Thursday, May 21, 2009
Tuesday, May 19, 2009
Was the leading in money outflows in WSJ selling on strength today. Strong MACD neg divergence and very big selling volume at close. Keep in mind that like most of the posts, this is a short term potential play.
Tuesday, May 12, 2009
The fast line printed a red line today. This indicator tends to lag at least a few days but is fairly reliable of marking an intermediate trend. What it doesn't do too well is give one an idea of how long or fast a trend will go so it is something I use just as reference.
When the lines cross, that produces the second level of confirmation.
That having been said, I did close out my RIMM puts and sell my TWM on the large move today. Will look to reload at a better price but does appear a correction of at least a few weeks is on its way.
Financials and energy also look to be correcting/ consolidating for the intermediate term soon.
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...
I am liking the set up for XLE a lot now and XBI I am hoping for some settling so I can board the train. Maybe within 1-2 weeks? Missed ...
Didn't make any changes Fri except close the GLD short as the miners + silver started showing strength and an oversold signal on the 2 h...