I’m Short At The Close Today

I have feelings and they are tingling and they are telling me to be short for tomorrow. I’m taking a heavy position. Hopefully that tingling is not my toes from sitting in the same position too long. Today the market almost went flat, but it was very VERY important that the market closed up and closed up as much as its doing right now - Dow 200. If the market had closed flat or down, then...

We Did Not Move Higher Today

I mentioned over the weekend that I thought maybe we could break the overhead trendline and move higher then later in the week test it to the downside. That was wrong. However, I did provide the levels to look for to make a trade. The market moved fast right out of the gate this morning. I was quick to cut my losses and mentioned in the comments section that we have broken some important levels...

Is This Black Monday?

Market indexes have broken through some major support lines and I want to see what happens at the close. I want to be a long buyer only at the close and only if we finish in the red. Any comeback rally day, I will short. I may go short at these already egregious levels today though as the indexes have broken important levels and the next zones of support are much lower. I stopped out of SOLF an...

SPX Trendline Support and Resistance

SPX is right around some major inflection point, but both the RUT, and the COMPX have considerable upside room which makes me think we are going to see the SPX break this trendline to the upside. After the break I think it will selloff to test the line causing a break even for the week in terms of performance. This would be a victory for the bulls if this played out. It could also end up being ...

Bought SOLF @ 5.54

In SOLF @ 5.54 I’m looking and hoping for a close over 5.81 Normally I’d expect SOLF to close @ the highs of the day based on a paintbar pattern I have, chart included in a minute, and if it doesn’t close on the highs it typically will trade higher the next few days. As I typed this, SOLF started moving…chart coming in a bit. A close over 5.81 and 5.69 is important for c...

Stopped Out Of TBSI, Bought MTL

I don’t know if it was foolish or not, but I kicked myself out of TBSI on the opening bar drop. Took my loss and walked even though 2minutes later TBSI bounced about .40 cents higher. I bought MTL @ 6.04. I bought it in an overbought state, and it was a much better buy at 5.95. MTL is curiously strong today like Altoids. So I want to watch other steel stocks and see if anything moves with...

A Very Profitable Day

The gains in the NDX (9%ish) and the RUT (11.4%ish) were outstanding. My only mistake was not adding back the money I took off the table after Monday’s run. Alas the gains have been good. I have sold my index longs as a precaution at the close. I want to buy back on weakness or profit taking if it unfolds on Friday. Either way I’m pretty sure I want to get long for December barring ...

Levels I’m Looking For Tomorrow

Topside levels RUT 452 SPX 898 COMPX 1499 I’m also looking at UYG and the 6.05 level. I get worried if we take out today’s open tomorrow on the indexes that closed positive. I bought SOL, YGE, and APWR today near the end of the day. They have room a bit up before hitting major resistance (on these 3 symbols), but if the same characteristics show on these 3 symbols they are most like...

Bought APWR and YGE

YGE @ 3.99 APWR @ 3.94 Alternative energy hot potato. 5 minute charts showing that same pop potential LVS exhibited earlier this morning and then did again later in the day. LVS is consolidating nicely actually. Wish I didn’t get stopped out. It looks like JRCC could bounce more than today as well fwiw. Tags: Alternative Energy, apwr, jrcc, lvs, yge

Bought LVS

Picked up some LVS @ 3.99 for a lotto ticket. 5 min and 30 min look poised to pop. Tags: lotto ticket, lvs