Monday, October 25, 2010

peeps r still shorting

I have joined several trading groups in my area, and I hear people saying "this market is going to crash any day. I'm adding to my shorts everyday. There is no logical reason the market should be up. Housing sucks, unemployment sucks, Obama doesn't know what he's doing, Obama care will BK this country, no technical reason we should be rallying, no fundamental reason we should be rallying, any day now we are going to crash big time". I also have noticed most of these shorts/doomsayers are Republicans(G.O.P.). They may win the house back in November, but there getting their ass kicked in the stock market. I just love taking their money. :) Thanks

This week: Don't fight the trend. My best trades have been buying the dips on the daily 8ema. or S pivot

First level of Support is 11,000 and resistance is 11250.

Wednesday, October 20, 2010

Silver Yearly R2 pivot stopped the run

The silver etf SLV ran into the Yearly R2 Pivot(purple line marked r2 @blue circle). R2 Pivots have a 85%+ odds, that will be the highs 4 2010. I'm watching the 8dma(light grey line) to see if it will become resistance now. Support should be at the 20dma(yellow line) and Monthly R1 pivot(green line marked R1) @$22.31.

Tuesday, October 19, 2010


The US Dollar Index looks like a short term bottom on the Monthly S1 Pivot. Next Resistance is at 78.25 - 78.50. Support is at 77.25.

Dec Gold @ YR2

December Gold is testing the Yearly R2 Pivot. I also noticed on that Silver(XSLV) kissed the YR2 Pivot @ $25.

Monday, October 18, 2010

Monthly R1 pivot resistance

The Dow and S&P are running into resistance at the monthly R1 Pivot(blue circle). Look for a pullback to the 20 dma or sideways consolidation this week.

Monday, October 11, 2010

Opex week

We have October OPtions EXpiration(Opex) this week. and earnings season starts. It should be a whippy week. The Dow Jones is pinning the 11,000 strike. The S&P should pullback and pin the 1150 strike this week. I think we'll trade between 1150 and 1175 possibly 1200 this week.
the Monthly R1 Pivot on the INDU =11116 will be resistance this week

Monday, October 4, 2010


A correction can be either in Price or in Time. Last week the markets took a break and went sideways. The 10875 level on the Dow Jones has been strong resistance, as per the chart above showed it would be. Is the market running out of steam or just taking a break to let the 20dma(yellow line @10650) catch up? Or does the market drop down to the 20dma and open gap at 10666? Until we get a strong reversal/sell signal, keep buying the opening dips. This week, look for resistance at 10942 and then at 11056. Support this week comes in at 10650 and then at 10500.