Tuesday, January 15, 2008
Alert: GDX
The metals are finally beginning to break down, we will take a 1/4 short position in GDX. Sell short 25 shares GDX @ 51.46 stop @ 52.61
Market Watch
The SRS gaped way up today so we will have to wait for an entry, do not chase it here. OIL is still in the well defined down trend alluded t...
The Death of Ponzi
In the December 9 issue of the San Francisco Chronicle (link 2) there is a great article by Sean Olender. It pointed out that none of the a...
Monday, January 14, 2008
Trade Alert: OIL
The OIL is maintaining the down trend established in the daily chart from 58.33 (Link). As long as it trades beneath the 8 day EMA we remain...
Trade Alert: SRS
Who besides the Wall Street media believes the housing market is near a bottom? Well then put your money where your mouth is and short the S...
Trade Update: IVV SPY
We are long the IVV from 140.38 and short the SPY from 139.15. We entered long the IVV at 140.38 on Thursday which is exactly where it close...
Friday, January 11, 2008
Trade Alert: CFC
Place a buy stop on Country Wide Financial for the full position. Buy to cover 125 shares CFC @ 6.87 Stopmarket.
Thursday, January 10, 2008
Trade Alert:GS BSC
The Plunger Protection Team huddled publicly in the oval office Tuesday, then rate cut rumors followed by a turn around yesterday in the sto...
Wednesday, January 9, 2008
Plunger Alert: SPY IVV
Well we shorted a full position of SPY today at 139.15. Around 3:30 I noticed the market running up into the close with a yawn, it was just ...
Trade Update:GDX
We could have an island reversal taking place on the GDX. If GDX gaps down under 50 that's what it will be. if not we will get out of th...
Trade Alert: OIL USO
Look at the weekly chart of OIL in link 1. As has been mentioned the last two price bars of November indicated a reversal was in store. Whil...
Market Update: S&P500 (SPX)
Following yesterdays post the bounce failed to materialize. The SPX did briefly break 1425 to 1430.28 before failing and falling to 1390.19 ...
Tuesday, January 8, 2008
Trade Alert:GS
It looks like they are going to try to take it up this morning. I will be looking to enter Goldman Sachs for the bounce. If it gaps don'...
Market Update: S&P500 (SPX)
When the SPX broke the 1440 support level there really was no other stopping place until the 1410 level where it closed yesterday (Link 1). ...
Monday, January 7, 2008
Trade Update:OIL
We are now short 100 shares of oil after covering the 100 shares sold @ 56.97 for 55.37. That's a 1.60 point profit or 56.97/55.37 = 1.0...
Trade Alert GDX
Take a 1/2 short position on GDX Sell short 50 shares GDX @ 49.30 buy stop 25 shares @ 50.30 buy stop 25 shares @ 51.30
Friday, January 4, 2008
Alert OIL
We are going to add to the OIL short Sell short 100 shares OIL @ 56.97 with a buy stop @ 57.8 We are now short 150 shares.
Thursday, January 3, 2008
Forced Margin Calls and Chicken Littles
Do you remember when the CNBC crowd was telling us everything is rosy, Cramer was singing you buy high and sell higher, while Mozillo was pu...
Trade Alert:OIL GDX SLV GLD IAU
It looks like oil gold and silver are getting ready to pull back. The SLV and GDX are particularly top heavy. They have been running the met...
Wednesday, January 2, 2008
Alert USO
The USO is wedged between the horizontal line at 77.59 which is the 52 week high and the up trend line which began in December at the most r...
Trade Update: USO OIL
There is some news out today that is pushing the price of oil over $100.00 per barrel. The world is finally realizing that cheap oil is no l...
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