Sunday, December 30, 2007

COT Numbers

The COT Report:
The latest Commitments of Traders report from the CFTC shows that Commercial Hedgers sold 18,917 S&P 500 futures contracts last week to bring their net short position to -7,222 contracts. Large traders were net short -8,394 contracts, with Small Traders net long the remaining 15,616, the so-called "weak hands". For the Nasdaq 100 futures, Commercials sold 4,564 contracts last week to bring their net long position to 2,967 contracts. Small Traders were net long 2,531 contracts in the Nasdaq. Commercial action in Dow futures saw the smart money buy 2,750 contracts to bring their net long position to 5,842 contracts.
Commercial Hedgers were better sellers in the S&P's last week, while Small Traders were better buyers, a short term bearish sign. Commercials are now net short in the all important S&P futures, and that has been an intermediate term bearish sign historically.

Saturday, December 29, 2007

For What it's Worth: Here's Byron Wien's Top Ten for 2008

Happy New Year Fellow Traders!!!

Hopefully 2008 will be the most profitable one ever! Charge up the battery, let's get pumped up for 2008 and knock the cover off the ball! Thank you for visiting and supporting this blog. See you soon!

Last Holy Grail Setup for 2007

Monday, December 24, 2007

Sunday, December 23, 2007

Saturday, December 22, 2007

The BEST trading book

I have read tons of books on trading over a 10 year time span and i think by far the book that opened my eyes on trading has to be the "Master Swing trader" by Alan Farley. He is my idol and i really admire his insights and his approach. Check out his website at

Read the book, it will inspire you.

Good trading!

Thursday, December 20, 2007

Stewie Meets Wall Street

Important Market Update

This market sucks ass! Enough Said.

Tuesday, December 18, 2007

Monday, December 17, 2007

A look inside today's Internals

Advances & Declines

Advances 606 (18%) 627 (20%)
Declines 2,744 (80%) 2,392 (77%)
Unchanged 68 (2%) 96 (3%)
Up Vol* 732 (20%) 205 (11%)
Down Vol* 2,801 (78%) 1,717 (88%)
Unch. Vol* 53 (1%) 22 (1%)
New Hi's 28 46
New Lo's 388 330

Sunday, December 16, 2007

Thursday, December 13, 2007

Divergences Spot the bottom today and set up a nice trade in MA for those that took it.

FSLR trade

yesterday i bot 500 FSLR in after hours after spotting this awesome looking C&H pattern. BOT 500 at 242 and sold it this morning at 246. a nice quick $2000. FSLR went on to rally 7pts from where i sold.
I usually would have been more patient with the pattern but i only got 3 hours of sleep due to my lady being sick. Seems like a shitty day to trade anyway. back to sleep.

Wednesday, December 12, 2007

Tuesday, December 11, 2007

I have a Dinner Engagement Tonight with My Lady

BUT I have quickly plowed thru some sector charts and i can tell you right now, today's action really damaged a lot of very nice chart patterns i was looking at a few days ago. I'll post a lot of them during tmrw's trading session. What a day! Thanks Ben!

Sold TNH: A swing from yesterday at $138.1 for a sweet $6 profit.

I am back to 100% cash ahead of the FED. We are very overbought and even tho we could rally after the statement. The chances are more likely that we pullback. I will buy any post-fed weakness.

Two Kinds of Markets/ Two Favorite Patterns

There are two kinds of markets, markets that trend UP/DOWN and markets that chop/go sideways. Therefore i have two kinds of strategies that I use.
Trending Markets: I use the HOLY GRAIL
Choppy Markets: I use the DOUBLE BOTTOM DIVERGENCE

If you are not familiar with any of them. Take some time and plow thru my archives and you will see detailed explanations of each. It will be worth your time.

Monday, December 10, 2007

Setup To Watch: SOHU

TNH Trade

Small Sell Signal on XBD.

Hopefully that setups a sell on the news tmrw after the FED meeting. I will be looking to buy.

Sunday, December 9, 2007

Holy Grail

Saturday, December 8, 2007

From Legendary Stock Market timer Bob Brinker's Newsletter


"Market Timer Stock Sentiment Index enters December with a highly favorable reading of 130 which well above its bullish threshold of 100."

"We expect the bull market to continue well into 2008 and we look for significant stock market gains, including new sp500 record highs."

Friday, December 7, 2007

Trades Taken Today: Holy Grail Setups Took Center Stage Today

I took all those trades except for LDK as i had my hands full at that point. But it was a very nice setup/trade for those that took it. Holy grail once again proved to be a very worthy trading setup for those that spotted and took the trades. Hopefully more setups like this next week.

Wednesday, December 5, 2007

RIMM bounce coming...

The Market continues to Rally even infront of BAD news

This I believe speaks volumes. Even tho there was plenty of negative news from MBIA and Ambak, the mrkt decides to hold on to the rally and even rally towards the close. This kind of news one month ago would have sent the mrkt tumbling. Bulls get READY!

Tuesday, December 4, 2007

Patience, patience, patience....

Waiting for the mrkt to setup is so hard b/c as traders we always feel that we need to be in the action all the time. There's a time to trade and there's a time to just sit tight. This is one of rare times where we need to just sit tight. Volatility will return and i will make trades again (good ones hopefully) but right now, isn't the time to trade. A lot of traders lose most of their gains from trending mrkts by trading directionless, low volume mrkts. Read a trading book, do some back testing/research etc. Good luck.

Monday, December 3, 2007

Great Video: Enjoy.

An Uneasy Feeling

Even tho the charts are telling me to expect this rally off the lows to last for a while, i can't help but notice the short squeeze nature of the move, rather then real new money coming into the mrkts. I am playing it long but i am very skeptical. The recent weakness in RIMM, GOOG, AAPL, FSLR and a few other mrkt leaders has me concerned that buying power isn't powerful enough to keep this rally last too long. Chances are higher that once this rally plays out, we very well could see another dive to test the lows again. The gap left on the index charts off the recent lows needs to be filled at some point. I am back into day trading mode but expecting higher prices for December. This is only a gut feeling and could change if i see more proof otherwise. good trading.

Intra Day Setup: ANW

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