ANOTHER GOOD DAY FOR THE EKGSince march 9th ---41/60 = now at 68%
Activity index showed us A LOW ENERGY DAY
FED spike- no big deal- I dont even know what was announced- and dont care.
Negative thinking does NOT seem to relate to a negative open as previously postulated.10am new homes sales "SHOULD" correspond with a TURN @ the 13HR cycle
there is ALSO a moderate high energy hit at 11:05am
BUT 258bars at noon should set the day back into a low at that time
the afternoon should respond in a positive manner to the FED no matter what they report
as the day has high positive energy effects at 3pm & 6pm
Oil is moderately lower showing mild weakness , but the futures are mildly positive at 8:30am
more later
Jay
FYI
ReplyDeletethe BACKGROUND vertical lines
on the EKG mean NOTHING
Jay
Dow jones trading close to an important support zone
ReplyDeletehttp://niftychartsandpatterns.blogspot.com/2010/06/dow-jones-technical-analysis.html
great stuff jay
ReplyDeleteI would have dumped my tza monday open if it weren't for you,as is,I just did at a VERY nice b-day present from yesterday!
'
now, since fri 2-4 SHOULD be a low,will this minor run (as rrman says a weak attempt maybe back to 1100-1110)should I enter tza before close as a high,or do you see a high early thursday per weekly graph?
you da man
francois
ReplyDeleteDont fall in love with your analyst
GG
I do make mistakes
altho less often recently
Today so far is running PERFECTLY
on the EKG
Small up open
HIGH at 10am
THAT 13hour CYCLE@ 10am Sure has MERIT
11am energy boost, some what
coming near to noon @ 258bars
After they can go to sleep till 2;15pm
If I weren't holding my shorts
I would look to short today's close, especially if they dont get back to 1100
Either way, IMO< I would not wait for tomrrow, unless you can trade at midnite in futures tonight.
Jay
FYI
ReplyDeleteTZA, TYP, Energy and other related
3x bear direxions are
going to REVERSE SPLIT
5 to 1
on July8th.
Jay
Closed my TZA calls at a 20% profit - could have closed at 30% if I had followed Jay's low cycle :)
ReplyDeleteWill look to enter at EOD ...
Dear Jay,
ReplyDeleteI have a modest proposal if you don't mind. It would be really convenient if you would make a post in the thread when you make a new post on the blog (something like "NEW POST" - so we would then jump to new thread and not stay in this discussion while there is a new one going on. Thanks!
Also I would propose that everyone keep an eye on TLT. If it breaks 100 and closes above - the most bearish predictions might come true
sirigyan
ReplyDeleteOK
will do
TLT has the LOOK
ReplyDeleteof an UPSIDE break away
Jay
Thank you, Sir. Well TLT has not break out yet. But when it will... Oh my God
ReplyDeleteAS
ReplyDeleteis the BETA better on TZA calls
OR
TNA puts??
and how will the 5/1 reverse split
on tza effect that beta
Thanks
Jay
Russell 2000 hourly chart got support from a dragon fly doji
ReplyDeletehttp://niftychartsandpatterns.blogspot.com/2010/06/dragonfly-doji-in-russell-2000-hour.html
Jay - I buy it based on price of options as I have smaller account. Howver TNA puts will give better movement as the moves will be larger ...
ReplyDeleteSplits usually change the strike price ... accordingly for the options ... but not 100% sure how it will work if you have few options not the even number for the split ..
ReplyDeleteeg if you have 5 TZA 7 calls then it will be 1 TZA 35 call ... but if you have 2-3 only then you may be forced to sell ...
I have a feeling they might headfake us higher today and pull the rug tomorrow.
ReplyDeleteJay - still looking for rise into EOD - is the activity index showing that still ?
ReplyDeletei don't trust it, i remain short . have the feeling a meltdown move is coming and would be shitty to sit on the sidelines
ReplyDeleteI think sweeping done
ReplyDeleteDow Jones came down from a triangle
ReplyDeletehttp://niftychartsandpatterns.blogspot.com/2010/06/dow-jones-triangle-break-down.html
Reza,
ReplyDeleteCan you tell me what you mean by "sweeping done"?
Thanks!
beware eur/usd huge rally....s+p should follow into the close
ReplyDeleteRe the Euro
ReplyDeleteIt also looks very bullish to the 1.307 area. A little overbought short term but should start to rally hard in a day or two which would fit a rally in the majors for July.
KC
Jay, I don't think I can say thank you enough for your guidance!
ReplyDeleteWhen could we get a preview of next week/early July?
As discussed, I'm thinking about closing all my shorts near market close on Friday as you've suggested.
I'm curious if I should scale into any weekend positions long/short. Or alternatively, wait for the Bradley Turn spike and then re-short.
Thank you!
I meant take out the bear stops
ReplyDeleteJUFU
ReplyDeleteYou confused me a bit
I will be CLOSING OUT SHORTS
on the 25th at or near close
and BUYING LONg at or near close
ALSO on the 25th
Monday the 28th should be quite a bullish show
Jay
Sorry for the confusion.
ReplyDeleteYour answer is what I was looking for. Thanks!
How long do you think this bull move will last?
I'm debating on buying front month calls on SPY. There are some that expire June 30 and then the next expiry is July. If I hold it for just the weekend, potentially June 30s could be quite lucrative, but also very very risky.
The rally on Monday will be only good for Mnday
ReplyDeleteTues & wed should offer some sloppy tradings and setbacks
THE HIGH should come on JULY 22/23,
Jay
Bought Aug TZA 7 call @ 1.14 ... for holding into Fridya
ReplyDeleteno longer doing july call due to theta decay ...
ReplyDeleteJUFU - one piece of advice - always try to keep time on your options on your side ...
ReplyDeleteThis is why I bought the aug 7 call vs the july 7 call on TZA ... i could buy only half of what I could have bought of july calls ... but still better ..
Trust me - have learned this the hard way ..
SEE NEW POST & THREAD
ReplyDeleteEKG tomrrow Am
Jay