Tuesday, December 30, 2008

Tuesday, December 23, 2008

IYR and UWM, relatively healthy...

These two look OK for now but still setting up within a wedge and tapping the lower trendline too much. Eventually it will break as in the other indexes.

Monday, December 15, 2008

Potential big move up SPY

Looks like a very ugly bull flag. I dont like how it fell out of the channel last week but the diminishing volume looks promising.
Does seem like the market is waiting for some kind of news.

If the auto bailout occurs and a solid rate cut, we could see a very large move up in the markets.

But if the big move up doesnt happen within the next couple days, the upward pattern will probably fail.

Mar 17 - Long $QQQ

Got into decent size position of $QQQ 175 calls @ .22 expiring Fri and smaller $amzn and $nflx.  Still in $shak and sold off $rig for only 5...