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.
3/10/2010
Gold is rolling over - 20100310
As I mentioned yesterday, it looks like Gold is softening up a bit here. It is starting to work off its overbought conditions on its daily charts. Depending on the timing and the trend of the overall market we may look to close out of our Bear Call Spread and Covered Call positions to lock in profits.
March Option Expiration Date is not this Friday but next Friday - 03/19 so Time value is running out on these Calls...which is good for us! - 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.
March Option Expiration Date is not this Friday but next Friday - 03/19 so Time value is running out on these Calls...which is good for us! - 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.
3/09/2010
SPX - 1150 - 20100309
At this point I see no reason why the S&P 500 can't make a run at it's Jan '10 high of 1150.45. Other than mild overbought conditions there is no resistance between its current levels and the 1150 mark. Once it hit's this area it will be difficult for it to continue to push through. Gold looks like it may have topped and has failed to continue through over the last few days. Keep in mind that Gold has been a leading indicator for the overall market so this may be a sneak preview of a reversal for the SPX at its Jan '10 highs.
- 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.
- 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.
3/07/2010
SROON Repot Posted - 20100307
I just posted the SROON Report (Support, Resistance, Overbought, Oversold, Neutral)
- 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.
- 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.
3/04/2010
It will be interesting to see if Gold can hold above the 1125 level today. If it closes below that mark tomorrow could be an interesting day all around! - 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.
A Subscription to Trade Above Wall Street's - Key Access gives you in depth research, charts, analysis and notices on our positions and trades.
3/03/2010
Newsletter Update - 20100303
I just posted a new newsletter in which I discuss catching versus chasing a wave. Also at the end I give a clue as to what our next position might be...
Sign in here: TAWS Free Newsletter - 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.
Sign in here: TAWS Free Newsletter - 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.
3/02/2010
Key Access Update - 20100302
I thought everyone could benefit from tonight's Key Access update so I've made it available to everyone:
Click here to read: Key Access - 20100302
- 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.
Click here to read: Key Access - 20100302
- 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.
3/01/2010
New Newsletter Posted
I just posted a new Newsletter. Please login by clicking on the "Newsletter Access Area" found on the side menu.
- 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.
- 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.
SROON Report Updated
I just updated and posted the SROON Report (Support, Resistance, Overbought, Oversold, Neutral.) Some of the numbers have changed so make sure you take a close look at it.
Looks like Gold is not doing much in the Asian markets. The Nikkei 225 is flat and the Hang Seng is up 1.9% as I type this.
A Subscription to Trade Above Wall Street's - Key Access gives you in depth research, charts, analysis and notices on our positions and trades.
Looks like Gold is not doing much in the Asian markets. The Nikkei 225 is flat and the Hang Seng is up 1.9% as I type this.
A Subscription to Trade Above Wall Street's - Key Access gives you in depth research, charts, analysis and notices on our positions and trades.
2/26/2010
Trade Above Wall Street now on Twitter
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SPX Resistance @ 1106 - SROON Report
We continue to bump up against resistance on the SPX @ 1106. If we’re unable to break through this level we should pull back to the 1075-1080 level towards the end of next week. Yesterday's reversal of strength was a bit unexpected and continues to push the indicators towards overbought levels on the Daily charts.
I’ll be updating the SROON Report over the weekend to break down all the market indices and sectors so that we can – Keep an eye on the Big Picture! - 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.
I’ll be updating the SROON Report over the weekend to break down all the market indices and sectors so that we can – Keep an eye on the Big Picture! - Dennis Glore
2/24/2010
Key Access Update
I just updated the Key Access area regarding our trades from this morning. Hope your day is going well! - 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.
A Subscription to Trade Above Wall Street's - Key Access gives you in depth research, charts, analysis and notices on our positions and trades.
2/23/2010
Welcome to Trade Above Wall Street's Blog
Welcome to Trade Above Wall Street's Blog. Check here often as it is still under construction. - 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.
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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