yesterday

Mini Correction, Mini Recovery Then Massive Correction?

Posted by Investing Freak on September 01, 2009
Market Analysis / Comments Off on Mini Correction, Mini Recovery Then Massive Correction?

As I posted a while back, (See the “Fake Correction Followed By Fake Rally?” article if you missed it) the $SPX (The S&P 500 Index) has nicely corrected to satisfy me that there will be another move up 20-40 points to shake off more bears and when they are nearly all out (If market makes a higher high it will be seen as very bullish) it will have a massive correction to trap bulls and make bears cry for getting out too quickly.

I will be revisiting the charts I drew in the previous article mentioned above. Let’s start with the closer look in the past 3 days.
I was waiting for the SPX to break either the red or the green line and close below it. Well yesterday it did just that and that was the first clue as to where we were heading today.
The blue arrows are there to just demonstrate the Support line and where yesterday’s close was.  Grey line was my prediction for the next 2 weeks or so but it was defied by the market as it tanked lower and lower.    (Click to Enlarge)

spxsept1

Second chart is the long term view of things and 2 possible outcomes that this investing freak sees realistic.
Scenario 1: (Orange Lines) Bounce back the next 5 days to reach possible 1040 (ADP Nonfarm Employment change tomorrow morning so this could happen if it “surprises”)  then drop back to 1000’s and head lower going into October.
Scenario 2: (Green Lines) Go down further for the next day or to and reach 985-990 for a close (it could go down further and still close above 985 to be valid). Then hit ~1020 shake a few shorts that believe 1000 level has cracked and proceed into 950’s.
Scenario 3:  That’s your opinion and I would like to know 🙂
Here comes the updated chart. (Click to Enlarge)
spx-sep1-09 Good luck! and don’t forget to follow me on:
Twitter ( http://twitter.com/investingfreak )  or  Stocktwits ( http://www.stocktwits.com/u/investingfreak )
For the latest live commentary.

-K

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8-20-2009.. another repeat of 7-13-2009 ?

Posted by Investing Freak on August 21, 2009
General / 1 Comment

If you have been following my current picks page you might have noticed that most of the symbols received buy signals on 7-13-2009 which is when the March rally was coming to a correction but then bounced. Will we have another case of this with 8-20-2009?
I was hoping we wouldn’t that is why I posted those charts yesterday thinking  we had topped. Well my automated strategy was saying otherwise and I completely Ignored it.

Normally I would just update the current picks page but this time around I have decided to make a blog post.
———-

Market Indices and other important Quotes
(Note: I understand you can’t purchase an index so bear with me these are just signals)

Symbol

Buy Date

Sell Date

$SPX

8-20-2009

$INDU

8-20-2009

$COMPX

8-20-2009

QQQQ

8-20-2009

IWM

8-20-2009

SPY

8-20-2009

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
The Rest of the Symbols (More will be added per request)

Symbol

Buy Date

Sell Date

IYR

8-21-2009

AAPL

8-20-2009

DRYS

8-14-2009

SDS

8-20-2009

SRS

8-20-2009

SSO

8-20-2009

SKF

8-20-2009

UYG

8-20-2009

URE

8-21-2009

JNK

8-21-2009

HYG

8-7-2009

REW

8-20-2009

QID

8-20-2009

QLD

8-20-2009

XLF

8-20-2009

DIG

8-20-2009

DUG

8-20-2009

SMN

8-20-2009

VXX

8-19-2009

The VIX  ETF signaled a sell before the rest of the signals came in the following day. That is interesting.

-K

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Summary of picks from yesterday

Posted by Kamil on May 19, 2009
General / Comments Off on Summary of picks from yesterday

Yesterday’s picks turned out to be right on. Although with pathetic moves, AMD gained its way up. It has been trying to break its new resistance at $4.50 majority of the day. Unfortunately, I followed my plan and sold it in the morning to break even (including commission) because I did not have any more patience from watching it a day before. If I would have kept it for the day and trust my own gut, I could have made easy $0.2501 per share (or 6%). I hope some of you had more patience and easily profited on AMD. The lesson to be learned from this is that I’m very impatient trader.

AIB is hanging strong. Even though I intended to keep it for a longer period of time, I sold it with $0.26 per share profit (or 9%) because I needed net liquidity for other trades I did today. With that said, AIB is still a keeper and I will very likely get back into this stock some time this or next week.

Company Buy Date Sell Date Buy Price Sell Price Gain/Loss
AMD 5/18/09 5/19/09 $4.1399 $4.15
AIB 5/18/09 5/19/09 $2.89 $3.15 9%

Although single digit, 9% profit overnight is always nice.

Let me know what you think about those two picks in the comment box.

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