Summer trading is gay. Momentum doesn’t follow through and volume is light.
That said, the market is at support on the upward trendline, and I think you can buy it here for a trade.
Be careful it doesn’t break below the support line.
This trade is short term in nature. Don’t forget the bigger picture.
Also, re FMCN, [...]
Here’s a look at the S&P versus the famous VIX.
The S&P is color coded
BLUE : The VIX is below the 21-day MA 2:2 bars
RED : The VIX is above the 21-day MA 2:2 bars
GOLD : The VIX is below twenty
Conclusions:
I haven’t tested a whole host of MAs and arrangements, but my main takeaway is that [...]
Since Cramer’s egregious bottom call, which was poorly timed, stocks have NOT been sold down in a big way. Commodities of every lame variety and use have shit a collective brick, and that is bullish for the market’s perception of things. I was told commodities and Fins will lead this market. Well, the [...]
Looks like the short squeeze is here…sort of. I wouldn’t get too worried.
In telechart, I run an oversold scan and yesterday there was the highest number of stocks on the list ever. At least from what I can recall. Usually there are a couple hundred on the list and yesterday there was a +1,000.
I translated [...]
Orange County, home to rich sluts and their sexy mothers, is running into tough times.
Scroll down on this page if you want to read the links.Â
All in all, it makes sense to get long retailers in size.Â
…Not.
I am getting my balls punched in today, down to the tune of 1.9%.
Mostly it has to do with the fact that all the things I’m short are up, and the things I’m long half down. That’s always fun.
The iBC Machine and a few other oscillators I look at (T2s) hilighted the possibility of a [...]
The Senate just blocked tax breaks for wind and solar companies, I would expect them to trade lower, even after (CSIQ: 32.20 +1.26%)’s huge run. That’s a catalyst to sell in my book, just FYI.
I would watch the solars (FSLR: 278.67 +2.08%), (CSIQ: 32.20 +1.26%), (SPWR: 95.24 +4.01%), (SOL: 19.07 -0.21%), (JASO: 18.11 +0.84%), [...]
Days like today bolster my confidence in the iBC Machine. It clearly showed a lack of accumulation in the last few days, narrow leadership, all combined with an overbought condition. A sell-off was anticipated, allowing me to sell positions into yesterday’s strength and NOT add new positions at what would have been a [...]
Sort of a veiled reference to Uncle Howard there. (Hey Unc, it was my b-day in April, where’s my present? Spain was probably present enough, I guess, belated thanks for footing that bill. Lindz, you’re a scholar and a saint and I mean that).
More pressingly, the Financials have to power to take [...]
Great Odin’s raven, 75 points AH!
Google has only gapped up 10% twice, so I can’t draw any major implications from this, other than that it is pretty goddamn rare. Coincidentally, they occurred 10/22/2004 and 10/21/2005, exactly a year apart. Also, both times saw GOOG’s pps rise 10% and 15%, respectively, following the beat. [...]
