Saturday, April 27, 2013
Saturday, April 20, 2013
Monday, April 15, 2013
The Russell 2000 (small caps) broke hard today
In today's lovely daily candlestick, IWM broke through two seemingly important price points and more importantly its flattening 50 dma. The small cap ETF did all of this on 100M shares traded, second only to the first trading day of the year (~3x avg vol). This now brings into focus previous a previous area of support around ~$89, then nothing but air for another -$4.
Disclosure: I own TWM (inverse IWM)
Labels:
Failed Breakout,
Hammer Reversal,
Harry Belafonte,
IWM,
Russell 2000,
TWM
Sunday, April 14, 2013
FSLR 1 yr chart (+possible support levels)
Disclosure: I am long FSLR and short $40-strike June calls against the entire position. The calls make me nervous, because I think FSLR is in the early stages of a long term uptrend which started almost a year ago. That being said, the bulls would do well to consolidate their (massive) gains of late, but not to beyond recent levels of resistance (i.e. build support above $30). So I'd like to see FSLR hang out here or drift lower to these levels ($33.3-35.6) for a few weeks at least (i.e. form a bull flag and wait for MA's to catch up). Plus, hedging against a broad market decline seems prudent given the circumstances.
Saturday, April 13, 2013
Wednesday, April 10, 2013
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