The Dow is off 125 points, down 1.02%, and the SPX is off 16.53, down 1.27%. The other major indexes are also off similar percentages. Intra day trading we have confirmation Sell signals in the SPX, RUT, XLF and COMP. (I don't use the DOW... it is too narrow)
We are re-entering the QID levered short trade in the Q's. Our new purchase price is 10.94, with a stop at 10.45.
Best To Your Trading!
Bill
Showing posts with label Sell signal Momentum change New Short SPY XLF. Show all posts
Showing posts with label Sell signal Momentum change New Short SPY XLF. Show all posts
Friday, January 28, 2011
Thursday, January 27, 2011
Thursday Morning
Mr Market is trying to work higher this morning, with the Dow at 11012, up 0.23%, and the SPX at 1299.11, up 0.20%. The rest of the major indexes are also higher. Oil is up .18 at 87.15, Gold up 1.10 at 1334.1 and Silver up .49 at 27.61. The rest of the commodity complex is mixed. The Euro is up a few at 1.373 and the Dollar is down at 77.75. The 10 year Note is down .25 at 3.344% and the long Bond is down at 4.61%
The BS, er I mean the BLS report is out this morning, printing at 454,000 new jobless applications, against expectations of 405,000. Non SA prints at 482,399, with 161.913 people dropping off the extended list. The FCIC report on the Financial Crises is due out today, but some of the interesting points are already leaked. The 500 page report discloses, from ZeroHedge.com "that all of Wall Street is one big fat fraud, populated by criminals, who never go to jail, and whose settlement arrangements with the SEC is at most 1/50th of the illegally obtained profits."
New Home Sales spiked 17.5% in December, against expectations of 3.5%. All regions of the country were flat, with the exception of the West, where sales were up 70% at 7,000 units. So, an increase of 4,000 new home sales drove a national increase of 17.5% Don't you just love the guy behind the curtain?
Mr Market is at a very critical point here.. a break of the SPX under 1290 will likely trigger the decline our momentum Change indicators are looking for, while a close above 1303 will likely trigger us getting stopped out of our levered short positions.
Best To Your Trading!
Bill
The BS, er I mean the BLS report is out this morning, printing at 454,000 new jobless applications, against expectations of 405,000. Non SA prints at 482,399, with 161.913 people dropping off the extended list. The FCIC report on the Financial Crises is due out today, but some of the interesting points are already leaked. The 500 page report discloses, from ZeroHedge.com "that all of Wall Street is one big fat fraud, populated by criminals, who never go to jail, and whose settlement arrangements with the SEC is at most 1/50th of the illegally obtained profits."
New Home Sales spiked 17.5% in December, against expectations of 3.5%. All regions of the country were flat, with the exception of the West, where sales were up 70% at 7,000 units. So, an increase of 4,000 new home sales drove a national increase of 17.5% Don't you just love the guy behind the curtain?
Mr Market is at a very critical point here.. a break of the SPX under 1290 will likely trigger the decline our momentum Change indicators are looking for, while a close above 1303 will likely trigger us getting stopped out of our levered short positions.
Best To Your Trading!
Bill
Wednesday, January 19, 2011
Hump Day at 10:00am, Trading Alert
Mr Market is again mixed this morning, with the Dow up and most every other index down. Oil is up on the day at 91.78, but is off the best levels of 92.10. Gold is up 7.79 at 1375.9 and Silver is up .52 at 29.43. The Euro is strong, off its highs of 1.35 at 1.348 and the Dollar continues its relentless decline, trading at 78.44. The 10 year Note is up a little at 3.345% and the Long Bond is up, trading at 4.54%.
This is now the 2nd day in a row that the Dow is up, right now up 20, while every other major index is down. For the 2nd day in a row, the PM's and the entire commodity complex is up, with the exception of coffee. It feels to me that the only engine pulling the market up this long, tiring slope is the Dow.
Our Proprietary Momentum Change indicators are still working with the Buy signal first generated 12/1, but has again moved to Neutral. I am gong to recommend that traders take long positions off the board.....we are selling the SPY and the XLF at the market this morning, with the SPY trading at 129.16 and the XLF trading at 16.45.
However, we will wait for the Momentum Change indicators to generate a Sell signal before we enter Short positions, or short equivalent ETF's
Best to Your Trading!
Bill
This is now the 2nd day in a row that the Dow is up, right now up 20, while every other major index is down. For the 2nd day in a row, the PM's and the entire commodity complex is up, with the exception of coffee. It feels to me that the only engine pulling the market up this long, tiring slope is the Dow.
Our Proprietary Momentum Change indicators are still working with the Buy signal first generated 12/1, but has again moved to Neutral. I am gong to recommend that traders take long positions off the board.....we are selling the SPY and the XLF at the market this morning, with the SPY trading at 129.16 and the XLF trading at 16.45.
However, we will wait for the Momentum Change indicators to generate a Sell signal before we enter Short positions, or short equivalent ETF's
Best to Your Trading!
Bill
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