Getting out of the Woods

Good afternoon ladies and gentlemen, we finally made it out of the bubble we had posted on here.  We have been picking up profits everyday.  Currently we are in a tricky spot as you see we have some consolidation on the top of the previous bar.  Currently this can still go any way.

Today we saw that the bulls are really pushing the limits even on light volume.  Media continues to support the buying of Gold and we are seeing Gold rebound.  This week we got a couple of fundamentals coming out that can drive the market either way.  I suggest you continue to be quick and lock in your profits based on your tolerance.

We are looking somewhat good.  However we are still not out of the woods. Our out of the woods target is around 1300s on the SP500.

Keep cool and Trade Smart!




Note: further stock setups will be called out on the blog with weekly ideas.  Get them while they are free! 

sp-500

Its 1:40 pm EST.
I guess we really called the trading range on the SP-500 it seems to be firming up but we need to burst out of that bubble that we just drew.  But the Market is trying really hard to confirm that bottom. I have been locking in some good gains based on pattern recognition.


Bernanke did exactly what media either predicted or fed him, which is to affirm that the Gov't will be there to help if need be. That buy by Warren Buffet created a good run and rally and currently we are attempting to make a run to those highs.  Based on his buy on B of A, he is betting for America (no pun intended).


Be carefull as we are still not out of the woods.

Be cool and Trade Smart!

S & P 500

Good evening everyone. Markets looked pretty firm today and we had a rally.  People really brought in the money and we had a EOD small run.

But lets not get ahead of ourselves yet.  We still need some confirmation in order to call this a re-test, or bottom or reversal.  Today we saw people come in with some money however this could be due to what Bernanke's might bring to the table on Friday.

What you want to see is the market cross fully over some of its resistance and break out of the channel it wants to build.  Currently we are putting some pressure on the bears, however what ever Bernanke brings to the table will either make or break the market.

I advice to continue keeping light until we see further confirmation of the market turning. However there some good setups, however some of the stuff is coming overbought.

Keep cool and Trade-Smart.

by Elektrode!

Technology Bear Stock

Currently we are seeing ugly markets all around. Currently the slow growth around the world is affecting the markets and all the problems in euro zone is holding the market to reverse.  The market should tells a little more these following two weeks if a bottom would be confirmed or it will reflect a breakdown which in this case you should have some stocks that you would like to short.

$TYP has been very good to many including myself.  I started $TYP at $19 and it is up $10 dollars. However i don't hold these longs due to the market volatility.  Best advice stay in cash and trade small. But the technology sector is being hit pretty hard so naturally sending this bear stock up higher ... but currently we need to see a breakout to actually get in to this stock.  Be aware that it has a resistence around $29.77.

If the breakout is confirmed then its buy time.  The trend seems pretty nice as the market is crazy.

Also be aware that we have a hanging man and this could indicate a reversal on this stock.  However higher volatility can create a break out for this stock.  Keep watch.

TradeSmart