A market within a trading range with high volatility offers little in the way predictability other than playing the extreme moves of the range. This past week saw a penetration of the August lows on an intraday basis. For now, the SPX is back in the range of 1120-1220 or so.Unless you’re skilled, quick and…
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There was an interesting piece sent around Thursday about Monday’s close on the SPX. Strikingly, the index closed that day at exactly the same level to the penny as the same date in 2008. The article link is below. Coincidence or not? What is interesting is back in 2008 the market was in the midst…
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There was another strong rally Thursday, the third one this week after probing the lows for the year just two sessions ago. No doubt the bull horns are sharp when backed into a corner or even teased. From an hour before the close Tuesday until today’s finish the SPX has moved an amazing 90 points. …
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Friday is the release of the September jobs report and it probably will not look pretty. After August’s ‘nothing’ month we could see a contraction – that would not surprise. The market for jobs is difficult if not damned near impossible. I don’t know how the President’s Job Bill will work out but I can…
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…but there is only ONE reason to buy. As investors/traders we don’t need to know the reasons for selling nor do we care. As the title says there are too many to count. Just acknowledge and embrace it. Europe? China? Slowdown? Politics? News? (click here) No matter. Therefore, our job is to best identify when…
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Last week we put together a strong win with a 2-3 day trade in the triple bear financial ETF, the FAZ. This has been a great month trading options on this volatile stock. This thing really ramps up and when it gets going – the power in the move is breathtaking. The best gains in…
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We have mostly decided to wait things out and only play momentum ideas where we see opportunity. I wanted to touch base and let you know why we are taking this stance. Keeping the powder dry and waiting for a better trending market is often the best choice. Nobody wants to get in and trade…
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My friend Alan Farley one slick market player. He is an outstanding writer and keen investor – recognizing changes in sentiment and their importance. His technical books are must reading for a well-rounded education and can be found on the Hard Right Edge (click here). Alan recently penned what I imagine was a difficult piece.…
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The title of today’s piece pretty much sums up what we’ve seen this year. What normally is seen – accumulation, volume trends and patterns – is unmistakably missing. From the violent revolutions in the Middle East to the tsunami in Japan, the European Crisis to the US debt ceiling mess – we have had our…
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While the market melts down we have been busy racking up the wins in the triple financial bear, otherwise known as the FAZ. We’ve hit this for BIG 300%+ wins a couple of times this month on this vehicle while the banks crater. I like the action on this issue as it ramps hard and…
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