Search This Blog

Tuesday, May 25, 2010

Time for minor 2

I sold all my short etfs today and bot some longs starting yesterday and bot some more today. Here is the count i like the best. This implies we could get a bounce to 1130 or so and take a week or a little more. The MACD shows a positive divergence for 5 that ended today. Also on option exp we had a major accumulation day, i wont get to excited about shorting until we get another major distribution day. heres the linkone of my favorite indicators[s128363142]&disp=P

Monday, May 10, 2010

A gift?

Is this morning gap up a gift to enter into new short positions? The 13/34 daily ema's crossed down and gave a sell signal. Usually if you go back and look when they cross their is a bounce back which gives you a chance to enter. You can check it out on one of Mike Breaux's blogs I will start reetering some shorts midmorning today and see what happens. Probably will start with some SRS TZA FAZ VXX and EDZ i'll also put stop losses on just in case the bulls take back control. Also remember to not get into to big of a hurry the bulls have the ball and may run a little more.

Thursday, May 6, 2010

Time to lighten up shorts

We are in a nice channel down and are hitting the lower end of it in the 5th of this 3. I'm selling half of shorts here and expecting a bounce soon. Should be a couple days of sideways and then one more down. 13/34 ema's daily havent crossed yet but we should get another chance to jump in short when it does.

Sunday, May 2, 2010

Finally a top?

We've had two 90% down days in the last week thanks to Cobra heres a chart link.[s128363142]&disp=P Which is a good omen for the bears. The RUT made a lower low which is also a good sign for the bears. On SPX you can see a big H@S formation with the neckline at 1180. I'll be watching the 13 34 ema's to confirm the downtrend.
Also looks like a could be a 1-2 1-2 down channel we shall see.