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  • The Bull is Back – A Full Market Recovery

    Posted on September 16th, 2009 No comments

    If you watch business television, you will hear a lot about a W shaped recovery and a V shaped recovery. Simply put, my bet is with a V shaped recovery and we are well into it. Most analysts were expecting a drop once we broke 1000 on the S&P, and it didn’t happen. We are well through 1000 and approaching 1100.

    Is 1500 on the S&P possible next month? Absolutely not, but in 2010 I certaintly think so. I believe we are going to fight a little battle here at the 1075 range, maybe falling back as low as 1025. But generally speaking the charts are strong and very bullish. We are out of a recession and its only a matter of time till you hear Bernake say it.

  • Silver & Gold Keep Pushing Higher

    Posted on February 18th, 2009 No comments

    Unfortunately I didn’t get the pull back I was looking for in the S&P but we got extremely close. Around 10 AM we were down about 100 points and I was about 30 cents off my entrance on DOW Chemicals, which would of been a great play. I didn’t get close with General Electric (GE), but that’s expected with their dividend payout coming Thursday night.

    On the other end, Gold and Silver kept pushing higher. I was really hoping for a pull back here, just to keep my charts healthy and create a buying opportunity for myself. Instead I picked up a small amount of GDX (Gold Miners) since it didn’t make the break upwards like the actual metal today. I’m still anxiously waiting for a pull back in gold or silver, these are not plays I want to be sitting on the sidelines for. I will continue to build on GDX or HGU as the miners make pullbacks.

    Tomorrow I’ll be specifically looking for entrance points in gold, silver and the miners. GE and DOW would need to make huge gaps downwards if I purchase in them.

  • Sitting on the Sidelines

    Posted on February 18th, 2009 No comments

    It’s not often that I sit on the sidelines, but after cashing in on a short with Netflix and a long with Silver, the sidelines is where I’m sitting. I’m looking for a huge drop in the S&P early Wednesday morning so I can take some long positions in GE or DOW. It’s mandatory that I see a violent drop early in the morning, or else all bets are off. I’ll also be picking up shares in SLV and GLD on every pullback. Here is a breakdown of what I’m watching…

    • I’ll be buying GE around $9.80 in premarket or first hour.
    • I’ll be buying DOW around 8.10 in permarket or first hour.
    • I’ll be shorting NFLX around $39.00
    • I’ll be buying SLV around $13.50
    • I’ll be buying GLD around $940

    That’s my game plan right now, and that’s only for February 18th. The charts change daily, so obviously none of this applies for me after mid-day on the 18th. Happy trading!