Look people. We say this constantly and it’s not a big surprise – without jobs this economy is dead. Period end of story. The ADP numbers can out this morning and expanded payrolls by 13,000 in June. These numbers were forecast to show a gain of 60,000 jobs! AHEM! Big miss folks! Friday’s NFP numbers might be scary ...…
Looks like yesterday the house passed an extension of the first time homebuyer tax credit – which would have expired today. It still needs to pass the Senate for approval but the odds are looking favorably. The housing and mortgage market for those of you who follow it is kind of in a weird place ...…
Wow, we said it might be a rough day but not this bad. Markets across the board were off more than 3%. The SPX actually stopped dead at our target we spoke about this morning on the trading video below (1,040). As for our timing, it couldn’t have been better for our new trading alert ...…
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We have done a really good job – in our opinion – of waiting for prime opportunities in the market to sell more options for the August portfolio. Considering that Monday was a dud, we didn’t want to just “force the trade.” Now that the futures are selling off heavily, we feel confident in adding ...…
I made it one of my summer goals to read more. As such I just finished over the weekend the “No Complaining Rule” by Jon Gordon. Great book and a very quick read. Here are some tid-bits I learned that might help your trading attitude: Dwelling on negative thoughts is a waste of time and ...…
A quick glance and run over the EWI iShares Italy ETF is a bit more promising than a couple weeks ago. We are not back inside the downward channel. This of course doesn’t mean that everything is hunky-dory, just better than before. I would expect the bounce off support to continue.…
My main concern and thoughts this weekend surrounded the heavy selling we experienced last week away from the 200 day moving average. I said in previous posts that we needed to not only break that level but hold above it to really get the bulls going crazy – and that did not happen. From the ...…
Today has not been a happy day for us. We never post much about political and federal events around here, but the passing of the financial reform bill obligates us to point out a few things that might other wise slip through the cracks. Ironically enough all the data and charts come from the White House. ...…
After a couple dozen emails all asking the same thing, “Is UNG (Natural Gas Fund ETF) forming a bottom?” here are my thoughts. Yes. So long as it hold above it’s breakout level and support level below, we could see the next major leg go higher. It’s got to come down just a little further ...…
Another horrible example of BIG Government trying to step in everywhere they can. Mark my words – this reform bill WILL do more harm then HELP. With more regulation comes more costs which are going to be directly passed down to you all and myself. Since when did we become a country were individuals don’t ...…
I quickly just glanced at the long term SPX chart and thought to bring up the RSI and Stochastics for it on a monthly basis. What I found was pretty alarming. We are clearly in ultra-overbought territory on the monthly chart. Fair warning has been issued.…
The GLF SPDR Gold Trust ETF chart still looks a little bit overbought on my end. We use RSI and Stocastics a lot around here. Notice that last month it was at a much better buy point than it is now.…
We just finish publishing our new option trading alert for our members. It’s a great trade and extremely profitable in this market. For more updates and market commentary see here. We also send out an updated VIDEO on the current market conditions and forecast for the coming week and month. Here’s your chance once again ...…
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