It’s been a very long consolidation and the movement on the indexes has been slow and choppy, but we have had some good gems so no complaints. The market finally made a new high after working off overbought conditions through time. Does that give us the all clear? I’m going to say no and likely any...
Last week here I wrote that the longer term trend was higher, but that there would likely be a pause, chop, and a grinding lower. I was right about all of it except that latter part as there really wasn’t much grinding lower. In fact BEFD (Buy Every F’N Dip) has not let up at […]
Last week the theme was patience and although I wasn’t expecting new highs, that patience is what helped us be profitable. There was a lot of chop during the week and if we had piled into weekly long options those options would have been eaten by premium. Think about this, the high two Friday’s ago was...
The last two weeks I made it pretty clear to Buy Every F’n Dip (BEFD). Unfortunately for those not well positioned there wasn’t much of a dip to take advantage of. Here is last weeks post. The easy part (for the time being) is likely over. Looking out several weeks though, the market looks set […]
Awesome week. We rode the wave and got out many of our positions just in time. As I had explained, when things are working too well it’s time to tighten up while things are good, even if things still look very bullish. At this point I am still bullish looking out a few weeks; however,...
This was originally published form subscribers on 7/9/16 The premise for last week was that we had to be patient and pick our spots carefully and not expect huge gains even though I was bullish. Most of the week was choppy and as I had said hard to make money with options. Friday was obviously […]
Last week here I made it pretty clear that my premise was to buy every dip. I actually didn’t think the market would pullback as much as it did, but for those that were buying it was a gift. Next week is monthly OPEX and at the moment SPX has nothing to contend with except […]
The premise for last week was that we had to be patient and pick our spots carefully and not expect huge gains even though I was bullish. Most of the week was choppy and as I had said hard to make money with options. Friday was obviously a different story and even surpassed the 212...
Last week here I discussed that the market had lower to go, but was in a good position to begin looking for signs of a swing long. First, I admittedly had no idea that swing would come Monday. I highlighted that the market was short term oversold and likely had a bounce coming, but a swing […]
What an amazing buying opportunity Monday was. Unbelievable move. And how crazy was that quarterly pinning?!? Based on how the rest of the week went, I think it’s more probable that we see new highs before we see Monday’s low breached. Having said that, the market has been in a range for about 2 years...
A Rumbling Below the Surface
Last week in a post titled Reasonable Expectations I wrote: In sum, I wish I had something more impressive to say, but I’m not going to spend time trying to find something that makes me sound smart. The upside seems limited, but trying to time a short without a signal isn’t attractive. Thus for short term traders, […]
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