S&P 500 Update

We got the breakout I was looking for, now the real test comes near 875. Most likely, we will trade in a range from 875-800 for a few weeks (orange channel).

Now on to the championship, it looks like it will be Wabisabi & N00b in the championship with their respective picks in TZA & TWM. I was really hoping a 3x ETF would not win, but these instruments are so powerful (especially on the short side) that it was almost guaranteed.

My apologies for allowing these instruments to play in the contest, it won’t happen again. If you learn anything from this, it is that all leveraged ETFs are made to be shorted.

Happy Easter!

Comments »

For more analysis on how to play this, click here

Disclaimer: long FEED

Comments »

Check out the current score in the final four.

I have to say, at this point it looks like and ETF will win, however I’m pulling for STP. Speaking of solar, I’m surprised that LDK is not up more– with today’s action, mixed with the close LDK had yesterday, the stock could easily be up a point. I will be holing for higher prices (note: moved my stop right below 50 day). It’s still a buy right here @ $8.00

JASO is also looking good, I’m waiting for it to trade above resistance before buying more.

S, is flagging.

PKD, still looking good, but may take profits on this one today.

You gotta love UA:

My one sore spot today is FAZ, but I had to have a hedge with all my long exposure. I’m actually looking to add to this position today.

Stay tunned…

Note: Go STP

Update: take a look at FAS:

Comments »

Here are my current holdings:

[[GOOG]], [[AAPL]], [[PALM]], [[JASO]], [[LDK]], [[GU]], [[WTI]], [[C]], [[UA]], & [[FAZ]]

Comments »

Instead I will use this dip to make a few more buys. On my radar I’m looking at S, [[PALM]], GHM, LDK, WTI, more UA, EBAY, TSO, ATVI, HANS, CHL, and a “DT” favorite, GAIA

Comments »

Still looks bullish to me, especially that last candle.

The fact that we are right at resistance and refuse to sell off is a good sign for the bulls. I’m watching for a break above the downward sloping channel (green line). A sell-off is still possible, but I like my chances being long here.

The orange line (@ 800) is an area, if broken, I will begin to get defensive with my longs. However, we also have the 50 day moving average which is right underneath, for added support.

Again, I like my chances being long.

Top pick: LDK (provided it trades above it’s 50 day)

(disclaimer: long LDK call options)

_______________________________

Update: Don’t forget about FEED

Comments »