Whether you are enjoying this rally from the March lows is besides the point right now. The fact remains that we have just witnessed one of the biggest rallies from a major bottoms in nearly 20 years. And still, some people believe that it will continue on until we reach 2007 highs – honestly there are ...…
The August portfolio was once again extremely profitable with another month without ANY losses! Although our QQQQ 40 Call gave us a bit of a scare this week, we were still able to close it out early with a profit of 3.30%. As many of you know, we entered many of these positions during July when ...…
Our outlook has not changed, we are still looking for the price to follow thru on the daily chart pullback that developed. On the daily chart of the rut, djx and spx we have some oversold pressure appearing, and on all 4 of the daily charts the oscillator is starting to cross down thru the ...…
Another option expiration week is upon us – which only means one thing usually…more volatility! While I’m hoping for another down week, we must prepare for everything in between. Right now the futures are pointing much lower. Last night I took a look the the Open Interest for the SPY, DIA, and QQQQ August Options. ...…
We begin the day yesterday with some minor selling pressure in the pre-market futures. The economic calendar is relatively light this week, with the major focus likely to be the FOMC decision on Wednesday, for whatever that’s worth. Heading into the next two weeks, we’ll be seeing some of the lightest-volume days of the entire year, ...…
After we get a pullback, is it still okay to buy? Long-time readers will undoubtedly recall our discussions of breadth surges and the long-term buy signals associated with such an event. The idea is that when the breadth of the market surges to the upside and advancing issues swamp decliners over a 10-day period, the resulting ...…
We begin the day with a large gap up in the pre-market futures as the payroll report was stronger than expected. Well, at least to those who ignored Goldman Sach’s revision to their estimate yesterday, which just happened to be right on the mark. Their success with last-minute revisions are certainly something that will not ...…
The NFP employment numbers just came out this morning showing better than expected at 9.4%. Looks like we are going to be headed much higher today per the futures trading earlier on. On the S&P 500 I have put up two different targets for support and resistance in GREEN. Most likely we are going to ...…
Okay – essentially they are running the market “right now”…but not for long and only because people are “scared” of them. I’ve gotten a mailbox full of emails from readers asking about the Goldman article in bloomberg yesterday. Remember the one about them making $100M in trading revenue basically every day in July? Yeah that ...…
More of the same yesterday as the indexes had a late day rush higher. However, looking at the chart of the NASDAQ-1000 you can clearly see why trader might start rushing for the exits around this 165 level. This presents a great opportunity for us option traders. Clearly defined support and a pull-back target of ...…
Seems like 1,000 on the S&P 500 is going to be a big level to get through. The markets just keep rallying and falling away from the same area time and again today. But, after looking through a lot of ETF charts, we found this one for you all: XLB Spiders Materials. As you can ...…
Another huge week for the markets coming up. Another 18% of the S&P 500 will report earnings, but the shift will move from major market leaders to second tier companies. Very few of the reports will be major market movers like we’ve seen in recent weeks. I expect the impact of earnings to diminish substantially in the coming ...…
The major indexes managed to close the week with a gain but were it not for Thursday’s short squeeze it could have been a much different story. The markets shook off a GDP number on Friday that was better than the consensus but far below the whispers circulating on Wall Street. The first look at ...…
 5,691 Facebook Fans |
 10,063 Twitter Followers |
 6,774 RSS Subscribers |