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    Fuinhaz $SPY read for August 13, 2012

    $SPY opening flat, keep in mind that we have 2 resistance levels that needs to be watched. The first one is the 140.92 level from last Tuesday 8/7/2012, and a really big one at 141.66 5/1/2012. I have been reading on the Twitter stream that other good trades are also looking at these resistance levels.

    By |Published On: August 13, 2012|1 min read|
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    Fuinhaz $SPY afternoon update for August 10, 2012

    $SPY have no direction, a few minutes ago, I tweeted that it might be doing an invert head and shoulder pattern. Please check the chart : $SPY Inv. Head and Shoulder. This has to  be one of the worst week in trading, I have ever experienced. I really feel like I wasted a day of

    By |Published On: August 10, 2012|1 min read|
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    Fuinhaz $SPY morning update for August 10, 2012

    $SPy still having a lot of dip buyers at every support. Very confusing market action. The current trend still looks negative, but a lot of stops being filled from long and short. Too much chopness again so even if I think that we eventually drop, I will again hold myself from giving new setups as

    By |Published On: August 10, 2012|0 min read|
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    Fuinhaz $SPY read for August 10, 2012

    We might just get the pull-back, everyone was expecting. After a week of running wild like a carriage on fire, we finally dropped a big bucket of water and we will probably head down a bit. The $SPY is currently @ 139.99 as I write this, but we still may have some variations. Here are

    By |Published On: August 10, 2012|1 min read|
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    Fuinhaz $SPY afternoon update for August 9, 2012

    $SPY pretty much stuck in a range. I had one successful short in $CAT, and all the other trades were break even. There aren't really any news out there, good or bad, but the trend is holding up. I am not sure until when we will continue like that since nothing is moving very significantly

    By |Published On: August 9, 2012|0 min read|
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    Fuinhaz $SPY morning update for August 9, 2012

    $SPY did something interesting. If you guys open a SPY 5 min chart just before the market opened one would have noticed that the $SPY was going to open around 140.20. One could have interpret that an open @ 140.24 (and if it holds) we were building the second shoulder of an invert head and

    By |Published On: August 9, 2012|1 min read|
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    Fuinhaz $SPY read for August 9, 2012

    $SPY opening flat after US data shows that jobless claims unexpectedly fell, down by 6,000 to 361,000; trade deficit narrows in June to $42.92 billion Vs. $48.04 billion in May. From what I have noticed on the past 3 days is a slowdown of the equity names I follow, and yesterday I noticed the same

    By |Published On: August 9, 2012|1 min read|
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    Fuinhaz $SPY afternoon update for August 8, 2012

    $SPY trying to stay above the 140.45 pivot level. Remember that above 140.54 we should run and end the day strong. If we close strong, I will probably sit out the 1st hour to try to figure out this market may go. Now if the $SPY break below 140.17, then we will most likely lose

    By |Published On: August 8, 2012|1 min read|
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    Fuinhaz $SPY morning update for August 8, 2012

    $SPY dropped nicely, but dip buyers came in to save the day for now. I noticed that there are some heay names that are not doing as well as they were about three days ago, and that worries me. I am not worried about the long run, I am worried about the short term, which

    By |Published On: August 8, 2012|1 min read|
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    Fuinhaz $SPY read for August 8, 2012

    $SPY opening lower today (no surprise from my part). I personally don't even know how to describe how stupid this past three day rally were. Absolutely no news, again I am still looking for more upside, but it better come with something sustainable not just someone waking up in the morning and decide to turn

    By |Published On: August 8, 2012|1 min read|