• Where Is This Market Taking Us

    For most of this month the bears have thrown around the bulls like some red-headed, left-handed, step-child. At this point, we are in a steep decending channel, and as it stands right now, we are on the bottom end of that channel, which means for the bears the risk far out weighs the reward, unless

    By |Published On: May 24, 2011|1 min read|

  • NYSE Reversal Indicator

    The market continues to leave both the bulls and the bears on the edge of their seats. Direction is unclear at this point, and essentially, the only way to make money in this market is by trading quickly when the opportunity is there, and taking the profits in the same manner. So unless you can

    By |Published On: May 21, 2011|2 min read|

  • Trading Plan for May 16, 2011

    Current Long Positions (stop-losses in parentheses): GOOG (528.75), NFLX June 270 Calls, AAPL (342.25), NTAP (52.45), B (24.64), PEP (69.75), APH (55.20), HPQ (40.65), RSH (15.93), STZ (22.20), CHKP (54.19), SSO (53.35) Current Short Positions (stop-losses in parentheses): None BIAS: 60% Long Economic Reports Due Out (Times are EST): Empire

    By |Published On: May 16, 2011|2 min read|

  • NYSE Reversal Indicator

    If you’re like me, you probably expected the NYSE Reversal Indicator to be pointing straight down. Instead, it is the exact opposite. So what does this all mean? Well, let me give you a few observations that come to mind 1) Bears only managed to push the market down last week, by a smidgen, which

    By |Published On: May 15, 2011|3 min read|
  • Silver Rush

    Silver Rush!

    All I know is that I shorted silver on Monday, ZSL.  I heard all kinds talk about silver and commodities freaking everyone out from CNBC to the blogosphere and twitter. Now, first of all, let me be perfectly clear in that the proceeds from ZSL countered the total error of buying GLUU at absolute tops. 

    By |Published On: May 8, 2011|2 min read|

  • CCI update

    We have seen significant selling the past two days since confirmation of the H&S Top.  The objective of 658.07 was reached early today and continued much lower.  The weekly chart shows a potential double top formation as well.  If we get a close below 635.07 tomorrow it will be confirmed.  This would signal even more

    By |Published On: May 5, 2011|1 min read|

  • What To Focus On Tomorrow

    One of the crazier days in the market this year – Oil down a shocking -9%, Silver down another 12%, gold down 3%, and you have on your hands a nasty, nasty day in the market, that was plagued with huge intraday swings. To say the least – I am exhausted after a day like

    By |Published On: May 5, 2011|1 min read|

  • NYSE Reversal Indicator

    It would be easy to assume that because the indicator is pointing down that we have selling ahead of us. But because the reversal signal is occuring in the middle of the range and not at the extremes, it cannot be trusted. As a result my approach is to continue to trade this market higher,

    By |Published On: April 30, 2011|2 min read|

  • NYSE Reversal Indicator

    The market has been all over the place of late, and the NYSE Reversal Indicator is showing exactly as much. There hasn’t been, for the better part of this year any concrete direction that the market is taking and as a result, we get a few good weeks in one direction before quickly reversing course

    By |Published On: April 23, 2011|2 min read|

  • Checking out the S&P Today

    What a way to start the week out. The market was already heading in the wrong direction when the S&P decided to downgrade the debt outlook of the U.S. In any case, I’ve provided below a quick mark up of where daily support levels exist and right now we are currently testing the 50% Fibonacci

    By |Published On: April 18, 2011|0 min read|