Trade Setups

I came into today with my portfolio 100% in cash. But early on this morning when the market showed signs of weakening, I went ahead and added a short position to the portfolio.  I don’t have any desire to add more short exposure until I can see what this market intends to do overnight. I

This market… 10 weeks of down, up, down, up on the weekly chart of SPX, despite the market pushing much lower during the last three weeks, it is nonetheless, making it very difficult to short for any length of time beyond a day-trade. Then sprinkle this sell off with massive gaps in both directions.  Over

The bears are back in the driver’s seat after last week’s dead cat bounce. This is none surprising as I have mentioned numerous times in my recent trading plans to not trust the strength of the bounce. I also noted that at the 50% Fibonacci retracement level, we could end up seeing some real

We are on a historic 3-day rally that started Wednesday of last week and ended on Friday. Today we see some selling but not anything to get too serious about. And with trading in the final hour, all bets are off as to what this market might try to do in to the close.  With

Where has “Turnaround Tuesday” Gone off to?  Geesh! Just when you thought that there was something holy and sacred in the market, you come to find out that even Turn Around Tuesdays are not immune to the wiles of the market coyote.  Three out of the last four tradings sessions have been down on Tuesdays

The Dip Buyers are working that tape today.  Typical gap down, a push lower during the first hour of trading by the bears and before the hour can expire the bulls start buying up everything they can get their hands on.  Yes, we have all seen this re-run a million times. That is why

The Bears remain relevant right now but yesterday’s 34 point rally off the lows creates a possible bottoming scenario.  Yesterday was wild. Plain and simple. It was one of those days where no one really wins. If you were bearish, you were enjoying your profits until the market squeezed you out of them, and if

Bears realizing nothing goes down forever! Honestly, it is quite amazing really, when you are shorting stocks, don’t risk getting taken out on the bounce. If you can get 4 or 5 really good days out of a short position, go ahead and wrap it up and close out the position. Don’t tempt fate. There

Technical Outlook: Today’s market will be guided by the jobs report and how that will affect the decision making of the Fed regarding interest rate hikes at the September meeting.  Strong move out of SPX to the downside yesterday had SPX test the rising trend-line off of the July lows and marking the fourth down

The bears still remain relevant as the bulls struggle to gain any traction. Today was setting up to be a real ripper in the market. SPX was gapping up nearly 20 points, Apple (AAPL) was finally starting to bounce for the first time in over two weeks and the market after three days