Thursday, March 20, 2008

Whole new world out there - is it really?

Firstly - I'd like to express my gratitude to "Mr. incognito" who just posted unusually generous donation sighting one letter on it:
Obviously my observations on Sprint AH activities already made someone happy. I guess if "someone" bought today at about 5.80 in the morning and sold at the end of the day ( of course, market was great for bulls ) at about 6.30 - steady climb with no shake offs would help - that makes 10% with really limited risk. Thank you again!
( I opened really large Apr5 calls positions today - might work out or it might not - never know with Mr. Market , might just get killed by time decay "Greek" )

Since March 13th I was more and more inclined to start covering shorts faster and hold longs longer. Today added to that intention, here is why.

Small cap blinking BUY signal on monthly chart, of course, it might change - month is not over yet, but if it will remain intact that would signal at least consolidation in small cap - obviously rate cuts starting to work its way through the system. ( I have to note that from all the signals I use the one popped up on (IWM) is the fastest and least reliable, but it is a start )

That was a "good news", the bad news is - on a shorter timeframe IWM does not look that hot, today it hit overhead supply resistance - it might be able to penetrate, but I still very cautious and not convinced at all - will watch.

Still sell on monthly ( don't get to excited if we get short lived rally )
Better on weekly, very bad on daily - beware.

will most likely attempt to get closer to 200MA about 140 with help of financial components - same here - will be going short at those levels most likely ( there is a big chance that it will just bounce off 135 level and fall from there )

(DIA) looks exactly like (SPY)
I think 12666 ( yes,I used that number on purpose ) is a short setup
We'll know when we'll live another day...

Have a great weekend - watch your eggs!

P.S. I am on "vacation" kind of, will answer emails and requests after weekend, sorry for delays. Brandt from Trade Guild was holding the helm for almost a week now.

One more thing - sorry for not been able to keep up with Day Trading sessions requests - we try to keep it very limited, you need to understand - that is NOT how we make money, quite opposite - doing that "thingie" is very distractive for our own trading - bear with us, please.

Yet, another thing - if you find content of this site and
Trade Guild
"entertaining", the least you can do to show your appreciation is to "spread the word" on financial groups - we'd really appreciate THAT!