Steve and I read the $Vix a little differently, I like to see
two days out side the Bollinger Bands and then a pull back inside
to signal a trend change. Yesterday not only did we get that but
the Vix also drew a bearish Railroad Track pattern that gives a
target of $16.85 which is bullish for the broad markets. Also, this
is a three day weekend which is usually bullish too. So, becareful
with shorts and play the long side today, imho.
you are right, that's why I don't trade stocks much, I never
look at the news just the charts, I should stick to etfs. Now if
the DOJ turns the deal down it would be a great short:
The timing of the agreement, which was announced today by North
Carolina-based Martin Marietta, puts the review ahead of
Birmingham-based Vulcan’s May stockholder meeting.
In a statement today, Vulcan said the agreement was only a
“routine” step in the process.
If Martin Marietta can’t get the DOJ to consent to the takeover
in April, the company
has agreed to suspend its bidfor Vulcan until
mid-August, the company said in a statement.
Greece's unemployment rate has
nearly doubledto 20.9% and almost half of Greece's unemployed
citizens (47.5%) are currently listed as "long-term
unemployed."
Well, it looks like we have
finally topped out but until we break some of the longer term trend
lines, I'm not getting too excited yet. Also there was a bit of a
rally going into the close, being Friday maybe it was just short
covering before the weekend.
The Double Penetration on the
Vix that we saw on the 5th and 6th was a great heads up that this
pull back was coming, now today we have penetrated out the top of
the Bollinger Bands but I really like two out and and then to close
back inside as a trigger. So, for now, I expect we open up Monday,
providing Greece calms down, and that then the selling begins
again. So, Monday will be key, be there or be in cash.
I think the energy and pretty much everything else may be
topping out now, I am still holding uso and oil but sold my xle and
dig at the close. Also bought $114 calls on TLT today as it bounced
off it's lower trendline on 60' chart.
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RRT on $Vix
Posted by ditch on 17th of Feb 2012 at 08:30 am
Steve and I read the $Vix a little differently, I like to see two days out side the Bollinger Bands and then a pull back inside to signal a trend change. Yesterday not only did we get that but the Vix also drew a bearish Railroad Track pattern that gives a target of $16.85 which is bullish for the broad markets. Also, this is a three day weekend which is usually bullish too. So, becareful with shorts and play the long side today, imho.
XLU wedge
Posted by ditch on 16th of Feb 2012 at 09:47 am
There is a $1.10 wedge on XLU that may break today. XLU pays 4% dividend too.
you are right, that's why
VMC short
Posted by ditch on 15th of Feb 2012 at 10:49 am
you are right, that's why I don't trade stocks much, I never look at the news just the charts, I should stick to etfs. Now if the DOJ turns the deal down it would be a great short:
The timing of the agreement, which was announced today by North Carolina-based Martin Marietta, puts the review ahead of Birmingham-based Vulcan’s May stockholder meeting.
In a statement today, Vulcan said the agreement was only a “routine” step in the process.
Martin Marietta, a Vulcan competitor, has previously announced plans to elect a new board of directorsthat will support its takeover of Vulcan. For that strategy to work, Martin will need to resolve some legal issues and clear antitrust regulatory hurdles.
If Martin Marietta can’t get the DOJ to consent to the takeover in April, the company has agreed to suspend its bidfor Vulcan until mid-August, the company said in a statement.
VMC short
Posted by ditch on 15th of Feb 2012 at 10:35 am
another stock that looks like a good short here is VMC as it's damn near paroblic the last month + and the set up is good as the stop is obvious.
short CAT
Posted by ditch on 15th of Feb 2012 at 10:25 am
R/R looks pretty good here for shorting CAT, stop $115.
on the 5 min. yes
Oil
Posted by ditch on 13th of Feb 2012 at 03:48 pm
on the 5 min. yes but look at the daily breakout.
Greece
Posted by ditch on 13th of Feb 2012 at 03:46 pm
Greece's unemployment rate has nearly doubledto 20.9% and almost half of Greece's unemployed citizens (47.5%) are currently listed as "long-term unemployed."
There but for the grace of god, go I (us)
double star
Posted by ditch on 13th of Feb 2012 at 03:33 pm
drawing a third star of gapping down tomorrow will draw a very bearish chart. spy
CME says' crude will re-open
Crude oil trades halted at CME
Posted by ditch on 13th of Feb 2012 at 03:01 pm
CME says' crude will re-open at 3:15
CME say's technical problems, that
Crude oil trades halted at CME
Posted by ditch on 13th of Feb 2012 at 02:45 pm
CME say's technical problems, that breakout I posted was a good buy point
Oil
Posted by ditch on 13th of Feb 2012 at 01:40 pm
Oil and USO have broken out of a 60' channel. Look to buy here and add if they pull back and test the breakout line.
http://screencast.com/t/nM0SpRDal
Tick Trend
Posted by ditch on 13th of Feb 2012 at 10:19 am
for those of you who use stockcharts, log this one,
the tick trend just went on a sell signal.
http://stockcharts.com/h-sc/ui?s=$TICK&p=5&yr=0&mn=0&dy=3&id=p79607549069&listNum=1&a=252711464
More charts of interest
Posted by ditch on 12th of Feb 2012 at 11:58 am
Here are my charts that didn't update till after 6 PM Friday.
Full Moon
Posted by ditch on 12th of Feb 2012 at 09:38 am
Charts of interest.
Posted by ditch on 10th of Feb 2012 at 04:45 pm
TLT
Posted by ditch on 10th of Feb 2012 at 02:28 pm
The TLT call options I bought yesterday before the close are now up 41%.
$133.70 support spy
Posted by ditch on 10th of Feb 2012 at 02:23 pm
look at this 15' chart of the spy, if we break under $133.70 it will free fall to $133 before there is any support and that level is weak.
Magu, I think TLT makes
if TLT can't close the week back over 117 with conviction.. I'm ...
Posted by ditch on 10th of Feb 2012 at 09:14 am
Magu, I think TLT makes $119. right now copper & oil & gold down, dollar and bonds up. Look at the channel on TLT that I posted yesterday afternoon
energy stocks & bonds
Posted by ditch on 9th of Feb 2012 at 04:27 pm
I think the energy and pretty much everything else may be topping out now, I am still holding uso and oil but sold my xle and dig at the close. Also bought $114 calls on TLT today as it bounced off it's lower trendline on 60' chart.
http://screencast.com/t/UijzGj5nwY
XLE bo
Posted by ditch on 7th of Feb 2012 at 03:39 pm
XLE near HOD and cleanly breaking out.