A few more weeks of Pump...
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Blog description
- Rodney
- A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.
Thursday, January 19, 2012
Tuesday, January 10, 2012
Tuesday, November 29, 2011
Friday, November 18, 2011
Monday, November 14, 2011
Thursday, November 10, 2011
Wednesday, November 2, 2011
Tuesday, November 1, 2011
SPY
A break of the 120.75 line will be a major support break of a Monthly Pivot. Tomorrow's action will be very important as a bull push back to the trendline and a gap fill at 125.33 between Wed and Thurs action. But look for the gap fill to be sold hard and this monthly pivot to be in play by Friday if not crushed depending on the news from Greece and Europe.
Monday, October 31, 2011
SPY
Confounding fibonaccis.... 1 penny, really? I think it is pretty clear here a break of 125.33 and or the green trendline would be VERY bearish. I'm considering placing orders to get short below that and inching in long now with a TIGHT stop with thoughts of adding more long above 128.66.
Fun times.
Friday, October 21, 2011
Tuesday, October 18, 2011
Evil Speculator says it best on today's action
Today was an OUTSIDE DAY.
What does that mean? In the simplest terms whenever I see an outside day (or an outside bar of any length) I think
OUTSIDE DAY = LONGS GOT FUCKED AND SHORTS GOT FUCKED
Think about it. Both sides got whipsawed out of their positions. What that means for us is that we have NEW PARTICIPANTS in the market. A trader who took a position today has a different expectancy and tolerance for pain than a long term trend trader, or someone who got in at the lows last week.
The latecomer into the long trade (and the short trade) is by definition a weak hand.
Anything not going his way is going to make him jump to the other side. We have shot to new highs for the last 2 months. Rather than predict whether this is a breakout or a test and fail… lets be objective and let the market tell us how it likes (or hates) these lofty heights.
We have a valid sell signal on break of the daily low, fakeout sell. However statistically outside days are often followed by inside days, before a final breakout. You might consider holding your fire here. Also, statistically outside days most often occur 2-3 days before a market turn.
And statistically setups at the top of a flat bollinger band are higher reliability.
What does this mean? Get out of longs for now, be prepared to get short… and if the short opportunity which almost certainly happens here fails, get long again.
"Late in the session, U.S. stocks and other risk assets received a boost from a Guardian report that Germany and France have agreed to expand the Eurozone bailout fund from 440 billion euros to 2 trillion euros, citing EU diplomats."
Really? How many frickin' times can they play the same card? Oh, I see they played all five at once this time by increasing the previous amount by 5 times. Uhh, wouldn't that indicate that the problem is 5 times bigger? Let's see if it gets done?
Really? How many frickin' times can they play the same card? Oh, I see they played all five at once this time by increasing the previous amount by 5 times. Uhh, wouldn't that indicate that the problem is 5 times bigger? Let's see if it gets done?
Friday, October 14, 2011
Wednesday, October 12, 2011
SPY
Bear pennant STILL intact and isn't it amazing how the fibonacci level was almost pegged. Bottom line is this is a toping tail and price action closed BELOW the trendline.
Just in case cover Puts above 122.87 by evening out with CALLS on a shorter time frame with the mindset of a quick trade.
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