I've been pretty repetitive about ICE, but I'm just crazy about this one.
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http://slopeofhope.com/ImageProxy?imageid=1308&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1308&state=present&height=600&width=600
I am counting on a drop in gold, and my short in ABX is my favorite one there.
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http://slopeofhope.com/ImageProxy?imageid=1309&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1309&state=present&height=600&width=600
EOG pierced its necklined beautfully on Thursday.
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http://slopeofhope.com/ImageProxy?imageid=1310&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1310&state=present&height=600&width=600
Honeywell's breakdown under its consolidation range makes for another nice short.
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http://slopeofhope.com/ImageProxy?imageid=1311&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1311&state=present&height=600&width=600
And another one of my "dainty little H&S" patterns is NIHD.
And another one of my "dainty little H&S" patterns is NIHD.
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http://slopeofhope.com/ImageProxy?imageid=1312&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1312&state=present&height=600&width=600
After such a dynamite time lately, I am putting on my Cautious & Humble hat, because after a load of profits, it's easy to screw up. I have no intention of repeating the mid-March through mid-May fiasco. I have reduced my risk substantially, and I intend to play what I see as a firm likelihood of a bounce conservatively.
Once again, I probably won't be able to do a new post until late night Monday, although I'll probably pop into the comments section now and then. Thanks for coming by, as always!
Posted: 04:01 下午 | Comments (View) | Permalink
六月 24, 2008 - 04:16 下午Back in the USSRAll my fretting today was pointless. As is so often the case, just letting the stops do their work, and let the market go where it will, is the best policy. As most of you know, since I was on a plane during most market hours today, I was really stressed out about what I was missing. But, in spite of all the ups and downs - some of them terribly worrisome - it ended up just great. This is the kind of screen I like to see on my portfolios.........all red at the top (the indexes) and all green at the bottom (the net daily change for each of my positions).
http://slopeofhope.com/ImageProxy?imageid=1225
I've got to say, since I'm a hopeless worrywart, I am starting to be concerned about an intermediate term bottom. Looking at the Dow 30, for instance, there's a pretty formidable Fibonacci line coming up at around 11,500, which isn't that far away. We have, after all, fallen about 1300 points in just the past month or so.
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http://slopeofhope.com/ImageProxy?imageid=1206&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1206&state=present&height=600&width=600
The Transports, too, are nearing a Fibonacci level, although please note this retracement series is on a much shorter time scale than the $INDU's, above.
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http://slopeofhope.com/ImageProxy?imageid=1207&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1207&state=present&height=600&width=600
My "purple line in the sand" turned out to be just as strong a level of resistance as I hoped. We are getting close to a channel line that - - yet again - - could represent substantial support.
My "purple line in the sand" turned out to be just as strong a level of resistance as I hoped. We are getting close to a channel line that - - yet again - - could represent substantial support.
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http://slopeofhope.com/ImageProxy?imageid=1208&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1208&state=present&height=600&width=600
Let's keep beating a dead horse here..........the $NDX is already at its Fibonacci level, and its "spinning top" candlestick suggests a pause here. What better day for a bounce up in the market than Bernanke & Company's announcement.
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http://slopeofhope.com/ImageProxy?imageid=1209&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1209&state=present&height=600&width=600
Oddly, the Russell 2000 looks like a good, solid short to me. I've got a bunch of puts on this, and they're doing terrific. I've tinted in green the target price level. So I'm sort of in love with the $RUT after a hiatus.
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http://slopeofhope.com/ImageProxy?imageid=1211&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1211&state=present&height=600&width=600
As disgusted as I was with OIH, I still watch it, and I really do wonder if we're seeing a failed breakout here. This pattern is pretty ugly for the OIH bulls. It's just one day, but it's not a good sign for them.
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http://slopeofhope.com/ImageProxy?imageid=1210&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1210&state=present&height=600&width=600
Lastly, my $CZH comment a few days ago (about bouncing away from that tinted area) turned out to be correct.
Lastly, my $CZH comment a few days ago (about bouncing away from that tinted area) turned out to be correct.
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http://slopeofhope.com/ImageProxy?imageid=1205&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1205&state=present&height=600&width=600
The following avalanche of charts I offer without commentary, except that I really, really like 'em (and have either puts or short positions on each of them).
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http://slopeofhope.com/ImageProxy?imageid=1212&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1212&state=present&height=600&width=600
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http://slopeofhope.com/ImageProxy?imageid=1213&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1213&state=present&height=600&width=600
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http://slopeofhope.com/ImageProxy?imageid=1224&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1224&state=present&height=600&width=600
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http://slopeofhope.com/ImageProxy?imageid=1223&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1223&state=present&height=600&width=600
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http://slopeofhope.com/ImageProxy?imageid=1222&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1222&state=present&height=600&width=600
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http://slopeofhope.com/ImageProxy?imageid=1221&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1221&state=present&height=600&width=600
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http://slopeofhope.com/ImageProxy?imageid=1220&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1220&state=present&height=600&width=600
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http://slopeofhope.com/ImageProxy?imageid=1219&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1219&state=present&height=600&width=600
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http://slopeofhope.com/ImageProxy?imageid=1218&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1218&state=present&height=600&width=600
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http://slopeofhope.com/ImageProxy?imageid=1217&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1217&state=present&height=600&width=600
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http://slopeofhope.com/ImageProxy?imageid=1216&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1216&state=present&height=600&width=600
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http://slopeofhope.com/ImageProxy?imageid=1215&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1215&state=present&height=600&width=600
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http://slopeofhope.com/ImageProxy?imageid=1214&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1214&state=present&height=600&width=600
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http://slopeofhope.com/ImageProxy?imageid=1213&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1213&state=present&height=600&width=600
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http://slopeofhope.com/ImageProxy?imageid=1212&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1212&state=present&height=600&width=600
Tomorrow (Wednesday) is going to be pretty interesting. We've got durable goods orders in the morning, then Bernanke at 2:15 EST, and them a bunch of interesting earnings (ORCL and RIMM) after the bell. I'll probably do a post sometime intraday. See you then!
Posted: 04:16 下午 | Comments (View) | Permalink
六月 23, 2008 - 01:51 下午I'm Keeping George in My ThoughtsI received a lot of nice emails about my regarding George Carlin's passing today. I appreciate those. Sometimes people would rather share thoughts privately than publicly, and I completely understand that.
Please be reminded that I'm traveling on Tuesday, so there will be no post until after the market's closing. I'll be nervously fidgeting in the air, not even benefiting from seeing how the market opens. I'll have a brief intra-market-day layover to check on things. With the Fed announcing on Wednesday, hopefully Tuesday will be sedate.
I'm pretty excited about the prospect of IWM breaking the blue line you see below. I am getting re-enamored with the Russell as a trading instrument.
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http://slopeofhope.com/ImageProxy?imageid=1194&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1194&state=present&height=600&width=600
Whereas I'm sick and tired of energy. This has been a boondoggle. I think I'm just going to stay away from OIH for a good, long time. Maybe crude's oil to $500 a barrel. Who knows. I'm tired of guessing.
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http://slopeofhope.com/ImageProxy?imageid=1195&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1195&state=present&height=600&width=600
Just a few quick ideas to chew on tonight. CSX looks interesting; it violating its resistance somewhat, but appears to be turning back down.
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http://slopeofhope.com/ImageProxy?imageid=1196&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1196&state=present&height=600&width=600
RIMM, which I think reports after Wednesday's close, is just a shot-in-the-dark on my part. This is one of those "well, it's got to fall one of these days" plays that either goes to $0 or works out great.
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http://slopeofhope.com/ImageProxy?imageid=1197&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1197&state=present&height=600&width=600
I like R as a short, but I'm kind of bugged that the options are surprisingly thinly traded.
like R as a short, but I'm kind of bugged that the options are surprisingly thinly traded.
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http://slopeofhope.com/ImageProxy?imageid=1198&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1198&state=present&height=600&width=600
RJF is one of the financials that hasn't suffered as badly as its peers, but I think that could change soon. I'm shorting this one.
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http://slopeofhope.com/ImageProxy?imageid=1199&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1199&state=present&height=600&width=600
Here's one that got away - AutoZone (AZO). I wrote about its diamond pattern many times, but I didn't stick with it. Shame on me.
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http://slopeofhope.com/ImageProxy?imageid=1200&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1200&state=present&height=600&width=600
Bank of America is the biggie out here in California, and I'm just blown away by what kind of fall this is taking. It has lost about 50% of its value in the past year. Below is a ten-year, weekly chart. What a plunge!
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http://slopeofhope.com/ImageProxy?imageid=1202&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1202&state=present&height=600&width=600
I'm glad I gave up on my GENZ puts. I made a small profit on them, but I was noticing it was not behaving as it should, so I got out. When a pattern acts abnormally, that's a sign to move on. Doing so worked out in this case.
I'm glad I gave up on my GENZ puts. I made a small profit on them, but I was noticing it was not behaving as it should, so I got out. When a pattern acts abnormally, that's a sign to move on. Doing so worked out in this case.
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http://slopeofhope.com/ImageProxy?imageid=1203&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1203&state=present&height=600&width=600
I don't have a position in EZU, but its progress on the H&S formation is pretty to watch.
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http://slopeofhope.com/ImageProxy?imageid=1204&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1204&state=present&height=600&width=600
I'll close with this video, which was from Carlin's last HBO performance. It is simply brilliant. For those who don't know any better, the language is pretty blue in some places, but this 10 minute clip is a fantastic example of Carlin's genius as a writer, performer, and comedian.
Posted: 01:51 下午 | Comments (View) | Permalink
六月 19, 2008 - 09:37 下午SeasickMy favorite part of the day is reading to my beloved children at night. (Indeed, I have had such vast experience reading these books, I keep toying with the idea of doing an excursus for my readers on Curious George; one day, perhaps; and I'm serious about this.) Many of their books tend to be science-oriented, even though my kids are pretty young.
Tonight I was reading a book about genetics; I get a little sheepish when it gets to the sperm and egg part, but I did read the bit about how all human embryos start off as female but, after a few days, about half of them become male. A portion of the dialog with my son (who, by the way, is gorgeous, thanks to his mother's genes, not mine) went like this:
Son: "So everyone on earth would be a girl if that didn't happen?"
Dad: "That's right"
Son: "Oh, that's good. Otherwise it would be pretty unpleasant."
Oh, he's a wise one.
The big news in the market today was that crude oil took a wallop. But don't be confused. The past ten sessions have been nothing more than a trading range between about $131 and $139. The market doesn't know what to do with itself. If it pushes above $139, you're going to see an explosion to the upside. And if it breaks below $131, I think we'll easily move to $123. The longer this range persists, the more substantial the eventual break will be, regardless of direction.
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The sucky part for me was that almost all the profits tacked onto my portfolio yesterday was eliminated today. I don't mind if I suffer a "wash" if the Dow is down 130 points one day and up 130 points the next. But if the market is down 130 points and then up merely 30, and I still am no better off, that worries me. Why shouldn't a 130 point tailwind help me more than a 30 point headwind?
Even more troubling to me is the graph below. Friday is quadruple witching, and the bullish engulfing pattern expressed by the NASDAQ could make for a bullish day. The market really needs to take it on the chin for me to have a good Friday. Otherwise, I think it's going to be in the hands of Beanie & Friends.
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http://slopeofhope.com/ImageProxy?imageid=1184&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1184&state=present&height=600&width=600
The Russell 2000, on which I own puts, has been stuck in its own trading range for many weeks now. This isn't at all a clean pattern. A break below 717.50 would be terrific, but I'm not holding my breath.
The Russell 2000, on which I own puts, has been stuck in its own trading range for many weeks now. This isn't at all a clean pattern. A break below 717.50 would be terrific, but I'm not holding my breath.
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http://slopeofhope.com/ImageProxy?imageid=1185&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1185&state=present&height=600&width=600
My bearish bets on crude oil may pan out after all, though. The MACD and Slow Stochastic both turned south recently.
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http://slopeofhope.com/ImageProxy?imageid=1186&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1186&state=present&height=600&width=600
And OIH, which came within two pennies (!) of my stop price earlier in the day, sported a nice bearish engulfing pattern. But let's keep in mind the range I was talking about. Unless crude slips beneath $131, we'll just continue farting around. And a push higher by crude could supercharge OIH above the $220 level.
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http://slopeofhope.com/ImageProxy?imageid=1187&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1187&state=present&height=600&width=600
GNK has, for three days now, been tickling its resistance line. Let's hope it stays beneath.
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http://slopeofhope.com/ImageProxy?imageid=1188&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1188&state=present&height=600&width=600
A number of red-hot stocks, like MOS, POT, and CNQ (below) had some pretty big dollar drops today. The next few days could be interesting for these issues.
A number of red-hot stocks, like MOS, POT, and CNQ (below) had some pretty big dollar drops today. The next few days could be interesting for these issues.
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http://slopeofhope.com/ImageProxy?imageid=1189&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1189&state=present&height=600&width=600
I bought MDR puts today based on what appears to be a failed bullish breakout.
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http://slopeofhope.com/ImageProxy?imageid=1190&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1190&state=present&height=600&width=600
I also acquired, early in the day, puts on PXD.
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http://slopeofhope.com/ImageProxy?imageid=1191&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1191&state=present&height=600&width=600
I'll probably have more to say tomorrow (although if the market roars higher, I'll probably be too bummed to say much). I'm off to bed now. And I leave with you this - - a local story from Maryland, the state I am currently visiting. This has to be one of the best headlines. Ever.
Posted: 09:37 下午 | Comments (View) | Permalink
六月 17, 2008 - 03:16 下午Flat & HappyIt seems odd to be satisfied with a minuscule gain for the day, but considering how badly I was down earlier ("thanks" to my energy-oriented shorts), I'll happily take it. With the Dow down over 100 points, there was enough green among my positions to make up for all the red from my stinkin' energy shorts. You take what you can get.
The list of stocks-that-never-seem-to-go-down is dazzling - they include AGU, ANR, CF, CMP, CRK, GDP, HK, HP, MEE, MOS, PCX, POT, PXD, and SQM. I just don't have the stomach for momentum-based trading.
The China index sported a beautiful shooting star pattern after perfectly touching the neckline of a head and shoulders pattern (tinted below in green). I like it.
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http://slopeofhope.com/ImageProxy?imageid=1146&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1146&state=present&height=600&width=600
The honeymoon with LEH and GS lasted just a few hours. It seems that investment banks, having delivered news-that-isn't-too-awful, are back on a downward track.
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http://slopeofhope.com/ImageProxy?imageid=1147&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1147&state=present&height=600&width=600
For four days in a row, the Transports have been unable to get above Fibonacci resistance.
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http://slopeofhope.com/ImageProxy?imageid=1148&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1148&state=present&height=600&width=600
And the $NDX, on which I bought puts today, seems to be turning around smartly. I've got a stop at 2,000 on this one.
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http://slopeofhope.com/ImageProxy?imageid=1149&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1149&state=present&height=600&width=600
As I've mentioned, I've been more than a little frustrated with energy issues. In spite of relative softness in crude, the OIH had a very strong day. I'm starting to trim energy positions out of disgust.
As I've mentioned, I've been more than a little frustrated with energy issues. In spite of relative softness in crude, the OIH had a very strong day. I'm starting to trim energy positions out of disgust.
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http://slopeofhope.com/ImageProxy?imageid=1150&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1150&state=present&height=600&width=600
Someone mentioned I don't use moving averages; that's not true. I use them occasionally, such as the graph below. Look how nicely the S&P is staying beneath its 100 day moving average; notice also how sharply it turned around after piercing the 200 day moving average (but not closing above it) in mid-May.
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http://slopeofhope.com/ImageProxy?imageid=1151&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1151&state=present&height=600&width=600
I bought some SRS for the first time a couple of days ago.
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http://slopeofhope.com/ImageProxy?imageid=1152&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1152&state=present&height=600&width=600
Ah, yes, AGU, one of the aforementioned insane stocks. I own puts on this (unfortunately). This is one of those "ah, what the hell" trades, but I'm not optimistic. Buying puts on hyperbolic stocks is, errr, unwise.
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http://slopeofhope.com/ImageProxy?imageid=1153&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1153&state=present&height=600&width=600
Many issues I have are near the top end of a descending wedge. DECK is a nice example.
Many issues I have are near the top end of a descending wedge. DECK is a nice example.
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http://slopeofhope.com/ImageProxy?imageid=1154&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1154&state=present&height=600&width=600
DRYS touched its Fibonacci resistance perfectly today before softening up. I bought puts.
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http://slopeofhope.com/ImageProxy?imageid=1155&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1155&state=present&height=600&width=600
The same can be said with GNK, which is an even more alluring pattern.
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http://slopeofhope.com/ImageProxy?imageid=1156&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1156&state=present&height=600&width=600
IBM is safely below its broken trendline, and I bought puts today, with a stop at $130.
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http://slopeofhope.com/ImageProxy?imageid=1157&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1157&state=present&height=600&width=600
Lastly, VMI is at the top of a broadening formation. Obviously there's a lot more potential downside here than upside.
Lastly, VMI is at the top of a broadening formation. Obviously there's a lot more potential downside here than upside.
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http://slopeofhope.com/ImageProxy?imageid=1158&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=1158&state=present&height=600&width=600
Please note - once again! - that I am traveling for the next week (Wednesday through Tuesday), so my posts will be perhaps only once per day, and definitely late in the day. So you'll have to talk amongst yourselves. Good luck, to one and all.
Posted: 03:16 下午 | Comments (View) | Permalink
六月 09, 2008 - 05:42 上午OIH and ElliottI'm still tiptoeing my way into Elliott Wave. Any opinions, good or bad, on this labeling of OIH?
http://slopeofhope.com/ImageProxy?imageid=1060
Update: one thoughtful reader sent in what is probably a better interpretation; but, hey, I was pretty close!
http://slopeofhope.com/ImageProxy?imageid=1061
Posted: 05:42 上午 | Comments (View) | Permalink
六月 06, 2008 - 11:57 上午Crude is Rude!It is remarkable to me that on a day that crude oil is limit-up and blasting to never before seen heights......
http://slopeofhope.com/ImageProxy?imageid=1044
that we have an OIH that looks like this..........
http://slopeofhope.com/ImageProxy?imageid=1045
and a FSLR that looks like this!
http://slopeofhope.com/ImageProxy?imageid=1046
Look at the AMAZING perfect touch to the trendline by today's shooting star. WOW!
My beloved son is having an end-of-year pool party which I'll be attending (along with my beloved daughter, whom I'll make sure is safe in the pool), so I'm going to be radio silent for a while. I'll do a post tonight, though. I imagine I'll be in the mood to talk about the markets, assuming our corrupt, stinking government doesn't interfere in the final hour of today's action.
Posted: 11:57 上午 | Comments (View) | Permalink
六月 03, 2008 - 02:55 下午Touch of GreyTwo days in a row with the Dow down triple digits. I like it.
I like even more the fact that we are getting away from the idea that a reduction in crude oil prices is all the economy needs to thrive again. A drop in oil and equities on the same day is just what the doctor ordered. Although the bullish uptrend in crude oil is not broken, it has been a while
The equity markets pushed beneath May's lows today in many cases, and we seem to be on the "right side" of the Fibonacci retracement line.
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http://slopeofhope.com/ImageProxy?imageid=980&state=original&height=600&width=600
http://slopeofhope.com/ImageProxy?imageid=980&state=present&height=600&width=600
The Transports, too - - worrisome of late - - could be in the process of turning the tide. That lifetime high we saw in May could be the high water mark for quite some time. A fall beneath 5,150 would cement that.
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http://slopeofhope.com/ImageProxy?imageid=981&state=original&height=600&width=600
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The the NASDAQ, a favorite of mine to watch these days would make its bearish case clear again if it fell beneath 2,450 Friday's unemployment report may be the catalyst to really take the market down, since there's no real economic news on the scene until then.
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Looking closer at the $NDX, we got tantalizingly close to breaking the channel, but instead it touched it perfectly. Maybe next time, eh?
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If oil really tumbles, how far could OIH go? Judging from this graph, I'd say the low 180s.
If oil really tumbles, how far could OIH go? Judging from this graph, I'd say the low 180s.
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Russell 2000 - formerly my favorite - remains stubbornly above its retracement line. We have another 20 points to fall before we're in the clear.
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I do, however, have puts on the S&P 500, which is weaker.
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In my IRA account, I can only buy positions, so I am forced to go long either equities or inverse funds. I've got a mix of both. A few favorites right now include CPI Corp....
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......Firstfed (much riskier).......
.......the QQQ double inverse fund........
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.......and Toll Brothers (although I'll be a lot more enthusiastic if it breaks above $26).
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On the short side, CEPH's pattern is terrific, provided it doesn't cross above the line you see here.
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First Solar closed at its trendline both yesterday and today. I am optimistic this is going to take out the $250 level, which is critical to its plunge.
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I have good hopes for ISRG as well. Its formerly bullish pattern is ancient history now.
I have good hopes for ISRG as well. Its formerly bullish pattern is ancient history now.
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If the Transports roll over, there are some stocks which enjoyed the sensational rise in 2008 which will fall just as fast. Ryder, a major component, is one of them.
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I also shorted GD today based on its failure to fulfill its bullish breakout.
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Genzyme, profitable but a source of frustration, is finally inching down beneath its neckline.
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I have puts in both GOOG and BIDU. Today was better for the former.