Hi Folks,
Well due to my schedule this week I missed great trading opportunities yesterday. The GLD, SPY and FCX short setups were their for the taking. I was not infront of a computer until after the markets closed so I missed the boat. I was hoping for a chance to put something on this morning but we fell to far too fast.
Thanks and Good Trading,
Tim
Friday, February 10, 2012
Thursday, February 9, 2012
GLD Short
HI Folks,
I have been away from my computer all day today and most of the day yesterday so I have not done any trades other than the one from yesterday morning. I am liking the short set up in gold. I am looking for an entry point to short GLD since i missed the setup earlier today. I will tweet when I open the short position in it.
Overall still have the same bias of shorting into rallies and will keep you posted.
Thanks and Good Trading,
Tim
I have been away from my computer all day today and most of the day yesterday so I have not done any trades other than the one from yesterday morning. I am liking the short set up in gold. I am looking for an entry point to short GLD since i missed the setup earlier today. I will tweet when I open the short position in it.
Overall still have the same bias of shorting into rallies and will keep you posted.
Thanks and Good Trading,
Tim
Wednesday, February 8, 2012
Trading Today
Hi Folks,
Just a quick update on today's trades. I only did one quick trade this morning. I shorted SPY at 135.20 and bought it back at 134.90. For those who don't know, selling short is just the opposite of buying a stock. When you buy a stock you hope to sell it at a higher price than you paid. When you short a stock, you sell it first and then hope to buy it back(cover the short) at a lower price. As I mentioned in this mornings blog, I will be looking for more of the same. That is to sell short into a rally.
Thanks and Good Trading,
Tim
Just a quick update on today's trades. I only did one quick trade this morning. I shorted SPY at 135.20 and bought it back at 134.90. For those who don't know, selling short is just the opposite of buying a stock. When you buy a stock you hope to sell it at a higher price than you paid. When you short a stock, you sell it first and then hope to buy it back(cover the short) at a lower price. As I mentioned in this mornings blog, I will be looking for more of the same. That is to sell short into a rally.
Thanks and Good Trading,
Tim
BOND AUCTION
Hi Folks,
We are getting ever closer to at least a short term top in the market. I think that around 137 in SPY(the ETF that mimics the SP500), would be the short term top in the market. So I am moving my general market bias from buying the dips to selling the rallies. The SPY is currently trading around 135 so I am comfortable shorting against the 137 level as my stop loss. In other words, if I short the rallies I would only cover the short with a significant push through 137 in SPY.
Today we have a no real news to speak of other than the 10 year bond auction at 1pm. That should have an impact on interest rates and more importantly my postion in TBT. TBT is the ETF that tracks the yield on the 20 year treasury. So with the opinion that TBT is going to move higher over the next few months, I am saying that there will be net sellers of treasuries. In bonds, price and yield have an inverse relationship. TLT is the ETF that tracks the price, not the yield, on the 20 year treasuries. So being bullish on TBT is the same thing as being bearish on TLT.
Thanks and Good Trading,
Tim
We are getting ever closer to at least a short term top in the market. I think that around 137 in SPY(the ETF that mimics the SP500), would be the short term top in the market. So I am moving my general market bias from buying the dips to selling the rallies. The SPY is currently trading around 135 so I am comfortable shorting against the 137 level as my stop loss. In other words, if I short the rallies I would only cover the short with a significant push through 137 in SPY.
Today we have a no real news to speak of other than the 10 year bond auction at 1pm. That should have an impact on interest rates and more importantly my postion in TBT. TBT is the ETF that tracks the yield on the 20 year treasury. So with the opinion that TBT is going to move higher over the next few months, I am saying that there will be net sellers of treasuries. In bonds, price and yield have an inverse relationship. TLT is the ETF that tracks the price, not the yield, on the 20 year treasuries. So being bullish on TBT is the same thing as being bearish on TLT.
Thanks and Good Trading,
Tim
Tuesday, February 7, 2012
CONSOLIDATION
Hi Folks,
I think we are in a period of consolidation. In order words, the market needs to digest it's gains. We are up over 20% since the lows on October 4th. I think we are going to see the market in a range of 20 SP500 points either way. If you use SPY, which is the ETF that mimics the SP500, that is a 2 point range either way.
I will continue to Tweet my trades on Twitter. Please feel free to comment on any post and/or ask about any particualr stock, ETF or currency pair you like and I will be glad to share my opinion.
Thanks and Good Trading,
Tim
SD2PQRRR6ATC
I think we are in a period of consolidation. In order words, the market needs to digest it's gains. We are up over 20% since the lows on October 4th. I think we are going to see the market in a range of 20 SP500 points either way. If you use SPY, which is the ETF that mimics the SP500, that is a 2 point range either way.
I will continue to Tweet my trades on Twitter. Please feel free to comment on any post and/or ask about any particualr stock, ETF or currency pair you like and I will be glad to share my opinion.
Thanks and Good Trading,
Tim
SD2PQRRR6ATC
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