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JasonGordon
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My passion is trading stocks. I am a student of the markets just like you. Follow me as I learn new things and analyze the markets. http://www.swing-high.com
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  • Halftime Report, Thursday October 29: Sympathy Bounce or Swing Low? 0 comments
    Oct 29, 2009 12:09 PM | about stocks: IWM, QQQ, DIA, SPY, XLF, TNA, SPXU, TRIN

    The markets are higher today which comes as no surprise after the good economic reports this morning and the short term over-sold nature. This morning, Jobless Claims and GDP reports beat expectations and certainly acted as a catalyst sending us higher today. The VIX is bleeding out nicely as fear is leaving the market today. The TICK and TRIN are obviously bullish.

    So is this a sympathy bounce or a swing low? There is no confirmation either way at this point in time, but confirmation may come tomorrow or early next week.

    video

    Last night I dumped SPXU for a healthy profit on the day (in at $44.02 out at $46.22 for a 5%+ gain). I thought it would be prudent not to hold that position over such big economic news. I was proven right today and my "insurance" paid well. This morning I traded TNA long from $38.27. I was stopped out at $38.75 on a healthy bull pull back which leads me to believe that my stop may have been a bit too tight. The reasons behind my stop decision are under consideration.

    Thanks for being a part of Swing-High.com! Always trade for a stop loss (even if you get stopped out) and manage your risk appropriately. Check back this evening for your post market analysis.

    Happy Trading,
    Jason

    Stocks: IWM, QQQ, DIA, SPY, XLF, TNA, SPXU, TRIN
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  • nice sell off on the major indexes $SPY, $DIA, $IWM, $QQQ, $XLF. Entered long positions in $FAZ, $EDZ, and $TZA throughout the morning
    Nov 12, 2009
  • put an order in to pick up some $fas at $70.17... will probably hold it for this up leg if there is one
    Nov 4, 2009
  • the vix should have support at 30 now... $TICK, $TRIN, and $VIX all behaving slightly bearish today after a bullish open
    Nov 2, 2009
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