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Quickie turnaround — (BZQ, QLD)

Family emergencies have kept me from posting much, or trading much, or studying much, but this morning with oversold readings flashing, i changed my positions:

I sold my 400 shares of BZQ (short-Brazil) for $25.05. This made a profit of $500 before commissions on this trade.

I then immediately bought 200 shares of QLD, as […]

Quicky short trade — (BZQ)

I’m finally going to give the BZQ trade (double short Brazil a try), hopefully getting it right at support. I bought 400 shares for $23.80. Wish me luck!

Downtrend intact on Monday morning — will we agree in the PM?

The seven week long downtrend in the S&P 500 remains intact even after the Thursday-Friday rallies last week.

Futures are higher prior to the open and there is a possibility that we could take out the trend at the close.

Front and center targets are the 200 day moving average at 1107 and that mid-May […]

A quick bang for the buck

I got a quick bang for the buck by selling 200 QLD at $56.23 when the exit signal — RSI (5) over 50 — was in place.

I also dumped my grand Canyon Education trade at a loss as it just wasn’t working out. I sold 500 LOPE for $23.72.

Updates later!

Touch ’em all — (MFN)

Minefinders (MFN) has now continued it’s pattern of crossing the 50 day moving average on each bounce, as I noted on May 26th.

It didn’t however, make a good short play at $9; gold related stuff proves very tricky to trade!

Fully Invested -- (QLD)

Well, for a short, strange to say I am now fully invested on the long side as my go to trade in QLD fired with a RSI (5) buy signal under 30. I picked up 200 shares at $52.98 just before the close.

Interesting to note that there was no corresponding RSI (2) buy signal […]

Trendline pinpointed the end of the spring rally -- (SPX)

Weekly updates on the state of the latest downtrend have been posted here lately, along with my own warning to tread lightly on bullish trades until the trendline is broken on a close.

The value of this approach to trading is shown by looking back to the end of the spring rally, and using the […]

Look out — Nothing below! — (DO)

Talk about getting kicked while down — Diamond Offshore gets elevated to CNBC’s stock of the day as Gulf spill failure fills the airwaves, and Goldman piles on with a negative analysis.

DO has an RSI(2) of 3.66 as we speak, but I would never buy something with no support whatsoever underneath it on the […]

Test of the 1040 coming today?

Might we see another test of S&P 1040 as early as this morning?

That was about the intra-day lows on May 25th and Feb. 6th; yesterday represented the lowest actual close (at 1050) in quite a while.

Odds of another test are looking good.

Gambling on the stock market — (LVS)

Many think playing the markets is nothing more than a form of gambling; you could choose to push the issue by trading “gaming” stocks such as LVS, which actually has extensive operations and plans in Asia.

Chart-wise, after Monday’s beat-down, we are right in the middle of a wide trading channel, making any move in […]