went long some on friday holding into weekend... just took a look at the daily and weekly chart of the dollar.. looks bullish as heck man... im def. not too please with my positions now

I still have a few longs as well but I hedged and gave myself some time.

 

The crazy up and down is getting on my nerves. It is hard to know if I should be long or short. At this point I think that you have to play the individual names because there are some very bullish charts and some bearish ones. 

I'm still long on a broader scope.  I'm up pretty good and have a price point for evacuation should we reach that level.  Little pullbacks aren't making me worry too much.  I believe the market will continue to push higher through the end of the year.  I'm playing for a pretty broad move but always ready to jump ship.  It makes it a lot easier when you're already up though.  I'm on house money at this point.

 

I said a couple of weeks ago that the market would potentially break to the upside with good news from Europe.  That combined with news from the US would potentially push us to new highs.  I mentioned the current administration being able to manipulate the economic situation for it's benefit.  Well, I think we realize that they can't actually change the data but they do have their pull with the media.  I have noticed several stories throwing sugar on the recent unemployment data already.  I think we all realize, though, that the economy is still nowhere near healthy and we will eventually see a sizable retracement.

 

I have a feeling we will see pretty soft numbers for earnings.  But the market will absorb that and keep pluggin' along.  We will probably see a follow through on the pullback and bounce somewhere around 133 on the SPY.  I've got it drawn that we hit mild support on Friday and may not even break below.  But if we do I think we'll be back on track for gains in the following week.  

 

I'm still in the Middle East and not in a penthouse in Central Park so I realize what I write is probably way out in left field.  haha.

 

GLTA this week.

 

****Go Chael Sonnen****

Considering how overbought we became the jobs report on friday was the perfect excuse for us to sell when we were going to anyway so I totally agree with that wrap up video posted above.  I'm looking for pullback to 1340 and I found this great chart posted from @OptionsHawk this morning

 

Seems very reasonable to retrace down to those levels then from there must see if buyers step up again.

 

 

 

The TLT is a critical point here we're in this nice pennant formation on the weekly and volume is decreasing.  If this triggers and breaks to the upside the odds of bigger pullback go higher.  If it fails, well we know that will help the bull case.

 

 

 

The DXY is now back above the $83 resistance level.  Is this just a flash in the pants one time event? Or can it turn $83 resistance and turn that into support? I think it can.

 

 

 

NYMO pulling in a bit from 100 extreme.  Could it possibly be building complex structure here just leading us to higher prices in the market? Or does it nose dive from here

 

i dunno i think a case for a upturn is more applicable then down.. and for me to say that is like huh.. lol.  .. we tested the 1345 and that is close enough at this point for some sideways fun and consolidation. .

Im still looking over things and have been for 2 days, playing catch up..  I think the hype is a tad overdone at this point.

 

Funds will want to exit, hence creating a rise in the market...  and could be the same pattern as last Aug..

Things did hold their own on friday and on thin volume... next friday it being Friday the 13th and my bday i think hell will freeze over (up) leading into the week of the 16th which is important.

then we can plan for the blood flowing in the streets...

 I have no gut feel either way so for the most part i am in cash waiting to see where we go from here...That TLT chart is very telling to me though.

Yeah, I do have to admit mjoke being bullish short term here is startling lol.  But still, what are you guys thinking about this earnings season? I mean the market as a whole can ride higher with these hope headlines about more QE coming out daily (WSJ EOD on friday).  When HFT does the heavy lifting it's easy to send this higher on rumors then the chasers come in. That doesn't protect individual stock from getting slaughtered though if their earnings don't come in line.  Even if they do, what if these companies guide down?  Multinationals are gonna get hit pretty bad this quarter and one that comes to mind (former favorite long of mine) is IBM which even last quarter showed signs of slowing down.  How is it gonna perform this quarter? Considering how heavily it's weighted in the DJIA could be bad.  Then you have the financials maybe they continue to come in line on big time cost cutting measures but a lot of them won't have great trading profits like they did last quarter. I would have to believe we're going to see further margin compression killing companies this earning season

Last earnings we had lots of beats, but it didn't really help the market because the mood was negative. This quarter sentiment is still down for earnings, but the mood has shifted more bullish toward stocks, so if we meet or beat expectations this time I see it being a catalyst for a continued rally. I'm looking for some big companies to meet/beat expectations, though not sure how it will affect guidance considering the long-term economic view is still down.

earnings will continue to be under constant margin compression which started last report in some aspects. The currency spreads will not help in these matters either. I feel compression will accelerate. Note that they are profitable, just not what the consensus will be or the market wants. Also the tax issue relating to dividend payments is critical more so than the capital gains, and then we have forward looking guidance which has been flying blind mostly.

Good morning all..Should be a fum week

Looks like SPY would go to 133.5 area to fill the gap before attempting a bounce. It's at 135 at the moment. Let's see.

134.85 was Friday low, we bounced off that price exactly at the early SPY low off the open... coming up on it again, if we break that for a 15 min close or a few of those, then the gap fill should come into focus as the next downside objective.

That wedge on the daily is also a neckline rejection of the inverted H&S, if you redrew it after the initial breakout failed. If you're a bull, then holding the daily SMA 50 is a pretty important objective, which would parlay into a possible turning up of that curve, signaling some intermediate term strength/health on the daily. A further trip down into the 132s is a good possibility, but for now I'm favoring another test of 1380 which has been the upper limit of the primary range I expected to see this summer with choppy prices through most of the summer.

Corn futures have gone hockey stick on the daily, just saw a tweet about them being limit up. Midwest crop getting crushed by the heat wave of the last ten days or so.

TLT looks like its breaking out of the range its been stuck in since mid june..

Is it just me or is this volume really low today?

Good monday morning all!

I read this in my investment news:

France sells bonds with negative yield

Is this a ploy to get their credit rating back up; a form of manipulation?

I don't much like their socialist tendencies, especially their current government alas this is a bias I'm trying to keep out of my assessment. Any thoughts gentlemen?

God Bless

QCOR +17%.. nothing to see here

 

 

A Big Red Flag IMO...