Trading Block

New long setup: UPRO I bought UPRO at 88.46 My stop-loss: 86.95 My target price: 96.00 Risk Rating: 4.8 Playing the break of the highs of the day, and the market internals drastically improving under the surface as well.

I closed SSO at 91.47 for -2.5%

Trading notes: Heavy selling remains into oversold conditions. The market squandered a really good bounce opportunity Thursday, and instead finished near the lows of the day. Overnight futures remain weak, and showing little upside catalyst, so far. With the gap lower this morning, it does set up for a flush and the creation of a

New long setup: SSO I BOUGHT SSO at 93.90 My stop-loss: 91.47 My target price: 99.00 Risk Rating: 4.5 This trade setup is based on the SPY setup from this morning's watchlist.

Trading notes: Today wasn't the start of a major market sell-off, it was simply the first time that the sell-off was reflected in the indices. It's a perplexing scenario here because about 90% of stocks have been selling off for the past couple of weeks, in fact all the market internals are screaming oversold, but the

Trading notes: It's not often that I talk about the Dow Jones Industrial Average, but it is worth mentioning that it's down 9 straight days in a row, and the first time that has happened since 1978, which means, it has never happened in my lifetime before. Interestingly enough, it is probably easy for it go

Trading notes: While declining stocks continue to exceed that of advancing stocks for an eleventh straight day, it is something that hasn't been seen since September 2001. In order to push these mega cap stocks higher at this point, it is requiring that most other stocks sell-off, which creates a very unhealthy trading environment. In essence

Trading notes: It's FOMC week, with the Federal Reserve releasing its statement at 2pm ET, followed by its presser at 2:30pm. Right now the market is pricing in a 97% chance of a rate cut of 25bps. Its unlikely that the Fed would go against this sentiment and if they were, I would have expected them

Trading notes: While SPY managed to sell-off for the 4th time in the last six sessions, it still remains less than 1% off of the all-time highs. Much of that is because of the megacaps holding up the indices while everything else struggles to find its footing. So far I would say that we are

I closed SLV at 28.40 for -0.7%. Breaking below the double bottom breakout this morning, invalidated the trade.