We continue to be bearish and short the markets. I would expect a bounce at some point this week but unless a miracle happens there isn't anything that will change our position. Gold is hitting major resistance with a lot of overhead at the 1250 level. If it breaks out above 1250 it will likely be off to the races. I am mostly concerned with the mining stocks being dragged down with the rest of the market so everyone should be aware of this possibility.
- Dennis Glore
A Subscription to Trade Above Wall Street's - Key Access gives you in depth research, charts, analysis and notices on our positions and trades.
8/22/2010
4/15/2010
Check out the cover of Newsweek - 20100415
All the signs of a correction are lining up as indicated in both the technical’s and propaganda articles like this:
http://www.tradeabovewallstreet.com/Site/images/newsweek.jpg
When you start to see articles like this, about anything, it’s time to go the opposite direction.
- Dennis Glore
A Subscription to Trade Above Wall Street's - Key Access gives you in depth research, charts, analysis and notices on our positions and trades.
http://www.tradeabovewallstreet.com/Site/images/newsweek.jpg
When you start to see articles like this, about anything, it’s time to go the opposite direction.
- Dennis Glore
A Subscription to Trade Above Wall Street's - Key Access gives you in depth research, charts, analysis and notices on our positions and trades.
4/06/2010
2010-04-06 - $SPX - Daily Candlesticks
We continue to see gravity defying, overbought markets that ignore any seasonality. By mid-week of the 1st week of earnings season the markets tend to lose any momentum they've gained going into it. Today should be the bulls’ last hurrah and we should start to see a pull back in the markets. This is good for us because we're about to be shaken out of our SDS, TZA and QID positions.
$SPX - Daily Candlesticks: "
via StockCharts.com
"
- Dennis Glore
A Subscription to Trade Above Wall Street's - Key Access gives you in depth research, charts, analysis and notices on our positions and trades.
$SPX - Daily Candlesticks: "
via StockCharts.com
"
- Dennis Glore
A Subscription to Trade Above Wall Street's - Key Access gives you in depth research, charts, analysis and notices on our positions and trades.
3/29/2010
Opened up today on some QID @ 16.69
The Nasdaq 100 is pretty much in the same boat as the rest of the market but there are a few additional technical indicators that are telling us that it is particularly vulnerable at this time.
The important Payroll Report comes out on Friday (a closed day for most of the market) and only Future contracts trade for a short time on that day. This is a very rare occurrence!
Remember that this week is a shortened week. - Dennis Glore
A Subscription to Trade Above Wall Street's - Key Access gives you in depth research, charts, analysis and notices on our positions and trades.
The Nasdaq 100 is pretty much in the same boat as the rest of the market but there are a few additional technical indicators that are telling us that it is particularly vulnerable at this time.
The important Payroll Report comes out on Friday (a closed day for most of the market) and only Future contracts trade for a short time on that day. This is a very rare occurrence!
Remember that this week is a shortened week. - Dennis Glore
A Subscription to Trade Above Wall Street's - Key Access gives you in depth research, charts, analysis and notices on our positions and trades.
3/19/2010
Email to Key Access Members this Morning - 20100319
Weakness Finally? - 20100319
It will be interesting to see if the markets finally pause or pull back today. They have defied gravity for a record run and are extremely over bought at this point. The big Investment Managers are fully loaded long into this market at levels that haven’t been seen since 2007. This along with other technical indicators are very bearish for the markets.
Option expiration date has been pretty non-eventful over the last few years but has historically shown that major swings can occur. With that said, it would not surprise me if we see a nice pull back today. I’m not looking for a prolonged bull back but rather a quick hard 2-3 day retracement of about 5%. I’d like to see the overbought levels slowly bleed off from there. It is at that point that I’d take short term profits on our positions and look to go back long.
That’s looking way too far down the road so we’ll just work with what the market is showing us right now and what that is-is over-bought and screaming to pause or sell off.
- Dennis Glore
A Subscription to Trade Above Wall Street's - Key Access gives you in depth research, charts, analysis and notices on our positions and trades.
It will be interesting to see if the markets finally pause or pull back today. They have defied gravity for a record run and are extremely over bought at this point. The big Investment Managers are fully loaded long into this market at levels that haven’t been seen since 2007. This along with other technical indicators are very bearish for the markets.
Option expiration date has been pretty non-eventful over the last few years but has historically shown that major swings can occur. With that said, it would not surprise me if we see a nice pull back today. I’m not looking for a prolonged bull back but rather a quick hard 2-3 day retracement of about 5%. I’d like to see the overbought levels slowly bleed off from there. It is at that point that I’d take short term profits on our positions and look to go back long.
That’s looking way too far down the road so we’ll just work with what the market is showing us right now and what that is-is over-bought and screaming to pause or sell off.
- Dennis Glore
A Subscription to Trade Above Wall Street's - Key Access gives you in depth research, charts, analysis and notices on our positions and trades.
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