Thursday, August 25, 2011

Two Possible Scenarios To Watch Out For Now


I wanted to do a simple post tonight ahead of the much awaited JacksonHole Bernanke speech.
There is a lot of uncertainty right now ahead of this meeting and needless to say, bernanke's words are going to be a key driver to market's short term and possibly even mid term direction. It's vital to have an open mind right now. The VIX is extremely elevated indicating tons of pessimism and uncertainty.

In the two charts i attached tonight, i highlight TWO possibilities for SHORT TERM DIRECTION. Keep in mind that overall, BEARS get the benefit of the doubt at the moment. I have mentioned on twitter numerous times, this "market is guilty until proven innocent".

Bottom line, you cannot make any solid conclusions based from TODAY's market action or based on the futures action tonight. The charts will speak volumes to us come friday's close and early next week.

Here are TWO possible scenarios to watch out for.
Folks, remember, no matter how convinced you are in your view in the market's direction, there is ALWAYS a valid view on the other side. That needs to be respected now more than ever. Have an open mind right now, that's the purpose of this post tonight.

Good luck out there!

Monday, August 15, 2011

12 New Setups To Watch














Market is getting a little overbought now after a decent run off the lows last monday. So a few days of consolidation or pullback could be expected soon and would be quite healthy.

We are still not seeing the 'HIGH QUALITY' bases/setups yet but maybe in a few days or after a few days consolidation on the indexes we could see some leadership names start to emerge and take charge while others continue to build more solid bases.

A lot of names are a work in progress at this point. Too much damaged goods out there. It will take time to repair the damage.

Here are 12 setups to watch.

These are ALL short term plays: 1-5 day holds.

Hope it helps!

Friday, August 12, 2011

New Setups To Watch













For Short Term Trades Only. Good luck!

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