Current market status: Unhealthy
Today's Signal: Hold
Previous Trade: Buy/Long (11/26)
Commentary
Wacky day. Smells fishy... smells like POMO... Hold tight.
Monday, November 29, 2010
Friday, November 26, 2010
Buy
Current market status: Unhealthy
Today's Signal: Buy/Long
Commentary
While I wasn't paying attention this afternoon, a buy signal reared it's head. I am somewhat skeptical after another large spike in the VIX. That's 4 in the past 10 trading days and could spell trouble. I am bearish for other reasons and doubt I will make any serious bets on the long side this upcoming week.
Today's Signal: Buy/Long
Commentary
While I wasn't paying attention this afternoon, a buy signal reared it's head. I am somewhat skeptical after another large spike in the VIX. That's 4 in the past 10 trading days and could spell trouble. I am bearish for other reasons and doubt I will make any serious bets on the long side this upcoming week.
Wednesday, November 24, 2010
Another Short Signal
Current market status: Unhealthy
Today's Signal: Sell/Short
Commentary
Another short signal was generated today. However, I will wait til Friday to add more shorts. After a huge up day, this rally has to have more steam left in the tank.
Today's Signal: Sell/Short
Commentary
Another short signal was generated today. However, I will wait til Friday to add more shorts. After a huge up day, this rally has to have more steam left in the tank.
Tuesday, November 23, 2010
Hold
Current market status: Unhealthy
Today's Signal: Hold
Previous Trade: Sell/Short (generated 11/18)
Commentary
Not a whole lot to say. Everybody and their sister knows the next 2 trading days are bullish, historically speaking. Looking at late night futures action, I think they're going to be right after all. On the other hand, we had another down thrust according to my system, and this is bearish in an unhealthy market. I think there will be some upside the next few days, but next week could be ugly for bulls. Wed/Fri could offer some excellent opportunities to add shorts. Time will tell.
Today's Signal: Hold
Previous Trade: Sell/Short (generated 11/18)
Commentary
Not a whole lot to say. Everybody and their sister knows the next 2 trading days are bullish, historically speaking. Looking at late night futures action, I think they're going to be right after all. On the other hand, we had another down thrust according to my system, and this is bearish in an unhealthy market. I think there will be some upside the next few days, but next week could be ugly for bulls. Wed/Fri could offer some excellent opportunities to add shorts. Time will tell.
Monday, November 22, 2010
Hold
Current market status: Unhealthy
Today's Signal: Hold
Previous Trade: Sell/Short (generated 11/18)
Commentary
Strong seasonality on tap for this week, but bearish evidence is starting to mount. I think the next drop could be a big one.
Today's Signal: Hold
Previous Trade: Sell/Short (generated 11/18)
Commentary
Strong seasonality on tap for this week, but bearish evidence is starting to mount. I think the next drop could be a big one.
Friday, November 19, 2010
Hold signal today...
Current market status: Unhealthy
Today's Signal: Hold
Previous Trade: Sell/Short (generated 11/18)
Commentary
I attempted to add to my short position at the close but my limit order was just missed by a few pennies. Usually I won't add to my position on a hold signal, but Monday is the day after Opex which has a bearish seasonality. Perhaps there will be a good entry point Monday morning. A gap up to resistance would fit the bill. Have a good weekend!
Today's Signal: Hold
Previous Trade: Sell/Short (generated 11/18)
Commentary
I attempted to add to my short position at the close but my limit order was just missed by a few pennies. Usually I won't add to my position on a hold signal, but Monday is the day after Opex which has a bearish seasonality. Perhaps there will be a good entry point Monday morning. A gap up to resistance would fit the bill. Have a good weekend!
Thursday, November 18, 2010
Sell longs... and short!
Current market status: Unhealthy
Today's Signal: Sell/Short
Commentary
It was hard to go short at the close after such a strong move upward. Then I remembered Rule #20 over at the Kirk Report. I only opened a smallish short position which I will hold until my system says otherwise. Next week is statistically bullish (well, Wed and Fri anyways) so I'm hoping to go long around midweek. We'll see what my model spits out. Good luck all.
Today's Signal: Sell/Short
Commentary
It was hard to go short at the close after such a strong move upward. Then I remembered Rule #20 over at the Kirk Report. I only opened a smallish short position which I will hold until my system says otherwise. Next week is statistically bullish (well, Wed and Fri anyways) so I'm hoping to go long around midweek. We'll see what my model spits out. Good luck all.
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