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Thursday, August 24, 2006

A Watched Pot (Again)...

Oh my LORD the stock market is boring lately. Sheesh! I've elected to put up a YouTube movie of paint drying (with grass growing in the foreground) since it's more enticing.

So I'm just going to toss out some more interesting short ideas. The first of which, BBBY, I offered a few days ago, and it's started to leg dow nicely.


CAT (getting near the end, or a trendline break instead?)


CERN


MRO


MCK


MSTR

at 8/24/2006 35 insightful comments   Links to this post

Wednesday, August 23, 2006

Are We Finally Turning Around?

Below is the intraday S&P 500. Does this look like a top to you? At least for the short term? I think so. I sure hope so. An honest to goodness down day was a pleasant change.


The $VIX has been ungodly low lately, and that also seems to be turning around. It sure makes put options cheap at these levels.


The Dow lost a little more than 40 points today. Looks like it's backing away from that ascending trendline.


The NASDAQ 100 bounced away from its own trendline beautifully......


On a daily basis, the S&P 500 has been quite strong medium-term, but so long as that trendline holds, we've still got a bearish disposition on this one. As always, click on the image to see a much bigger one. This chart is loaded with embellishments, which I hope make sense to the most of you.


Gold hit a medium-term high today before turning around into a loss. This could turn out to be a beautiful short, but it's going to take a couple of months to see. It's been unpleasantly strong until today.


The $XMI has either hit resistance for the third time or is about to produce a marvelous breakout (for the bulls......) This could be a great cup with handle pattern, or we could simply be bouncing off that resistance line again.


Here are positions from two of my accounts (I've got others, but I couldn't fit all the symbols on the screen.......) This time I'm using symbols to make it easy on you.

at 8/23/2006 76 insightful comments   Links to this post

Your Morning Inspiration

Tough markets call for tough inspiration. Start your day right with two of my favorite clips of all time. The Alec Baldwin speech from Glengarry Glen Ross and R. Lee Ermey's brilliant scene in Full Metal Jacket. Enjoy!

at 8/23/2006 48 insightful comments   Links to this post

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