Quick Hit Game Plan

1. SPY has decent long entry here at support. Tight stop.2. Short SPY and watchlist stocks on bounce.3. Many watchlist short setups can be entered long as snapback trades if we get major weakness in the coming days.4. Tech looks bad. Short Qs on stength.

Game Plan For Monday

Here is my detailed plan for Monday and the coming week, as sent to subscribers in today's Trade Report:May 18, 2009Market Notes:The market has pulled back close to the entry point we've been watching (87-88).  The pullback is not ideal, as price has not pulled back in an orderly fashion.  Also, while volume is not... Continue Reading →

Thinking Out Loud (both on and off topic)

1. The overall market looks good, but resistance is looming.2. A few more points down and I will start letting go of my short positions (already got rid of RTP).3. I will likely enter SPY around $87-884. Most stocks are pulling back with bullish undertones (low volume, orderly price movement).5. Lots of good looking breakout... Continue Reading →

SPY Chart Analysis

I posted the SPY chart that I sent to subscribers last night without any annotations and a few blog readers weren't quite sure what the chart meant. The key is the two line drawn and support and resistance. If SPY gets close to the top line (around $93-95), that sets up a great short entry.... Continue Reading →

Spy Chart

I currently have only one positions (SPY at $84.03). The chart below show looming resistance levels, which correspond with my targets.

Blog at WordPress.com.

Up ↑