Monday, October 24, 2011
1250
Just infront of 1250 number is a gap @ 1248.75 but if we hit 1248 today I am sure we will tag 1250. watch 1253 after
New Week
What a turbulent week last week. We are still bouncing off that important 1068 number and I am sure the bulls are trying for that 1250 now. Lets not get into a totally bullish mode as we are just in a retracement play in a larger bear market. Can we go higher than 1250 sure! Actually I have some projections all the way up to 1338 but who knows as we are just trading off the European economics problems.
I have a stock play that is going to be a long term play that I will post soon. I am just waiting for the right spot to get in.
Lets see what they want to do this week. Also remember the trend is we reverse the option expiration week move so this week probability is down but I would not bet the farm since we are trading 90% off news.
Tuesday, October 18, 2011
Not Much
Not much to talk about the markets are once again in the negative for the year and it seem we will be around this area for awhile till be get out of earnings season. Rough to trade here as we are in high volatility mode with no real direction.
Today the tech names as PCLN, AMZN, BIDU, and SINA are getting hit. Also didn't help that IBM and BAC earnings weren't that great. We have to watch for volume as it as been very low which should tell you to beware as the big guys are NOT playing here so why should you.
Wednesday, October 12, 2011
Interesting
As most know I am a strong player of trends. Last night was the start of earnings with AA and their earnings disappointed. We are gaping up on the basis that earnings season will be as expected and this is perceived as good. One thing to note eight trading days ago we were trading below 1100 and now we are at 1200 before the open. Lets see how we react for the next two days and see if that run up was a earnings rally and we sell on the news of earnings.
Will see soon enough
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