Tuesday, August 31, 2010
Saturday, August 28, 2010
Friday's Rally
Well, the bulls got a much needed bounce Friday. I needed it. I'm expecting a little bounce here from the markets. S&P 1090 is what I'm looking at. At that level my longs will be sold. I'm wondering if Sept. won't give us a little head fake higher here before resuming downward. I think a reasonable downside target if support is taken out would be S&P 940-960 area.
Precious metals and miners are the leaders. All traders should know that. Keep your eye on GLD, GDX, FCX, FXI, and SLV for general market clues and direction.
It is a tough market right now.
Precious metals and miners are the leaders. All traders should know that. Keep your eye on GLD, GDX, FCX, FXI, and SLV for general market clues and direction.
It is a tough market right now.
Monday, August 23, 2010
M&A activity
The market is in dire need of a news catalyst to take it sharply higher (bottom). M&A is bringing in some buyers but it just doesn't seem to be enough quite yet. Keeping stops tight here and getting stops hit....I think we move one way by Thurs-Fri and will know the direction then. Until then, I offer you YHOO:
The chart looks fairly similar to MFE before they were bought out last week. Who knows, it could happen. After all, YHOO rejected 2008s bid from MSFT. Icahn and company have been trying to stir things up and the CEO/founder even stepped down. Clearly, YHOO is not pricing in any upside move...and neither did MFE.
$18 and $14.80 are obvious upside gaps in YHOO. What would be a fair price? I think some calls of the October-January variety might be prudent speculative plays here. Who knows, maybe you will become a millionaire overnight on this spec play, just like George Soros became a billionaire overnight in 1992 by betting against the UK pound.
The chart looks fairly similar to MFE before they were bought out last week. Who knows, it could happen. After all, YHOO rejected 2008s bid from MSFT. Icahn and company have been trying to stir things up and the CEO/founder even stepped down. Clearly, YHOO is not pricing in any upside move...and neither did MFE.
$18 and $14.80 are obvious upside gaps in YHOO. What would be a fair price? I think some calls of the October-January variety might be prudent speculative plays here. Who knows, maybe you will become a millionaire overnight on this spec play, just like George Soros became a billionaire overnight in 1992 by betting against the UK pound.
Thursday, August 19, 2010
Volatility
107.60 SPY needs to hold on a close.
Else, 105-106 area is coming.
OPEX tomorrow so we could be just experiencing some near term volatility.
Keep those stops in place.
Else, 105-106 area is coming.
OPEX tomorrow so we could be just experiencing some near term volatility.
Keep those stops in place.
Monday, August 9, 2010
POLL: What is the easiest stock to trade?
Some traders use the same basket of stocks while others are open to anything.
I'd like to know (those of you who actually visit this blog) in your opinion, which stock is the
easiest to trade? Is there a stock that routinely gives you success? If so, post the stock that you think is the easiest to trade.
I'd like to know (those of you who actually visit this blog) in your opinion, which stock is the
easiest to trade? Is there a stock that routinely gives you success? If so, post the stock that you think is the easiest to trade.
Subscribe to:
Posts (Atom)
