well, as i predicted on Friday, we had a down day today (see my last blog post). I used it to buy, mostly sticking with the 2x leveraged QQQ. The QQQ’s are definitely holding up the strongest in this market while SPY and IWM is sticking more in a range bound trading environment. All the […]
although today was positive and I continued to add to my long positions, I did see a few cracks appearing in my afternoon analysis. They are nothing serious at this point, but it wouldn’t surprise me if we have a down day. I still remain bullish at this point though. Let’s start with the good […]
42% of the top 1500 traded stocks are above the 50 day moving average. This is the highest number since he hit bottom in early August. 7% of the top 1500 traded stocks are above their bollinger band, although not an impressive number, this is the highest we have seen since before we started this […]
to follow up on my technical analysis post from last night, we made good progress today. As stated previously all the indexes gapped over the shorter term moving averages and closed above them end of day which is short term bullish. There was an intense battle going on in the morning as the price was […]
well, as I suggested last night, sure enough … the market opened with a gap up immediately over all the crucial moving averages. Just bounced right over them. So, we have check one small notch off the bearish stance. now, if we can hold above the moving averages intraday today and more importantly close above […]
Today was a productive day in the market, prices moved up and tested most of the smaller declining moving averages (5,10,17,20) and although they closed below all the averages, it was a good start. I still have a skeptical stance at this point and in fact added to my short positions intraday today, but the […]
Hi everyone. A quick Sunday evening update … I spent a few hours looking over charts of leading stocks in the market, and I’m quite honestly having a very hard time finding (long) places to put my money. What looked like a strong start to a rebound last week has crashed and burned. It am […]
Today was just a negative day all around … a lot of cracking in pavement as the weight of the market fell on itself. The action over the last two days reminded me of what I said after our big decline over a month ago … which is … remember the man that fell off […]
Haven’t updated the blog in a few days, been a bit swamped with family issues (both good and bad), but I wanted to give all a quick update on the market. We had three down days, then a strong up day today that reversed roughly half of the loss. The underlying internals that I am […]
Today was another productive day, although I saw a little bit of weakness creaping through. The first half of the day it seemed the market couldn’t make up its’ mind as to which direction it wanted to go, then the last 2 hours it went up aggresively and hit the high of the day, and […]