Nice shot from amateur Joshua Zhang
Friday, August 30, 2013
Thursday, August 29, 2013
Wednesday, August 28, 2013
Wednesday afternoon
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| SP-500 Daily Chart (11:05 EDT) |
Tuesday, August 27, 2013
Tuesday evening SPY
SPY 60min
The technical term for this picture is "fugly". It didn't even make a good attempt to recapture 168 - 169 area. There's a little gap support at 163, better support around 160. They may try to hold it up for month end, but I think it's unlikely to go zooming back up .
Tuesday morning
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| Squeeze play - ACT |
The Trade
If you want to nibble right here right now (assuming a flat to up open) that could work just fine. If you start small you can keep a stop under the 50 day and have less 5% downside risk. If the 155 target is reasonable (I think it is.) then the pay off is about 15% for a 3-to-1 reward vs risk ratio. Once the position is started I would look to add on higher prices and above average volume. As the position grows I would tighten the stop a bit to maintain that 5% (or less) risk profile. If the price moves above the upper Bollinger Band this becomes a breakout from a volatility squeeze and y'all have seen that trade before but we can revisit it if we have lurkers who are unfamiliar with the technique.
Monday, August 26, 2013
Monday afternoon
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| Think he's surprised. Shoulda seen Paige. She didn't know him. |
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| FB Daily Chart (10:50 EDT) |
Monday morning
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| 2nd Chance ... SLV Daily Chart |
Friday, August 23, 2013
Thursday, August 22, 2013
Thursday afternoon
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| Rumor is Meg is betting HPQ's future on this new product. |
Thursday morning
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| NTAP Daily Chart |
http://tinyurl.com/k3r94kl
Wednesday, August 21, 2013
Wednesday afternoon ... while waiting on the Fed
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| BV Daily Chart (11:25 EDT) |
While we wait on the Fed minutes take a look at this chart. The stock has been consolidating gains for nearly 3 weeks now and yesterday it bounced as it neared the 50 day simple moving average. If it just grinds sideways the "smoothing mechanism" that Carter Worth spouts about (150 day sma) will cross through the 200 day sma and that will put the stock into the bullish configuration of 20 above 50 above 150 above 200 day moving average.
The price is still near the bottom Bollinger Band and this looks like a good place to start a position. (Start small but be ready to add if price clears the middle Bollinger Band (20 day sma.) You might watch the stochastic for the buy signal. When the fast line crosses the slow line make your entry and put a stop just under the 50 day.
The company reports earnings after market on 9/4.
Bazaarvoice, Inc. provides various social commerce solutions. The company offers its solutions through Bazaarvoice conversations platform, a software as a service platform that enable clients to capture, display, and analyze online word of mouth, including ratings and reviews, questions and answers, stories, recommendations, photos, videos, long-format narratives, and other forms of consumer-generated content. It also provides Bazaarvoice connections solutions, such as BrandVoice, which enables brands to enter into distribution relationships allowing them to display review content on retail Websites within the network; and BrandAnswers that allows brands to interact directly with consumers on retail Websites within the network to answer questions and provide suggestions on alternative products. In addition, the company offers Bazaarvoice analytics solutions, including Intelligence solution that allows clients to derive market, consumer, and product insights from the underlying data collected on their behalf of Bazaarvoice conversations platform; and Workbench Analytics solution, which allows to generate reports highlighting simple ratings trends, text analysis, and product and service issue identification, as well as perform self-service administration. Further, it provides Bazaarvoice media solution that sells advertising on behalf of retailers, brands, and agencies; and provides capabilities that incorporate consumers' authentic opinions in advertising campaigns. Bazaarvoice, Inc. serves clients in the retail, consumer products, travel and leisure, technology, telecommunications, financial services, healthcare, and automotive industries. The company sells its solutions through a direct sales team primarily in the United States, the United Kingdom, Australia, France, Germany, and Sweden. Bazaarvoice, Inc. was founded in 2005 and is headquartered in Austin, Texas. --- Finviz
Tuesday, August 20, 2013
Tuesday afternoon
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| Engagement ring from a galaxy far, far away. |
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| SPY Daily Chart (11:50) |
Monday, August 19, 2013
Friday, August 16, 2013
Thursday, August 15, 2013
Thursday evening
The markets took a pretty good whacking, but there are some positive things, including possible nearby support. Tomorrow is options expiration too. That always provides extra flavor. What to do ? Wish I knew ;-)
- Honor your stops
- Reduce size
- Don't play if you don't like the game
- Wait for high quality setups
- Don't be a hero
- Unless you can be Batman. Always be Batman.
Wednesday, August 14, 2013
Wednesday evening SPY
SPY 60min
I normally just draw horizontal lines for support and resistance, but that one is pretty obvious. It sure looks like a top. There are several gaps below that might want filling.
Wednesday afternoon
The May 22nd intra-day high for the SP-500 was 1687. 18. So far that level is holding today. If it fails we could see 1651 by the end of the week. JMO
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| Click on chart for a better view. |
Tuesday, August 13, 2013
Tuesday afternoon
The Bollinger Bands are getting very tight on the SPY. As I write this they are 1.77% of the 20 day simple moving average. They have not been this tight since April. Back then SPY bounced from the lower band and made a week long move higher. Could happen again.
Monday, August 12, 2013
Monday afternoon
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| It will be slow this afternoon. Several floor traders are taking long lunches at the Kitty Kat Klub. |
