Friday, July 17, 2009

Workspace

This is just a handy little spot to post charts as needed for the chat room that I moderate...
Up to 100 traders, most of them are serious, lots of eyes on an ever-changing marketplace.
http://www.freetradingvideos.com/chat/ (note: sign-up is easy and free)

Here is a 10 year $vix chart for my friends in the room...


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Wednesday, July 15, 2009

Here is the current SPY hourly chart...



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Notice that the downtrend has been broken.

I took the loss in my short positions (article below) and took a few hours off to mourn the loss of my invested capital.

Upon returning, I got to work and recouped some of the loss by daytrading a few short interest stocks.

Market volatility is picking up, therefore, this would be a good time to consider daytrading. Do be careful though, three updays cry out for a profit taking pull-back.

15% of the earnings reports are due this week.... the remainder next week. Be cautious!

Saturday, July 11, 2009

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The vNewsletter is available HERE at a special discounted and grandfathered price until Wednesday the 15th. I recommend it.

Nevellier's flawed blog post (and then some)

This may seem unrelated to the markets at first blush. Ultimately, it is connected at the hip.

Typically, I enjoy reading the Nevellier blog. A recent (irresponsible) post offended me. My response to the post follows. I copied it here for posterity. If the moderators at Nevellier do not publish my comment, I will re-submit it again some day.

But here's the thing folks... We gotta start speaking up for America while she is still recognizable. Our dollars, our rights, our businesses, our courts, our Constitution, the best health care system in the world, and more might be at risk of "change." For those of us concerned about these changes, now is the time to begin speaking out.

....
Dear Sirs,
Typically, I enjoy reading your posts. This one is an exception.

"...it seems that we must hope Mr. Obama is re-elected,..."

It is not in my heart to do that.

As a patriot, I vowed to defend the Constitution which is apparently the opposite of the Obama administration. The bailouts, the takeovers, and the deficits hardly seem either Constitutionally or fiscally sound.

Your article seems to have praise for Clinton while totally disregarding the recession he left us. Also overlooked is the fact that President Bush oversaw the Clinton recession recovery and subsequent all-time market high. (I could continue in this direction but shall not.)

It seems that I hope for two things, a fiscal conservative to bring America back to her rightful position of strength, and a less biased newsletter.

----

Something to keep in mind:

"The Cato Institute was strongly opposed to the $787 billion package passed earlier this year, and would oppose additional stimulus packages on the same grounds."

"Once government expands beyond the level of providing core public goods such as the rule of law, there tends to be an inverse relationship between the size of government and economic growth," argues Cato scholar Daniel J. Mitchell. "Doing more of a bad thing is not a recipe for growth."

----

Obamacare does make for an interesting search term.

The Obama administration has sent an email to me! They want me to call my Senators (phone numbers provided) to discuss their support for socailzed healthcare. While I do intend to do just that, my response is a bit different than he suggests. This article, and this one, will be references for the calls. Sheesh... There are tons of references! For those who think that Canada is a great model to follow, here's a great list of references. I gotta "just say no." I gotta let my voice be heard. Can you do that too?

----

In effect, our President can sell "refrigerators to Eskimos" at will. Congress supports this because they enjoy the resulting commissions. Ditto, the "fourth leg" of the government, the media. That leaves the third leg, the Supreme Court. Hmm... is that arena about to receive "change?" Folks, we gotta speak out in support of the Constitution, liberty, and free markets, else, they will be gone.


Friday, July 10, 2009

New Bull Bear Indicator

Update to my bullbear-indicator-recipe
Here is a picture of my updated Bull/Bear indicator...


Click for larger, Browser back...

Its a FreeStockCharts.com chart.
Its a 10 minute/one day chart.
It's the 3x leveraged S & P index, UPRO.
It's a comparison of the 3x leveraged short S & P, SPXU.
The Volume Weighted Average Price (VWAP) has been enabled.

Note the chop and overlap from 9 to 11:00. That is a "no signal" condition... not a good time to try to identify market direction.

Note that the UPRO candles are WAY below the SPXU line graph and the red VWAP... very bearish!

Here is another way to acomplish the same thing.... but without using FreeStockCharts.com

Also see the Alternate Bull/Bear Index.

Wednesday, July 8, 2009

SPY Daily...


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The support line I have drawn has been thoroughly broken. $87.00 has been holding as the next level of support.

The Dow has a similar appearance.

I am expecting further downside, therefore, I have purchased two investments... EFU, and SIJ.
Had to overcome my natural tendancy to buy more ETF's and more shares.

Will but more bear ETF's when the Nasdaq cracks.

Wednesday, July 1, 2009