Good morning traders. Market continues to trade in the range I have been highlighting over the past few sessions. I am not really expecting a major break until the start of earning season when the market has some fresh catalysts. In terms of my trading strategy I am have been focusing on inlay stocks as these are the most likely … Read More
Morning Thoughts for October 4, 2010
Good morning traders. SPY’s continue to trade in a 2 point range as we digest the markets previous upswing. This action can be seen as positive for the market given that buyers are willing to accumulate the market at these levels. We can see rotation taking place as the laggard sectors are catching up while the leaders (tech) are taking … Read More
Morning Thoughts on October 1, 2010
Good morning traders. Yesterday I wrote that “I will be watching XLF and OIH as market tells; we need to get some more sectors involved if the rally is really going to have some legs in it.” Indeed financials worked as a very good tell. Its very important whenever the market is a major inflection points that you understand what … Read More
Morning Thoughts on September 30, 2010
Good morning traders. Inside day yesterday is constructive for the bulls as the market is consolidating its previous run without giving gains back. I will be long the market over 115, waiting until it holds higher to really load up on the long side. I will be watching XLF and OIH as market tells; we need to get some more … Read More
Morning Thoughts on September 29, 2010
Good morning traders. SPYs took an early morning dip as the tech leaders saw some rest and pulled back/ consolidated. Its impressive to see how resilient the market is. Lower prices bring in aggressive buyers, something that is very important to the health of the rally. In terms of the SPYs chart the longer we spend above 113.20 the higher … Read More
Morning Thoughts on September 28, 2010
Good morning traders. Futures up slightly overnight have us opening near the 114.40 level in the SPY. I am starting to see signs of some exhaustion among some of the leading stocks, particularly AAPL which gave back its gains and closed right above is 60 min trendline at 291. My major tell in the market is going to be how … Read More
Morning Thoughts on September 27, 2010
Good morning traders. Market is gaping above the SPY 114.50 resistance which was a very important technical level last week. For today’s price action I am going to use the level as my pivot. I am going to be long above it and look to lighten up or get flat if the market starts to fail. I don’t really want … Read More
Morning Thoughts on September 24, 2010
Good morning traders. Futures strong premarket has us opening just off of yesterday’s highs. The price action around 1132 will be a big clue as to what to expect for the remainder of the day. If the market is able to hold above this level and consolidate A possible trend day to 1140 could be very possible. This is a … Read More