re seeing a fair amount of selling today, which could continue into the days ahead. As a result you may be looking for a way to hedge your long positions, to avoid further losses, or perhaps you believe that this market could see an extended move downwards. Either way, the [...]
Current Long Positions (stop-losses in parentheses): None Current Short Positions (stop-losses in parentheses): GLD (136.40) BIAS: 7% Short Economic Reports Due Out (Times are EST): MBA Purchase Applications (7am), ICSC-Goldman Store Sales (7:45am), Housing Starts (8:30am) My Observations and What to Expect: Futures are mixed heading into the open. Asian [...]
Not much in the way of market action today, as the S&P 500 closed practically flat on the day – tomorrow we’ll see how the market digests the Apple (AAPL) earnings, and whether or not it is a “keep the rally going” or a “sell the news event.” LONG: Ferro [...]
Market beginning to look a bit toppy in my humble opinion, and with the market in general being quite overbought in every sense of the word, I want to throw out some shorting ideas in the form of stocks waving the bear-flag for a breakdown. Here are 9 Bear-Flag Breakdown [...]
I finally have something in play this morning – the Gold ETF (GLD). I’m actually shorting it, which makes for my first short position of the new year. My stop-loss is at the point where it tries to fill the gap from earlier this month (1/4). There is a lot [...]
Current Long Positions (stop-losses in parentheses): None Current Short Positions (stop-losses in parentheses): None BIAS: 100% Cash Economic Reports Due Out (Times are EST): Empire State Manufacturing Survey (8:30am), Treasury International Capital (9am), Housing Market Index (10am) My Observations and What to Expect: Futures are mixed, with the Nasdaq down [...]
Hope you all enjoyed the day off from the markets. But get ready, it’s business as usual tomorrow, and here are the daily trade setups to go along with it. LONG: Compuware Corp. (CPWR) […]
When I provide my daily trading plan tomorrow, I will be 100% in cash – something that doesn’t happen all that often. At the close on Friday, I proceeded to close out all eight existing positions in my portfolio. But let me be clear, I’m not some dooms-and-gloom guy calling [...]
