Sunday, October 27, 2013

Indices Look Good, Slightly Overbought

In Cash as of 9/3/2013 

SPX is very close to overbought region (in red) and very likely will correct sometime this coming week.  My plan is to open my first position of four as SPX its recent low around 1740.

RTS Stocks - 1st of 4 positions in: TBD and posted later (Momentum is shifting)

Indices -1st of 4 position in: SPY, QQQ and IWM (equal $)


Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change N without notice.
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Monday, October 21, 2013

Time To Get Back In

In Cash as of 9/3/2013
 
This has been a very difficult market if you are a momentum player with a weeks to months time frame.  Two groups of traders have done well since May.  First are those who are invested very long term (quarters to years) based on fundamental analysis and second are those who play the momentum on short term basis (days to weeks).  I trade the momentum somewhere in between (weeks to months) which happens to be out of sync with what's happening with indices. 

All major indices, except for DJI, closed at new highs on Friday.  It's time to get back in.  My plan is to do my first buy of 4 in 10 RTS stocks and Index ETF's sometime this week.  I will post a detailed plan later tonight.


Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change N without notice.
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Sunday, October 13, 2013

Up ... Down ... Who Knows

In Cash as of 9/3/2013

 
Chances are good that SPX sells off to back test the new Primary Downtrend Line (PDL) and the Primary Uptrend Line (PUL) around 1670 early this week, possibly tomorrow.  A close below those two lines would be bearish, signalling a move to test the recent low (1650) and possibly 200 D-SMA around 1600.


Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change N without notice.
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Sunday, October 6, 2013

A Test of 200 D-SMA for SPX Is Likely This Week

In Cash as of 9/3/2013

 
For SPX, 50 D-SMA has been hit 4 times in the last 5 trading days.  So many hits on consecutive days has made that support ripe for a failure, very likely tomorrow.  A close below 50 D-SMA signals a test of PUL, also very likely tomorrow.  A close below PUL makes a test of 200 D-SMA (around 1600) almost inevitable.

Now that both corrupt parties in DC have dug in deep, only a scary market reaction can prevent a default and Big Money is more than happy to deliver, but he first needs to take significant profit in his high beta holdings.


Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change N without notice.
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