Nine-Part Video Chart Request Series

If you find my specific analysis value-added and enjoy this type of interaction, consider joining the 12631 Trading Service inside The PPT here on iBankCoin.

Tickers Discussed & Corresponding Videos:

PART I.: MS XLF FITB

PART II.: TLT/TBT MCD DELL

PART III. EDC EEM EDZ BWP ROC CY

PART IV. CY FSLR TAN TFM AAPL

PART V. DANG WNR RIMM 

PART VI. GS LNC MS XLF GLD ANR

PART VII. FAZ CGR XSD XRT 

PART VIII. COF WPRT UUP SQNS

PART IX. TXT UAL BGZ BPAX TIBX AWK WFM P

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This market is understandably driving many traders crazy. It is easy to lose your head, and your shirt, without sticking to risk management principles like position sizing, cutting losses, patience, etc.. We are seeing wild price swings, indiscriminate selling, and randomness like we have not seen in years.

I plan to do a video(s) later this evening taking a look at the financials and other sectors. If you have a specific chart request for me regarding an index, sector, ETF, or individual issue, please leave it in the comments section of this post and I will try to get to it. 

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Direct Vimeo Link Click Here

 

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[youtube:http://www.youtube.com/watch?v=sRA2fAlxmyI 550 412]

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We’re closing off the lows, but it was still a bear rout.

More on the recap…

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All kidding aside on the Twitter stream, this is precisely the type of market that punishes you for making trades without your full concentration and focus on managing them. If you have a,”Oh, what the hell, let me buy a bunch of TNA or TZA here and hold until I get rich,” attitude, without knowing precisely when you will cut it loose if you are proven wrong, then this market will eat your lunch, dinner, and peas. You should also be much more apt to lock in quick gains. Of course, there is nothing wrong with sitting out of this action in cash, either.

There 1120 area on the S&P 500 proved it is a significant reference point once again, and I expect that to be a continued battleground site. Some of the materials are well off their morning lows, which does represent a divergence from the broad market that merits your attention soon. I credit our astute members in 12631 for noting that all day today.

All in all, there is no way to sugarcoat the fact that today has all the hallmarks of a 2008-style deflationary risk-off trade, with materials, miners, hedge fund-laden hot tech (AAPL)/consumer names all getting crushed while Treasuries and the Dollar rally.

The only issue now is whether today is a nostalgic but short-lived blast from the past, or whether it presages a bigger, badder Hollywood sequel.

 

 

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If you look on a 5-minute chart of the SPY, the bears have not permitted this market to bounce in any sort of meaningful way since yesterday’s FOMC announcement. The seven week rising channel on the S&P 500 daily chart has been violated, and the best hopes for the bulls remain at 1120 and 1101, respectively.

As I write this, I see we are taking another leg lower. This looks to be a potent trend day down, so I would not be surprised to see us close on the lows of the session. I was 84% cash walking into today, with an EDZ position, and two longs, but moved back 100% cash this morning. Although I have been playing some longs here and there over the past few weeks and months, I have still largely protected capital via a large cash position, unlike the healthy stages of the late-2010 rally we saw when I was far more aggressive. Hence, the focus should be on protecting enough capital here so that when we find ourselves in a better market you can capitalize, whenever that may be.

 

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