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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, Friday November 6: Interesting Resilience 0 comments
    Nov 6, 2009 11:56 AM | about stocks: IWM, XLF, FAS, SPY, QQQQ, DIA
     The Employment Situation came out worse than expected and the employment rate is 10.2%. You will be seeing that number in news headlines all weekend for sure. Keep in mind, real unemployment is closer to 17%. Despite the bad news, the markets are trading flat, with the exception of the Russell 2000 (IWM) and the Financials (XLF). The IWM and XLF are leading indexes and are showing relative weakness. The VIX is down 3% and that is a bullish sentiment read. The TICK and TRIN are neutral. The 5 minute chart on SPY (and most of the other broad market indexes) shows a nice symmetrical triangle. This triangle could act as a bullish pennant based on the uptrend on the 5 minute chart over the past few days. Bullish Pennant formations usually break out to the upside, and with today's resilience to the downside, a small rally into the close would not be too surprising.

    video

    Today is a great day to sit on your hands and watch. Thanks for being a part of Swing-High.com! Always trade with a stop loss and manage your risk appropriately. I will talk to you this weekend for your Weekend Review.

    Happy Trading,

    Jason
    Themes: employment situation, jobless claims, unemployment, unemployment rate, financials, russell 2000, bullish pennant, symmetrical triangle, tick, trin, vix, retirement, investing, stocks, stock market, day trading, technical analysis, finance, personal finance Stocks: IWM, XLF, FAS, SPY, QQQQ, DIA
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  • nice sell off on the major indexes $SPY, $DIA, $IWM, $QQQQ, $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 04, 2009
  • the vix should have support at 30 now... $TICK, $TRIN, and $VIX all behaving slightly bearish today after a bullish open
    Nov 02, 2009
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