[Edit: Of course the moment I post this SMH rips, showcasing the need for objectivity with respect to price! Analysis package will still be out Sunday] While the rest of the market has taken back the losses seen last week (very quickly I might add), we're still not seeing the strength we need to in
So if you hadn't yet noticed, UNG was halted today on news. ETF Halted = No Yay. Essentially, they can't form new units due to the sheer popularity of the etf-- since it is an open ended etf they can create more shares, but they also have to bring about more exposure via natty futures
It seems that everyone and their mother is now following the head and shoulders pattern forming on the daily chart on SPY. They head over to Investopedia, read a couple paragraphs about this magical pattern, and risk management seems to become an afterthought. Anyways, here's The Pattern: And I'm not discounting the pattern at all.
Pretty slow day for me, I'm babysitting a couple short term positions as well as making sure my theta positive positions remain as such, so what better time to rant then now? I've been meaning to write this post for a while and it will be quite a handy reference when trying to prove people
I'm watching ANR very closely based off this chart: A break of the downtrend line would be a nice, low-risk momentum play, but you'd need to keep an eye on the sector and related stocks for follow through. Even on a long trade, there's still pretty solid evidence of supply at 27.5, so that will
Well let's think about the underlying market structure for a minute. When the VIX was "oversold" last fall, there was an inordinate amount of supply coming onto the market, which lead to the large bars that put volatility through the roof. Also, financial components had much more room to fall than they do now. So