Seeking Alpha

JasonGordon's  Instablog

JasonGordon
Send Message
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
My blog:
Swing High
  • Halftime Report, Wednesday December 9 0 comments
    Dec 9, 2009 12:29 PM | about stocks: UUP, GLD, XLF, IWM, SPY, DIA, QQQ

    So far stocks are mixed. However, the VIX is dropping (down 1.3% at the moment), Gold (NYSEARCA:GLD) is up .2%, and the Dollar (NYSEARCA:UUP) is down .13%. These three readings, provided they do not reverse, should provide stocks with some slight upside support. At the same time, Timothy Geithner wrote a letter to House and Senate leaders stating that the financial bailout plan will be extended to the Fall of 2010.

    The TICK is making is way towards bullish territory. The TRIN and TRIN/Q are both bullish. The Only index I am worried about is the Russell 2000 (NYSEARCA:IWM). Currently, IWM is down .9%. As I write this it appears as if IWM could be breaking down out of a symmetrical triangle it has formed so far on the session.

    video

    It will be interesting to see how the markets hold up (or not) today. This could be the beginning of a down leg, but I am not ready to call that. Check back this evening for your Post Market Analysis. Thanks for being a part of Swing-High.com! Always trade with a stop loss and manage your risk appropriately.

    Happy Trading,

    Jason 
Back To JasonGordon's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

  • 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
More »

Latest Comments


Most Commented
Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.