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)

LOL: DGLD +26% today as gold tanks

Disclosure: I own PHYS as of today

Sunday, April 14, 2013

Sunday Rock Blog: Iko Iko and FSLR's +50% week via a massive short squeeze on x7 avg daily volume

Disclosure: I am long FSLR, but hedged with cover calls.

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