Archive | June, 2010

Daily Reflection: 06.21

22 Jun

Looking to add to longs on a move above the high of the low day in this pullback. We still have unfilled gaps on the ES to the downside at 1085.50 and 1054.75 and to the upside at 1155.00 and 1198.75.

Wk25: Watchlist

21 Jun

Watch for a break above the high of low bar on a pullback into a long, and a break of the low of high bar for a bounce into a short.
The below names should provide decent setups this week.
Bullish: AAPL GNW, GLD, HSYRIG, SLB, UAUA
Bearish: BX, GS, QCOM, SYMC

Wk24: Market Recap

21 Jun

The market, while bullish this week, is in the midst of a possible head and shoulders pattern on the weekly timeframe. We will be watching for a break below the low of the prior week’s bar on the move up to get short.

Wk25: Market Forecast

21 Jun

In the week ahead look for these news announcements to act as potential market movers
The Fed will release their FOMC Minutes Wednesday so expect a volitale intraday session in the morning of 6/23. Friday’s GDP could send the market sailing up or down so we are positioning delta neutral early in the week.

We are trading at all the way halfway back from highs to lows. $1148 on the S&P is the line in the sand, bullish above cautiously bearish below.

Daily Reflection: 06.17

17 Jun

The VIX (Volatility Index) has pulled back which brings up the idea that there could be some sustainability to this rally. We are expecting a bullish OPEX Friday and a selloff to the 20MA next week. This will provide a great opportunity to put on new positions, both long and short.

Took profits on some GLD, looking to grab more if it dips to $120.

Daily Reflection: 06.16

17 Jun

If you’re still buying June options, well, shame on you. Options Expiry is Friday and it is also a Quadruple Witching. Look for continued strength to end the week and a selloff next week.

Daily Reflection: 06.15

15 Jun

Today we saw a close above the 20 Period Moving Average across the top line figures. This is something we have not seen since early May. We are bullish for the time being, however do see shorts setting up in the near future. Looking deeper into the leading industry groups we see things like Paper and Tires, rather than Banks and Biotech’s, thus are labeling this as a dead cat bounce until we break $1148 on the S&P.
Since GLD broke to the upside we dumped the put portion of the position, dumped our FXE puts at the open and added an ERTS short at the close. We continue to hold WLP and SNDK as well as a handful of the other names talked about in the weekly watchlist.

Daily Reflection: 06.14

15 Jun

The S&P failed to close above its 20EMA which is the trend changing level we have been talking about. We touched the $1101.75 gap fill from 6/3 to the tick and it ended up being the high for the day. A break above the high of today and we are bullish, break below and we are bearish. A big move is on the way.