- Posted by admin on February 9th, 2014 at 11:24 am
Our original post on the correction called for hard edges to trade against at $SPY 177 and 173. We got trades off both but went to cash on Friday selling all our swings (including a great support long on $CF off 220 support from our newsletter) and a freebie $BRK.B trade under 109 that we had posted real-time on our stream.
Trading against hard edges is where we excel– we have the experience and the conviction and no matter how “gross” it feels we are active in those areas. However, it’s the no-man’s land like the one we are entering this week where things get less clear. Those who didn’t buy off the 173.5 zone bottom are feeling nervous sitting in cash — thinking maybe that was the bottom? And people who sat through the decline and then enjoyed the rally up are thinking “maybe now I am back to break-even I should sell? Is this my chance?”
We don’t think market direction will clear up any-time soon. We have room to possibly 181-182 on $SPY before we hit any major resistance.
Biotechs are acting decent, financials finally found a bid, and the leaders are acting well. However we do think it will be a choppier time going forward as opposed to a trending 2013. And as visibility is reduced, we’re back to shorter holds, and more active trading.
Will it be any different this time, part II
Posted by admin on February 3rd, 2014 at 2:55 pm
On Jan 26 we posted the first part of this post, Will it be any different this time? looking at two magnet spots we thought […]
Will it be any different this time?
Posted by admin on January 26th, 2014 at 1:31 pm
At the start of any correction the question on everyone’s mind is ‘will this be a buyable dip?’ We think ultimately the weekly 20sma […]
The perfect chart and goal
Posted by admin on January 17th, 2014 at 12:10 pm
A lot of us on StockTwits fit within different variations of what is called “active trading” even though personally we have slowed down a lot […]
Government shutdown/Debt crisis in perspective — see yellow box
Posted by admin on October 19th, 2013 at 7:15 pm
Weekly chart of the $SPY — the government shutdown/debt crisis October 01-17 is highlighted in yellow. Could it have been more inconsequential in […]
John Cleese telling it how it really is
Posted by admin on September 13th, 2013 at 2:38 pm
ALERTS TO THREATS IN 2013 EUROPE From JOHN CLEESE The English are feeling the pinch in relation to recent events in Syria and have […]
Bit of monthly perspective on the Russell
Posted by admin on August 30th, 2013 at 12:11 pm
Look at the difference between the trend on the Russell $IWM between 2003 to 2008 and 2008 to 2013. Note the blue rectangle and the […]
Keep swimming but with an eye on the shore
Posted by admin on May 18th, 2013 at 11:48 am
What a market. Our mantra for months now (and if you follow our stream you will have heard this a number of times) is […]
Make peace with not catching every move
Posted by admin on April 7th, 2013 at 2:20 pm
We had two conversations about a particular trading topic on Friday — one was with a long time sub we like very much, and the […]
21 days and counting
Posted by admin on February 2nd, 2013 at 10:34 am
Our readers will recognize this chart — we caught on early to this pattern and have been posting it regularly to StockTwits. It represents […]
- Update III: Now what?
- Will it be any different this time, part II
- Will it be any different this time?
- The perfect chart and goal
- Government shutdown/Debt crisis in perspective — see yellow box
- John Cleese telling it how it really is
- Bit of monthly perspective on the Russell
- Keep swimming but with an eye on the shore
- Make peace with not catching every move
- 21 days and counting