Developing...
Original link HERE
Sunday, September 26, 2010
Thursday, September 23, 2010
Major Change
Going to be some major changes to my blogging and trading life - as of right now I've spent the last month working and researching a new trading strategy using leveraged and inverse leveraged ETFs. I've practiced these strategies on and off in my swing trading account but I haven't focused on them as much as I will when I am testing this strategy.
As for this blog - it will be deceased shortly. I won't reveal the full details as to what I'm moving onto, but it is, indeed, bigger and better things.
Since the beginning, blogging, trading, and presenting ideas turned from a hobby into a passion. I will be teaming up with some very talented, young individuals to pave the way for a better community introducing new students to the market.
More details later...
As for this blog - it will be deceased shortly. I won't reveal the full details as to what I'm moving onto, but it is, indeed, bigger and better things.
Since the beginning, blogging, trading, and presenting ideas turned from a hobby into a passion. I will be teaming up with some very talented, young individuals to pave the way for a better community introducing new students to the market.
More details later...
Thursday, September 16, 2010
GIRL GIMME THAT
I yell this at my chart screens everyday before I wake up. Every time I do so, I profit. That's my trading secret.
Not really. Update later.
On a side note, Gold feels all bubbly.
Not really. Update later.
On a side note, Gold feels all bubbly.
Tuesday, September 14, 2010
SPY Levels September 14
Couple of things - I know it's been a while since I posted. Just extremely busy lately. Anyway, check this out:
RESISTANCE
There's a few levels I'm watching for the $SPY right now - 113.20 obviously as resistance - pretty much everyone and their mom is watching that price. I highly doubt, being this overbought, that we can just bust through this level.
If we reach this tomorrow I'll probably load up short via ETF's (probably $TZA, maybe $QID or $SPXU) but that doesn't mean I'm expecting us to get obliterated.
SUPPORT
111.40 would be a gap fill from the other day, and 111.20 would be the 200 MA - both look great as support. After that, I'm looking at 110.10 as previous resistance and prior support of the downward wedge we broke out of. A consolidation on any of these levels with stochastics pulled back to a less overbought condition would look very bullish.
RESISTANCE
There's a few levels I'm watching for the $SPY right now - 113.20 obviously as resistance - pretty much everyone and their mom is watching that price. I highly doubt, being this overbought, that we can just bust through this level.
If we reach this tomorrow I'll probably load up short via ETF's (probably $TZA, maybe $QID or $SPXU) but that doesn't mean I'm expecting us to get obliterated.
SUPPORT
111.40 would be a gap fill from the other day, and 111.20 would be the 200 MA - both look great as support. After that, I'm looking at 110.10 as previous resistance and prior support of the downward wedge we broke out of. A consolidation on any of these levels with stochastics pulled back to a less overbought condition would look very bullish.
Thursday, September 2, 2010
August Recap
Started off the month with consecutive losses - I finally got caught in the choppiness. It's ok though - made several VERY profitable trades late in the month (SA, SFSF, LRCX) with full positions that allowed me to end the month positive roughly +4%.
Today we got a little rally - I expect there's not much movement because of the nonfarm payrolls coming out tomorrow - which I'm going to expect the unexpected and assume it will be better than expected.
I'm trying to find some long setups right now that haven't already run - not having much luck at the moment. Nothing a SCREAMING buy as of last night - I made a trade out of boredom it almost seems today and partly regret it - in $BRCD. If we get a pop in the market tomorrow I still think this will run - it's trying to break out of a big channel.
More later...
30/
Out $SFSF 21.50 (+1.43)
25/
Covered $TPX 26.72 (-.38)
14/
Out $SA 26.63 (+.78)
Out $TXN 24.20 (-.42)
13/
Out $SPXU 32.87 (+.34)
11/
Out $LRCX 41.26 (+.53)
Out $YUM 42.24 (-.66)
4/
Out $PEET 41.45 (-.70)
3/
Out $HOV 4.50 (-.11)
Out $RCL 29.29 (-.66)
Today we got a little rally - I expect there's not much movement because of the nonfarm payrolls coming out tomorrow - which I'm going to expect the unexpected and assume it will be better than expected.
I'm trying to find some long setups right now that haven't already run - not having much luck at the moment. Nothing a SCREAMING buy as of last night - I made a trade out of boredom it almost seems today and partly regret it - in $BRCD. If we get a pop in the market tomorrow I still think this will run - it's trying to break out of a big channel.
More later...
30/
Out $SFSF 21.50 (+1.43)
25/
Covered $TPX 26.72 (-.38)
14/
Out $SA 26.63 (+.78)
Out $TXN 24.20 (-.42)
13/
Out $SPXU 32.87 (+.34)
11/
Out $LRCX 41.26 (+.53)
Out $YUM 42.24 (-.66)
4/
Out $PEET 41.45 (-.70)
3/
Out $HOV 4.50 (-.11)
Out $RCL 29.29 (-.66)
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