One month left!!! Last week was basically a waste of time. Took some profits from winners, added a couple things and mostly sat around bored. With one month left and volume likely to dry up toward Christmas, next week hopefully sees some better action. Plus the big anticipated ‘rate decision’ is coming this month. SPY:...
Last week was rather boring where the market remained in a very tight range. We managed to find a couple good gems, but really was a waste of a week. I imagine that range breaks next week and the path of least resistance is higher; however I think we need to be on the lookout...
Happy Thanksgiving! Here is a quick update on a few with open interest changes. Given the half day and light volume most of these will likely pin, but if we get a couple gap ups over their high calls we know there could be a winner. Remember that Friday will most likely be very very...
Last week here I was definitely leaning bearish and boy was I wrong. After the Monday afternoon strength I reassessed the evidence and flipped bullish by Tuesday morning. Not only was price invalidating my bearish thesis, but so was psychology as you can see with my comments to subscribers below. From there on, the week […]
Next week is a shortened week and there will be light volume and possibly a slow grind higher in SPX. We are coming off an awesome week so plan for next week is to keep it light in terms of starting swings, but definitely take opportunities where we see them in momentum movers. Next week...
Killer week! It just goes to show that letting go of ego is so important to trading. I came in bearish and had I stayed that way I would have been decimated. Instead we banked big time. Next week is a shortened week because Thursday is closed and Friday is a half day. That will...
Last week here I was neutral short term, but expecting pullbacks to be bought. Here is what I wrote: Main view for next week: I’m neutral as to whether we move higher, consolidate sideways or pull back. You may not find that helpful, but I’m not going to lie and tell you I have a strong […]
Last week was something to sit-up and take notice of. It was a definite sign that the rally from the September low was a bear market rally and not the resumption of the bullish trend since 2009. It is still too early to know, but as of now it is looking much more like it....
After an amazing streak, last week was rough. It happens. It is part of the game and now it’s time to shake it off and come back with a clear head so we can get back onto a winning streak. I read that the last time we had a fall similar to last week after...
Just kidding, I know the answer. Last week here, I was bullish overall, but biased for a minor pullback. However, I wrote “Although I am biased toward a minor pullback ensuing next week I am open to the possibility that it won’t take place. What would change my mind is a further rally above Friday’s high with internal […]
SICK SICK SICK week! Ok moving on. In a strong market similar to the last month, pins tend to get destroyed and price moves above the highest calls with strength (this happens the opposite way in a very weak market). As you may have noticed I have been less focused on pins and call resistance...
We have had an amazing month and I remember last weekend saying that gains that big will be harder to come by and yet we had an even better week last week. So I feel the need to remind myself mostly (but also you guys) that expecting such huge returns often leads to greed and...
Last week here, I put forth another case for the bulls after already being a bull for three straight weeks. That of course worked out very well. Last week I also made it very clear here and several times on twitter, that a weekly MACD cross has resulted in a higher close the following week 10 out […]
Is the Path of Least Resistance too Ambitious?
Last week here instead of just writing about what I expected from the market as a whole (since my expectations were of mostly a grind) I gave some stock ideas. All of the ones that triggered except for one reached at least its initial target (with room for more) and one is still on its […]
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