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IWO Into the Close, 10-5
Textbook Flag Pattern in SMH
Lot of things running today, it’s part of the holy-crap-why-didn’t-I-buy-on-the-dip momentum. Here’s a textbook flag pattern occurring in SMH, let’s see how it resolves today: Update: so much for the pattern, failed so no trade there. Disclosure: short SMH call spreads
Oil, Volatility, and Correlations
Thought I’d focus in on a single asset class to show you exactly what I’m thinking when I’m analyzing equities, commodities, and options. A little quick macro: generally, oil is thought of to be an indicator of global growth and reflation. It also is correlated to dollar weakness and liquidity into risk assets. Those factors […]
Our Treasury Trade
{+++} Been waiting for this trade, I think now’s the right time to execute it. TLT Trade Rationale: Probably hit the low for the year at 87, nice rally up to the declining 200DMA. I’m bearish, but there’s a possibility we can rally back into the range seen from Jan – Mar. Trade Strategy: SELL […]
The Pattern I’m Watching Out for on the Markets
{+++} This pattern isn’t TA 101, but it’s derived from my own studies of the market. It’s a topping pattern, and it has the potential of developing on the equity indices here soon. First, some examples: GOOG (2007) DJI (1930) MS (Last week, shorter term) SMH (2007) So the pattern follows a strong rise, a […]