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05 Aug 2010 No Comments
in Life Tags: China, technology
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Thoughts Headed into Monday
25 Jul 2010 No Comments
in Investing Tags: SPX, trading
We have entered the land of great looking swing technical setups against the backdrop of shaky economic data and generally good earnings reports. What do we do? There are numerous charts that are very attractive – simple triangles, resistance busters, etc., but economic data reports continue to show that we’re in a slow motion recovery cycle. At the same time, earnings have been strong with somewhat optimistic outlooks.
Then there is the consumer.
There are two numbers I look at when I think about the consumer – Consumer Confidence Index and Employment. If you just look at those, you’ll have a snapshot of the mood of the American consumer and their willingness/ability to spend. Both numbers suck – period. OK… maybe not suck, just not showing improvement.
Look at this confidence chart.. it is a few weeks old, but you get the idea. With this number headed in the wrong direction, I can’t be too eager to heavily positioning myself in long swing positions. This chart is just not bullish.
Read full post at BullsOnWallStreet.
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Desk For Sale
06 Jul 2010 No Comments
Solid wood desk in good condition. A few minor scratches (wear) and cup rings on finish (see below). Large workspace 60″ wide x 30″ deep. Includes keyboard drawer.
$50
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Latest Market Thoughts
30 Jun 2010 No Comments
in Investing Tags: SPX, trading
Latest Market Thoughts.
Bahh, humbug!
I don’t have to tell you that today was ugly (unless you were in the Boom Factory and played some TZA today) as most traders continued to move out of securities and into cash/safe havens on fairly significant volume.
Fear loomed as the SPX closely challenged 1040 until finally the succumbing to the pressure with only 30 minutes left in the day. It was like a black hole – you can circle it all you want, but eventually you’re just going to lose out to the overwhelming gravitational pull.
However, once we did plummet into 1040, we opened our eyes and realized that 1040 may not guarantee doom and gloom. With this eureka, a few buyers came in just before the bell.
Read the rest of this post at BullsOnWallStreet.com
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Market Still Unsure – Same Ol Story
23 Jun 2010 No Comments
in Investing Tags: SPX, trading
Hello, fellow Bulls.. bears, opportunists, whatever 
Before I get into my current market read, I must say that I’ve really enjoyed the Boom Factory this week – great traders having a good time. Makes me excited about Bulls 3.0 that will be launched next month. Good times.
Ok, so what’s up with the equities market? Nothing good. That’s for sure. Feels like we’re consistently releasing disappointing economic numbers (housing, etc) and not much has changed in the news – Europe is a mess; Gulf is a mess; Financial Regulation is in limbo; consumers are nervous. The story is the same, but the day is different. So, at the risk of sounding like a broken record, I’m not swinging overnight and am continuing to search for intraday pops.
Quick read of the SPX – neutral to bearish in the near term. It’s currently trapped between SMA20 and SMA200 with unattractive MACD and RSI14 dropping below 50. There is, however, some horizontal support here, but it is weak.
Tomorrow morning, there are two things I’ll be watching – if SPX holds SMA20 and the economic reports scheduled to be released before the open -
- Durable Goods Orders – M/M change consensus -.5% range -2.5% to 1.5%
- Jobless Claims – New claims consensus 465k range 445k – 470k
These two data points will likely shape the morning and will offer a gap up or down in all livelihood.
Read the rest of this post at BullsOnWallStreet.com
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Market Congested and Nervous (still)
21 Jun 2010 No Comments
in Investing Tags: SPX, trading
Still Congested. Swings are tough and scalps aren’t much easier.
Today was another tough day for traders eager to find direction in an overall messy market. The SPX hasn’t experienced 3 or more consecutive up days since early April and is still trading under its SMA50. More importantly, it hasn’t convincingly moved through SMA200. Since the close above SMA200 last Tuesday, we have basically moved sideways. In fact, today the SPX finished below last Tuesday’s close. We’re treading on thin ice.
Read the rest of this post at BullsonWallStreet.com
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