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Will Santa Deliver?
http://screencast.com/t/QqmeHugzf
Short-term setup, but nice pattern and early launch.
(edit: with the exception of (3), I consider myself an expert in the others!)
Orang=man
hutan or utan=jungle
jungle man
Ok on a serious note, Shanghai tried 3x this week to break 3,000 and couldn't. Interesting.
Dollar to Hit 50 Yen, Cease as Reserve, Sumitomo Says
http://tinyurl.com/yjtjxu6 (with the decline in bonds, yields have launched farther than I expected in the last 10 days … and now the 10 year yield is near break out resistance … a break out here would correspond with further declines in bonds and would probably prevent a sell off in the equity markets.)
http://tinyurl.com/ybbmay8 (I am NOT limiting how high the Euro might go … here’s why … look at that shock down in the Yen over the past week. The weak US Dollar remains a HUGE issue here for a bearish stance.)
http://tinyurl.com/yhetx74 (overall commodities continue to show relative weakness to the $SPX, but some of them (like oil) are leading this move up. The Dow Jones Oil & Gas Index is up about 15%, and is up 8 of the last 9 days.)
http://tinyurl.com/yg8kr8o (I am noticing several areas are NOT confirming with a close above recent highs despite the $SPX and $INDU hitting new 2009 highs … transports index remains on that list suggesting that we lack a Dow Theory confirmation)
http://tinyurl.com/ykbv5jh (Some, but not all, breadth indicators are confirming the up move. However, the McClellan oscillators have not been able to reach bullish territory).
From a risk entry perspective, because the equity markets are short term overbought and we are nearly beyond OpEx, I sense that it is within reason to begin entering some positions to the short side. However, I expect a generally flat tape for OpEx Friday, so I am not in any rush to make early short entries.
Hope you all had a great day....
Moo, did you jump on the SRZ trade? You mentioned you would not be trading unless SRZ was to get frisky...I guess you had your eyes on it..and I just checked it when I got back...what a move!!!
All the best...
But this version is for those in Oceania:
http://www.youtube.com/watch?v=mteaujyyeO0
Gotta watch it, gang ;-)