Best Trading Day of the Year for Me

I hope you guys were reading the posts I made throughout the day today. They were ALL on point.

Picking up short positions going into tomorrow!

FAZ SDS I am picking up here the last 45 min. of the day.

Best Day trading day of the year!

I called the bottom on the SPY in my last post and said I would day trade the market to the upside for the remainder of the day. We reversed 90 points on the DOW since. I'm done for the day guys/gals. Good Luck All!

The bear claws in the MONEY!

Strong break down in the markets today. My downside targets were all hit at the open. $108.94 could very well be the lows of the day. I will day trade to the upside for the remainder of the day. Good luck all!

Another Ambiguous Close

Good day today. The markets did what I said, Neutral to up with a non-triple digit move. With that said I am Neutral to Bearish going into tomorrow. Neutral because we have another triangle forming on the SPY. Slightly bearish because SPY couldn't close above $111.20.

If we gap down, I expect $109.85 to get hit. Possibly as low as $109.70.

If we gap up, look for $111.20 and then $111.50

Oil continues to boggle my MIND! A rise in crude inventory and a rise in the dollar won't keep oil down!!

SPY 10-min. triangle:

Ambiguous close

This down day was expected on wall st. today. However, the volume was still still light and the sell off wasn't as strong as I had hoped. I'm going into tomorrow NEUTRAL, I don't expect any triple digit moves (only 60% certain of that).

The last 30 min. of trading led to a sell-off that I didn't like. If we had just traded sideways to up during the last half hour, we would have bear patterns in tact for a gap lower. But that isn't what we got, instead the bear pattern played to the downside the last 30 min. usually meaning a neutral to up day tomorrow.

I do think commodities will be the laggards tomorrow. Some bearish charts are posted below:

VXX-bull flag (VXX up=markets down)


USO-bear flag

UNG $8.85

I'm accumulating A LOT of shares of UNG here at $8.85, however, it could go to $8.50 to form a double bottom and then rocket ship to the moon.

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Light Volume is coming--be careful bears

Volume has dropped of dramatically. This is a 10-min. chart of the XLF, we have a bear flag in play but will light volume allow us to play it to the downside? $14.55 is the line in the sand. If we break above it on the 10-min. the bear flag is negated. I have a stop at $14.62.

SPY will die tomorrow

Broken 10-min. triangle to the downside.

Last week=worst week for this blogspot

Ever since I started this blog my calls have been right at least 85% of the time. This past week really sucked the markets are manipulated at this point due to the light volume. A while back I said I would short the QQQQ until $42.00 it went to $42.12 and since then, we've had a sharp rally. I thought the QQQQ was going to stop at $44.00 but here we are at $44.83

The markets have been blasting through trendlines and moving averages as if they weren't even there. But we do have a market leader who looks like it wants to die...GS

Bear Flag: target- $136 (a close above $160 would negate the pattern)

This week sucked

Next week, I think, will be the TRUE nature of these markets. Light volume plagued the bears this past week. On top of that, it was options expiration.

USO 30-min

USO is trading in a rising wedge pattern=bearish

Fed raises rates to 0.75%

To everyone's surprise, Thursday after hours the Fed raised rates to 0.75%! This is extremely bullish for the Dollar and extremely bearish for the market and commodities. As you all know I am short oil and gold.

I was so frustrated with today's market going up($110.50 was my target from last week), and I did mention in my last post that Thursday will be the "top" of this oversold rally...sure enough (like magic) there is a catalyst to my suspicions. Markets are going to get hammered!!!!!

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Since last Friday, for SOME reason I KNEW the interest rates were going to go up this week by watching the action of the USD, I should have made a post! Darn it, I'm so mad I didn't make one. It would've been an AMAZING call. I'll have to go back and read last week's journal to see what signaled the interest rate hike. I'll post when i find out. Stick with me guys! CHEERS!!!!! :)

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Boring Markets

Volume is INSANELY LIGHT! I hate days like these. Bearish patterns RARELY play out on days like these. I'm getting SMACKED with my oil shorts.

Today is the "TOP" for this oversold rally?

$110.50 target has been reached on the SPY. I doubled down on oil shorts and I'm holding Gold shorts. To my surprise, commodities have been relatively strong with a stronger dollar.

*and i will say that today will be the high of the oversold rally. if it isn't, look for $111.70 on the SPY

SPY $110

I didn't think the markets were strong enough to reach $110, but it's starting to look like we will be going there. I hold an upside bias until then. and as i've said before...i'm doubling down on my shorts when we get there..$110.50 to be exact

Big down day for me.

I hope I don't get stopped out. I am still holding shorts.

Courtesy of http://spwavetrade.blogspot.com:


Trading with 21 and 34-EMA lines has been a sure winner in the past! Check the results.

Don't be a fool...

The markets opened sharply lower today, but has managed to drift higher...hold your shorts. if you are short oil with me, a break of $35.60 will yield a drop to $34.70.

The downside is still in favor.
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-I picked up DZZ yesterday as GLD approached the $107.80 level ($107.56 was the high)
-Re-check the blog often, I will have charts up this weekend.
-Happy New Years!

The USD continues to rule the markets

-I am short oil
-QQQQ is coming into heavy resistance @ $44.00
-GLD is coming into heavy resistance @ $107.80 (DZZ is my next play)

I'm looking to pick up some shorts tomorrow

I'm looking to accumulate some shorts. Particularly in oil...

Markets are very weak. I don't think the SPY can even manage to move up into $110 anymore...but if it does, I'll be "doubling down" on my shorts.

A big drop is COMING!

The markets staged a nice bounce today on the back of a weak USD.

Watch SPY $110 and QQQQ $44. I'm sitting on my hands right now, but I will look to go long TYP and SCO when the 2 mentioned levels are hit.

Out with a cold!

I haven't been posting or paying any attention to the markets much. I'd be expecting a bounce. If it doesn't come go long off of friday's double-bottom support. Look for a bounce to possibly SPY $110. good luck all.

$$$$$$$

I nailed the QQQQ call in my last post. Up 8% on the trade. My target remains the same.

Please check out the calls I made on GOLD AND OIL here:

http://yourfinancialblogger.blogspot.com/2010/01/follow-me-on-twitter.html

Gold will become the best investment ever soon...this is your chance to make thousands, if not, hundreds of thousands.

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A bounce but markets remain weak.

When QQQQ gets to $43.55 I'm picking up some TYP and then doubling down on TYP if the QQQQ goes to $43.80. My target on the QQQQ, right now, appears to be $41.55.