Greeting Friends,
I entered SPY Put 107 Nov at 2.73, look to sell at 3.7
And I'm lloking to take profit SPG at 4 or better.
Have a safe trade.
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Thursday, November 5, 2009
Wednesday, November 4, 2009
SPG Trade
Greeting Friends,
I enter SPG Put 70 Nov at 2.9
A speculation call cause tonight will be the FOMC Meeting.
Have a safe trade and take your own consideration for this trade
I enter SPG Put 70 Nov at 2.9
A speculation call cause tonight will be the FOMC Meeting.
Have a safe trade and take your own consideration for this trade
Monday, November 2, 2009
Market Review & Potential Trade
Greeting Friends,
So much for Thursday’s reversal bar. Friday saw a complete rejection of Thursday’s gains as the markets sold off from start to finish. The move broke Wednesday’s critical pivot low along with several areas of support including the lower trendline of the ascending wedge on the SPX chart. This appears to be confirmation I was looking for a change in market direction and short term market top now appears to be in. We are looking for 38% of the March low to October high move which takes us down to at least the 937 area. I also think the 50% retracement area which coincides with the summer pivot low will act as a magnet (880) but also should provide strong support for a bounce. My bias, nevertheless, is shifting to bearish for the first time since July. However, Monday could provide some support for at least a doji day. I am not looking for the market to pick up downside speed until later in the week so let’s take it easy on the shorts for now.
My potential trade, I'm gonna try to enter SPY Put or SDS Call if the market gapped up tonight.
So much for Thursday’s reversal bar. Friday saw a complete rejection of Thursday’s gains as the markets sold off from start to finish. The move broke Wednesday’s critical pivot low along with several areas of support including the lower trendline of the ascending wedge on the SPX chart. This appears to be confirmation I was looking for a change in market direction and short term market top now appears to be in. We are looking for 38% of the March low to October high move which takes us down to at least the 937 area. I also think the 50% retracement area which coincides with the summer pivot low will act as a magnet (880) but also should provide strong support for a bounce. My bias, nevertheless, is shifting to bearish for the first time since July. However, Monday could provide some support for at least a doji day. I am not looking for the market to pick up downside speed until later in the week so let’s take it easy on the shorts for now.
My potential trade, I'm gonna try to enter SPY Put or SDS Call if the market gapped up tonight.
Wednesday, October 28, 2009
Market Review
Greeting Friends,
Wednesday was a day of reckoning for us after we have broken below the 20-day moving average on the broader market charts. Will we or will we not snap-back as we have done successfully the past three times we have tested/broken the 20-day. The snap-back moves were immediate and strong sending us to new highs on each of the tests. Tuesday’s bar suggested we could see some more downside early and we did but the bulls held us up again from another potential breakdown leaving open the possibility of a bullish reversal move today. In fact yesterday was a doji-like bar so we have to wait at least one more day before I switch my bias to the downside. Possible short term targets if we do move lower is the 1020 area on the SPX which was our last pivot reversal. Let’s go neutral on the day today and see if we get a market revealing indication.
Wednesday was a day of reckoning for us after we have broken below the 20-day moving average on the broader market charts. Will we or will we not snap-back as we have done successfully the past three times we have tested/broken the 20-day. The snap-back moves were immediate and strong sending us to new highs on each of the tests. Tuesday’s bar suggested we could see some more downside early and we did but the bulls held us up again from another potential breakdown leaving open the possibility of a bullish reversal move today. In fact yesterday was a doji-like bar so we have to wait at least one more day before I switch my bias to the downside. Possible short term targets if we do move lower is the 1020 area on the SPX which was our last pivot reversal. Let’s go neutral on the day today and see if we get a market revealing indication.
Monday, October 12, 2009
Market Review an Potential Trade
Greeting Friends,
Friday capped off a strong week of trading by posting its 5th consecutive day of gains. Yes we moved up every day of last week as we have bounced off a break of the 20-day ema again. The snap-back move doesn’t look done to me so I am looking for higher prices earnings season aside. However, since earnings season is kicking into gear this week we cannot ignore it. How this season goes will likely move us. Let’s see how the first few days go to see if we can detect an early trend. Otherwise I am looking for higher prices on Monday and 1120 as my intermediate target on the SPX.
My Potential Trade will be MSFT Call 24 Nov 09
Friday capped off a strong week of trading by posting its 5th consecutive day of gains. Yes we moved up every day of last week as we have bounced off a break of the 20-day ema again. The snap-back move doesn’t look done to me so I am looking for higher prices earnings season aside. However, since earnings season is kicking into gear this week we cannot ignore it. How this season goes will likely move us. Let’s see how the first few days go to see if we can detect an early trend. Otherwise I am looking for higher prices on Monday and 1120 as my intermediate target on the SPX.
My Potential Trade will be MSFT Call 24 Nov 09
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