I smell blood on the street today. Seeing huge spikes in Volatility and breadth is flashing PANIC. Safest way is to get long the S&P 500 but hedge away exposure to financial sector either via SKF long FAZ long. Lots of opportunities out there due to price dislocations. Arbitrage activity hammering financial names like Bank [...]
Long-term study of S&P 500 cash index shows 18m RSI below30 for first time since 2003 bottom. Modify long basket: re-weight sectors based on model runs on Sunday!!! ERX, CRM, CAT & CME, ICE - swing pivot UYG- Friday 8 count. Volume rising. Looking for climax low… URE- 2nd volume spike around major low. Final bottom [...]
Brief note…more to come later… Asset managers getting hammered pre-market because of State Street numbers, and disclosure of at least $10B in losses for next quarter. Why they didn’t just include it in this quarter, even though their stock is taking the hit because of the disclosure, defies logic. What’s going on? Could this get [...]
An incredible and unexpected event just took place in my life, and the things happening around me are just too beautiful to not document. Sharing my daily trading journal is different when the readers are anonymous, as is the writer. But add the “radio” into this equation (you know who you are), then it’s not so anonymous [...]
USO- Bulllish set up. Start buying big. GSG- Set up for long commodity macro play SKF- Def. going to at least 150. CMO/CMF confirming breakout. SPY – going to $80 perhaps. MON- Gap closed! CMF/CMO bullish divergence. CAT- gap closed, vol. spike t/l = $36.75 ACI- $14.15 BTU- $19 PCLN- at critical t/l with multiple [...]
JPM, BAC broke on huge volume and are headed for their lows. GS looks like it’s in trouble here. CLosed below all of its MA’s and ON near term trendline. High volume on Mon’s sell-off. Relative to these charts, SKF has the potential to run about $100. JPM actually could make a new low based [...]
WED: Market on the verge of confirming multi-month bottoms in “Obama” related sectors (i.e. infrastructure, solar, coal, tech). Market was giving clear signals that a trap was being set yesterday, and today’s massive gap to the downside was the final leg. Those trapped bulls are now panicking out, which sent the NYSE TRIN over 2 [...]
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