Roller Coaster Market

Seriously? all the way to 152.87 just to turn around and head down? Seriously?

First of all let me thank all the subscribers that tipped me after the last trade, it warms my heart to know my efforts are appreciated. If you forgot to tip me this time, no matter, do it on the next trades, it helps me keep this site free of advertisements and will give you good Karma

Too many things are possible at the moment, a double top, an inverse head&shoulders, a minor correction, or a crash. Let’s remember the sequestration issue that was not handled, and no matter how much the market ignores it, sooner or later it will hit.

If you are following my twits you know that the system signaled a short opportunity on the spy this afternoon at an hourly close below 151.46. Unless there are surprises tonight, like a midnight deal, I fully expect it to be triggered tomorrow.

Battle Plan 2/28/2013

2013-02-28-TOS_CHARTS

Will have to see how strong is the pull back, but in principal I am going to go short under 151.46 or long if we go back up over the H&S neckline. Will keep updating on twitter.

I would love to hear what you think about where the market is headed, you can comment either on Facebook or on this post.

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Going Up?

tipme2What a strong rally this was today, the bulls came out to play and the bears hid under their beds. Got stopped of course in the process, but no matter it was a very very profitable trade, if you liked the trade and feel I helped you make some money please tip me.

During the day the long option I mentioned yesterday  materialized, and as I twitted the signal entry was at 151.29 on spy. However I was so caught up in the short point of view that I decided not to go long, but wait for a pullback first to see how strong this rally was. In retrospect this may have been a mistake, but only time will tell. Part of the reason I write this Blog is to be able to look back and analyze my trades in order to improve. As they say it is no problem to have a 20/20 hindsight, the trick is to have a foresight.

Battle Plan 2/27/2013

I think the pullback started in the last half hour of the day and the correction should go at least to 151 on spy. I will decide if to go long according to the strength and pattern of the correction.

I would love to hear what you think about where the market is headed, you can comment either on Facebook or on this post.

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It’s not over yet ? !

The market made a lower low today and as I twitted, I took some more profit when it started to correct. Now I am not sure if the small bounce this morning was the dead cat bounce I mentioned yesterday or is it the bounce at the end of the day? in other words I am not sure if this leg down is over already or not. The positive divergences are starting to compile but if I read the charts right we should have a move lower tomorrow morning, but I am not sure whether it will make a new low or not.

Battle Plan 2/26/2013

2013-02-26-TOS_CHARTS Since I already took profit twice I am going to bet on a lower low ahead and keep my stop at 151.29, and I will update it according to developments during trading hours (will update on twitter of course). Otherwise I think I am going to let it run it’s course. Keep in mind that there probably is a long opportunity around the corner, either tomorrow or the day after.

I would love to hear what you think about where the market is headed, you can comment either on Facebook or on this post.

If you want to stay updated in real time follow me on Twitter

If you want to comment or post your own signals join me on Facebook 

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