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Los Angeles - A free-style trader who is continuing to evolve and learn. I am biased toward mean-reversion trades, but am honing my senses for trending markets. I am a part-time trader with a full-time day job. I also love to hang out in the Market_Rewind Chatroll traders' room and interact with new and different-style traders.

Movement Ahead

Posted on July 27th, 2014

IWM currently holding on to its 200 day MA at 113.52. Below there it will be important for the recent low of 112.20 to hold. Getting and staying above 114 would be a good first step to a possible recovery back to highs. GDP/FOMC/NFP are all slated next week and could provide a large moving range [...]

Poor News Bought

Posted on July 19th, 2014

After 60+ days of calm, we finally had back to back 1% movement on the S&P500 with poor international news flow.  The red hot housing market along with improving economy continue to put a strong support under the market.  Bulls continue to hold the upper hand.

Bank Scare

Posted on July 12th, 2014

Banco Espirito Santo, Portugal’s second-largest bank by market value reassured the markets late Thursday that potential losses resulting from its exposure to Espirito Santo Group will not compromise its compliance with regulatory capital requirements and the bulls were back in business.  While the small cap suffered, S&P and Tech. held in very well and may [...]

Charging Bulls

Posted on July 4th, 2014

Top callers are again out this week, but the bulls continued to march higher.  While the Jobs gap left today may fill in the coming days, the trend is pointing up with economy picking up strength.  Happy 4th.

Strong Market

Posted on June 30th, 2014

Calls for a Twin Tops or at best a consolidation phase at lower levels with Earnings due out soon is again popular.  It is a delicate area due to the World Reserve Banks protecting assets so well and lengthening normal cycles.  VIX continued to stay very low with a possible raise in July.  With good [...]

Grinding Higher

Posted on June 22nd, 2014

Market continue to grind higher after some minor side way action.  IWM next week could possibly reclaim previous highs. Individual stocks have been providing huge returns in a short time span.  Energy, healthcare, solars, semiconductors and select tech are showing enormous strength. Financials may also have some more upside ahead. Granted some names may be overextended [...]

Quiet Consolidation

Posted on June 15th, 2014

The insurgents are on a roll in Iraq right now and, so far, they are meeting very little resistance from the Iraqi military. The big question is going to be what will the U.S. do and when? With the FOMC on deck, SPY dividend looming, and the potential quarter end markup, bulls continue to hold [...]

Negative Rates

Posted on June 8th, 2014

The incessant creep higher in the S&P 500 is making investment managers having to pay up for stocks.  SPX has basically been higher without much of a pullback for the last 12 consecutive days.  That makes it overbought, but not wanting to give back any gains.  The ECB took the rates to unprecedented negative level [...]

Appetite for Risk

Posted on May 31st, 2014

No changes to the bullish play book, as all the dips were continuously bought and S&P broke out of several month of consolidation.  The new highs in the market keeps us incrementally more bullish and ‘buy the dip’ probably will continue to work into new month and nonfarm payroll data.  1930-1940 could be near term resistance.  [...]

Recovery High

Posted on May 26th, 2014

The NASDAQ and small-cap indexes are breaking above their recent down trend.  That  embolden the bulls and lead to new highs in the SPX.  We could still have a bit more to go until early June before any significant correction takes place.  We will want to proceed with cautious optimism as we head into the [...]

Still Stuck

Posted on May 19th, 2014

Earlier marginal high followed by failed breakout by the S&P 500 is again frustrating the bulls.  It was also accompanied by the NASDAQ and mid-cap indexes breaking back below their 50-day averages.  This is not bullish price action but the IWM held in at the recent low and could be getting ready for a short [...]

Divergent Market

Posted on May 11th, 2014

Historically market selloffs would start with the high beta names and eventually spread to the value stocks.  And that would mark the beginning of the end of most corrections.  But with QE from the Fed, things seem to work differently.  The way that the SPX has held up lately seems to suggest at least a [...]

Waiting for a Break

Posted on May 4th, 2014

The correction is fairly long in the tooth and the market lately has not made new lows.  The correction was mainly in high beta growth stocks.  The NASDAQ and mid-cap indexes are breaking back above their respective 50-day averages.  And the Dow and S&P 500 are pretty close to new highs.  Next week will be [...]

Ukraine Fear

Posted on April 27th, 2014

The stock market bounced early in the week, but most of the major indexes remain below their 50-day averages.  Corrections don’t usually come in a straight line.  The selling Friday on Ukraine fears may spill over Monday providing a risk on trade opportunity into FOMC rate decision and nonfarm payroll.  SPX 1845-1850 is possible support for a [...]

Resistance Ahead

Posted on April 20th, 2014

The S&P 500 continues to lead the action in terms of holding above its 50-day average.  But with the other major indexes still below their respective 50-days, some give back next week after the strong bounce seems reasonable.  Caution is still warranted as we approach the previous resistance area.  While end of April may still [...]

Correction Gains Momentum

Posted on April 14th, 2014

The 2-day bounce in stocks on lower volume was sold hard end of the week.  Friday it feels like we are right back to where we left off on Monday as the selling intensifies.  Many high growth stocks are getting hit hard, as well as biotechs which are down across the board.  Aside from the [...]

Profit Taking Contagion

Posted on April 6th, 2014

Although April started like the uptrend would resume, the pressure that has resurfaced in the NASDAQ and Russell on Friday is much larger compare to recent reversal days.  The rotation into more defensive areas of the stock market could just be initial complacency.  The risk remains that the selloff in the high growth stocks spreads to the [...]

April Bounce?

Posted on March 29th, 2014

The market reversed its early gains and nearly closed on its lows again.  The Nasdaq and the Russell 2000 are both trading below their 50-day averages.  This increases the chance that the S&P 500 follows suit.  The 50-day support for the SPX is currently around the 1834 level.  That said, the bulls still have a [...]