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    Fuinhaz $SPY morning update for August 2nd, 2012

    $SPY took a nose dive and right now it is looking very much like it wants to test that 100MA level @ 136.16. I see that the sentiment is overall bearish with a good reason. When we get close to a level that we might actually bounce, the market usually hoover around, get some people

    By |Published On: August 2, 2012|1 min read|
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    Fuinhaz $SPY read for August 2nd, 2012

    $SPY losing it's strength after the release of the weekly jobless claims that rose 8,000 to 365,000. Analysts were expecting 370,000; continuing claims fall 19,000 to 3,272,000 meaning that less people are getting benefits. On the other side of the Atlantic, the European central bank held its main interest rate at a record low of

    By |Published On: August 2, 2012|1 min read|
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    Fuinhaz $SPY afternoon update for August 1st, 2012

    $SPY maybe forming an invert head and shoulder on a 3 min chart. For that to confirm, the $SPY needs to cross 138.28, and we may have a good end of the day with the bulls taking it over the bears. Some good names that can run if we can make over that barrier are:

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

    Market waiting for a sign from the fed. There isn't much to say but wait. I already gave my opinion, I think that the fed will repeat what it have been saying for the past meting. That they are paying attention, and have the tools ready if those are necessary to be used. Other than

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

    $SPY finding some stamina to keep this market going even though today is anybody's game since we have fed decision today. Well there is no real fed decision. Remember what I wrote yesterday "As we all know, nothing is going to change, and the only thing people will be expecting to hear are the words

    By |Published On: August 1, 2012|1 min read|
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    Fuinhaz $SPY afternoon update for July 31, 2012

    $SPY tried to bounce, but as we close the day, it is clear that 138.18 will be re-tested. Most of my shorts worked today. I took two -.10 cents loss in $PXD and $TRIP. I did well in $COG, and I think I will have to wait until tomorrow for $NUE. Tomorrow we have e

    By |Published On: July 31, 2012|1 min read|
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    Fuinhaz $SPY morning update for July 31, 2012

    $SPY trying to hold above 138.76 (pivot point). A move above with some volume, will probably catapult us to the 139 level. I have doubts since we seem to be trading in a tight range since yesterday around 11:20am (please check a 5 min chart). So for now, i am mostly inclined to short. Here

    By |Published On: July 31, 2012|0 min read|
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    Fuinhaz $SPY read for July 31, 2012

    $SPY opening slightly higher as traders are now counting that the Fed and the ECB (European Central Bank) will act and interfere a disaster. 89 percent said they believe the ECB will purchase more sovereign debt and 78 percent said they expect the Federal Reserve to undertake additional quantitative easing. I personally believe that the

    By |Published On: July 31, 2012|1 min read|
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    Fuinhaz $SPY afternoon update for July 30, 2012

    $SPY bounced a bit, but it is looking very much like it wants to test 138.17 before it gives traders any good direction. I am now looking again into some shorts, as it seems today that they are the real runners. I took a long in $CAT, and it took one hour and a half

    By |Published On: July 30, 2012|1 min read|
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    Fuinhaz $SPY morning update for July 30, 2012

    $SPY pulling back as I mentioned it would be the correct way in the morning. I took some short, in which I am very close to cover. I really think that soon the market will most likely rebound. I really like the the banks here if we rebound. $WFC over 34.13 $JPM over 36.53 $C

    By |Published On: July 30, 2012|0 min read|