Morning thoughts for November 17, 2010

smbcapitalJoe P's blogLeave a Comment

Good morning traders. Yesterday we saw a lot of damage done to stocks as the market accelerated its move to the downside. In the short term I would not be surprised if we see a retracement in the market to the 119.80 area in the SPY. As I tweeted yesterday, I have been using FCX, GLD and SLV as my … Read More

Morning thoughts for November 16, 2010

smbcapitalJoe P's blogLeave a Comment

Good morning traders, Weak futures have us opening under last week’s lows as the market continues to pull in.  I have noticed the character of this pullback in the market is different than the ones we have seen in the previous months. Rallies are now sold aggressively as opposed to previous market pullbacks where we saw aggressive buying on dips. … Read More