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Archive for the ‘Market Morning’ Category

Lots of News Still to be Released Today $SPY $ES_F

Posted by Dino on December 1, 2010

Always know what can make or lose you money today.

We still have a ton of news left this week.  Probably the most important are the NFP Friday morning.

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Market Morning 10/6/10 $ES_F $SPX $SPY $YM_F $USDX $USO

Posted by Dino on October 6, 2010

Always know what can make, (or more importantly) lose you money today.

Yesterday the S&P sliced through the 1150 level and held like a champ during the day and in overnight trading.  Those overnight gains were likely sustained by overseas trading which most major indices showed fairly substantial gains.  Japans style of QE2 has apparently buoyed the expectations that other governments will enact some sort of market stimulus but is this sustainable?  Was the markets rally in September based upon the hope of QE2 and the now continuation of that rally based upon an expectation of further easing?

There are still technical and fundamental obstacles in the way.  The 200 week SMA for the S&P & the Dow lay ahead and 52 week highs represent the levels at which the “Flash Crash” occurred and that may provide some hesitation for traders.  The Nasdaq and the Russel 2k have already passed their 200 levels and they are now acting as support.  Most of todays economic news is out and the ADP employment numbers were at best a disappointment with a reading of -39K drop in payrolls.  The futures took a bit of a hit and are off their highs but most traders will wait for the more influential Inital and Continuing Claims tomorrow morning and the September Employment Situation on Friday.

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Market Morning 10/5/10 $ES_F $SPY $SPX $YM_F $GC_F $GLD $CL_F $USD $QQQQ

Posted by Dino on October 5, 2010

Always know what can make, (or more importantly) lose you money today.

European and Asian markets are primarily up after the Bank of Japan cut its interest rates and pledged to by $60 billion of assets.  Futures are currently up and it appears that we may be battling back and forth between the S&P 1130 & 1150 levels.  Yesterday selling dominated but we did not breach that 1130 level.  I’m guessing we may stay between these two levels until Thursday or Friday when the Employment situation is announced.

Crude continues its recent climb as Gold yet again makes new highs.  This continues to be an Equity, Treasury and Commodity rally while the dollar continues to get smacked down.

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Market Morning 10/4/10 $SPY $SPX $ES_F $YM_F $IWM $QQQQ $GLD

Posted by Dino on October 4, 2010

Always know what can make, (or more importantly) lose you money today.

Futures down slightly this morning as it looks like we may stay a bit range bound for a short time.  1150 appears to be the overhead level of supply and 1130 looks to be support in the S&P 500.  Near the end of this week there will be a bunch of employment news that may provide the catalyst for the move into the next move.  Weekly Initial & Continuing Claims and ADP Employment numbers are expected Thursday and the September employment picture on Friday may set the tone for October.

With all the choppiness of the markets lately and the upcoming news releases I’m going to sit back a wait for a little while before committing capital to some new trades.  Most of the market leaders like BIDU, AMZN, AAPL, PCLN et. al. are pulling back on decent volume while the overall market remains unchanged.  This could either be a nice buying opportunity for the leaders or a sign of things to come.  I will be sitting back and watching and try to listen to what the market is telling us for the next day or two.  I may mIss out on some moves.  The market may take off with out me but right now I would rather sit back and wish I was in than be in and wish I was out.

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Market Morning 10/1/10 $SPY $ES_F $SPX $YM_F $GLD $USO $USD

Posted by Dino on October 1, 2010

Always know what can make, (or more importantly) lose you money today.

So yesterday seemed to be a bit of a distribution day with a number of market leaders selling off on decent volume.   The major indices escaped with out any major technical damage but if we continue to sell off today we may drop back into the summer trading range.  So far it appears that things will open higher but we’ll have to wait and see if the sellers let it rise before pulling it back down as they did yesterday.

I’m raising some cash and closing some positions.  Most are involuntary closings but that’s why we have stops inplace and some profits were taken off the table and losses cut short waiting to decide where we want to position ourselves for next leg.

I will work on a watch list this weekend and post it prior to Monday’s open.  I’ll probably have some time on my hands because the Lions are playing Green Bay and since they haven’t won in Wisconsin since 1991 (I was a freshman in high school) luck isn’t on their side….neither are probabilities, statistics or fate cause they suck.  Alright….enough of the depressing stuff…..

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Market Morning 9/29/10 $SPX $SPY $ES_F $YM_F $CL_F $GC_F $TF_F $CRM $MOS

Posted by Dino on September 29, 2010

Once again futures are flat and overseas traded mixed last night.  Little on the economic release side that might influence the markets direction today so we may be in for another chop fest with little direction like yesterday’s action.  Yesterday was a bit of a pain in the ass if you’re a longer term trader but heaven if your scalping or day trading.  A couple of bullish things did come out of yesterdays action enough to keep longs in the game.  All 4 major indices put in some hammer candlesticks with some long lower shadows.  This along with the Russel 2K showing some relative strength peeking it’s head past some prior resistance may show that there’s some hope left.

Still looking to raise some cash.  CRM hasn’t impressed me with it’s action so I’ll probably close that out today or tomorrow and will more than likely close out my MOS position prior to earnings.  I would be very pissed if I lost my gains just to gamble on an earnings play.

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