Bulls Need A Close Above SPX 1100 Today

SGS is LONG (As of close of 8/24/11) 
RTS 200110825 Long Portfolio (Bench Mark)
 
My Long Term Portfolio

I didn't get a chance to update my blog last night.  Today (Tuesday) cash indices are simply reacting to what's going on in the futures.  Big Money is not liquidating long positions, but hedging by selling index future contracts.

SPX closed below 1100 yesterday.  Bulls need a close at or above that key support level today.  Let's see where close today.

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Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.

A Bottom Is Very Likely In Place

SGS is LONG (As of close of 8/24/11) 
RTS 200110825 Long Portfolio (Bench Mark)
 
My Long Term Portfolio

 

A bottom appears to be developing.  The likelihood of SPX breaking through early August lows (around 1100) is very low now.

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Big Money Is Not Selling

SGS is LONG (As of close of 8/24/11) 
RTS 200110825 Long Portfolio (Bench Mark)
 
My Long Term Portfolio

 

Cash indices are pushed up and dragged down dramatically via their future contracts these days, but there is absolutely no sign that Big Money is liquidating his long positions.  So long as Big Money is not unloading, the down side risk for is limited.  Steep sell offs are buying opportunities.

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Downside Risk Is Very Limited

SGS is LONG (As of close of 8/24/11) 
RTS 200110825 Long Portfolio (Bench Mark)
 
My Long Term Portfolio

From my FB page yesterday prior to close:

There is no selling by Big Money today. A few things were panicky sold, but got pick up nicely.  Downside risk is limited imo. This is a buying opportunity.

17 hours ago

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The Rally Very Likely Continues Tomorrow

SGS is LONG (As of close of 8/24/11) 
RTS 200110825 Long Portfolio (Bench Mark)
 
My Long Term Portfolio

Despite today's disappointing close, there is an excellent chance that the rally continues tomorrow.

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Very Impressive Rally Today

SGS is LONG (As of close of 8/24/11) 
RTS 200110825 Long Portfolio (Bench Mark)
 
My Long Term Portfolio

Today's rally was impressive.  I expect it to continue and regain all last week's losses within the next couple of trading days.

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Close Is Everything

SGS is LONG (As of close of 8/24/11) 
RTS 200110825 Long Portfolio (Bench Mark)
 
My Long Term Portfolio

I'm all in long now, 50% in indices and 50% in RTS stocks.

 

 Futures look good, let's see where we close today.

 

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Once Again Cash Indices Are Dragged Down via Their Future Contracts

SGS is LONG (As of close of 8/24/11) 
RTS 200110825 Long Portfolio (Bench Mark)
 
My Long Term Portfolio
I'm buying my 3rd and last buy of RTS stocks at the open today  (Thr)

 

In the last few trading days, there has been no or very little wholesale liquidation by Big Money.   Cash indices are dragged down via their future contracts, creating an excellent buying opportunity.

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Market Looks Good

SGS is LONG (As of close of 8/24/11) 
RTS 200110825 Long Portfolio (Bench Mark)
 
My Long Term Portfolio
Doubled down on RTS stocks on 9/9.  My LT Portfolio is now  invested 50% in index ETF's, 33% in RTS Stocks and 17% in cash.  Still waiting to buy my last buy of RTS stocks.

A very bullish pattern has emerged in the last two trading days where indices close near their HOD after sharp sell offs earlier in the day.  Sell offs are happening on relatively low volume and without participation of major players (i.e. Big Money).  These sell offs are buying opportunities.

I'm away until Sat 5/24.  I'm not going to post everyday.

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Expecting A Sell Off Tomorrow, Possibly A Good Buying Opportunity

SGS is LONG (As of close of 8/24/11) 
RTS 200110825 Long Portfolio (Bench Mark)
 
My Long Term Portfolio
Still waiting to open more long positions

There is a good chance that we see a 1.5% to 2% drop in indices tomorrow.  I think that would be a good place to open more long positions.

I'm taking a couple of weeks off.  I'm not going to post everyday, only as needed.

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SPX Is On Its Way To Test 1210-1215 Resistance Band

SGS is LONG (As of close of 8/24/11) 
RTS 200110825 Long Portfolio (Bench Mark)
 
My Long Term Portfolio
Still waiting to open more long positions

Indices closed at their highs of the day, that's always bullish.  Also, volume picked up as we neared close, another bullish sign

I think there is a good chance tomorrow that we see SPX testing its resistance band between 1210 -1215.  On Friday I expect money to come off the table as we go into the 911 10th anniversary weekend.  Also on Friday indices might sell off hard, specially if Obama disappoints (almost a certainty) in his speech tomorrow night.

My plan is to cover my SPY puts as indices rally early in the day tomorrow.  On Friday if indices are push down hard via their futures, I would do my 2nd buy of 10 RTS stocks.

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SPX Successfully Tested Important Support At 1140

SGS is LONG (As of close of 8/24/11) 
RTS 200110825 Long Portfolio (Bench Mark)

My Long Term Portfolio
I'm 50% in (IWM, QQQ, SPY equal $) and 16% in 10 RTS Stocks
Planning to add more  long positions at SPX 1121

SPX successfully tested its most recent up-trend line.  Today's recovery into the close from earlier sell off was impressive.   With a little bit of help from Europe tonight, indices should recover most of their last week's losses this week.

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It's All About Europe Again. Where Are Their 3 Stooges, Hank, Tim and Ben?

SGS is LONG (As of close of 8/24/11) 
RTS 200110825 Long Portfolio (Bench Mark)

My Long Term Portfolio
I'm 50% in (IWM, QQQ, SPY equal $)
On Friday I bought my first buy of RTS stocks at SPX 1176.

Europe got hit big today, specially European banks who are to lose a great deal of money unless they're made whole by European Governments (more like one government and that's Germany).  The issue with those governments is that they are not as corrupt as ours so socializing big private companies' losses and debt obligations won't be as easy it was when GW, Dick, Hank, Tim  and Ben did it in 2008.

I think what's happening in Europe will be turn out to be bullish for our markets.  Money will leave Europe and find its way to US markets.  Downside risk is very limited and sells offs during this month are buying opportunities.  My plan is to do more buying (RTS stocks) if I see indices sell off better than 2.5% during the day this week.

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SPX To Back Test Symmetric Triangle Price Formation

SGS is LONG (As of close of 8/24/11) 
RTS 200110825 Long Portfolio (Bench Mark)

My Long Term Portfolio
I'm 50% in (IWM, QQQ, SPY equal $)

I have not bought RTS stocks, planning to buy first of three buys tomorrow as SPX trades at lower 1190's.  I'm planning to buy: EXPE  AMZN  NEM  MCD  M  AXP  BMY  PPL  DFS and  KO

 

On 8/29 SPX broke out of a Symmetric Triangle formation (thick blue) and closed above it.  SPX is coming back down to back test that formation at mid 1190's, very likely tomorrow shortly after open.  Chances are excellent for SPX successfully back test the formation and then rally back to challenge its recent high of 1230 sometime next week.

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SPX Very Likey Backtests Its 50D Very Soon

SGS is LONG (As of close of 8/24/11) 
RTS 200110825 Long Portfolio (Bench Mark)

My Long Term Portfolio
I'm 50% in (IWM, QQQ, SPY equal $)
Re-Post (Thr 9/1/11 @ 6:10 PST): I didn't buy 10 RTS Stocks yesterday, but I  think I will today.  Same 10 stocks, except for DFS replacing MOS.

Indices are doing fine. A pull back to SPX 1200 and possibly mid 1190's is very likely.  Good place to open new long positions.

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SPX On Its Way To Backtest Its 50D SMA Around 1250

SGS is LONG (As of close of 8/24/11) 
RTS 200110825 Long Portfolio (Bench Mark)

My Long Term Portfolio
I'm 50% in (IWM, QQQ, SPY equal $)

I'm scaling into MOS  PM  GLD  EXPE  NEM  AMZN  MCD  V  AAPL and  PPL.  First buy of 3 buys shortly after open tomorrow.  I'll post on my FB Wall.

I expect indices to pull back briefly to back test previous resistance levels and then fly higher to back test previous significant support levels.  For SPX a pull back to lower 1190's to upper 1180's is very much in the card (excellent buying opportunity).  After that chances are good that we see SPX move up to back test its  50D SMA around 1250.

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SPX Double Bottom Price Pattern Confirmed

SGS is LONG (As of close of 8/24/11) 
RTS 200110825 Long Portfolio (Bench Mark)

My Long Term Portfolio
I'm 50% in (IWM, QQQ, SPY equal $)

Today SPX closed at its high of the day at 1210 confirming a Double Bottom price pattern.  The objective for that pattern is SPX 1300, but before getting there SPX will surely encounter stiff resistance at 1220 and 1265.

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SPX Is To Test Resistance Band 1200 - 1220

SGS is LONG (As of close of 8/24/11) 
RTS 200110825 Long Portfolio (Bench Mark)

 
My Long Term Portfolio
I'm 50% in (IWM, QQQ, SPY equal $)
I'm planning to scale into 10 RTS stocks soon.  I don't like current RTS top 10 picks.  I'm going to give it a few more days to see what happens.  In the meantime index ETF's are doing well.

Indices are in a good shape and SPX very likely will test the resistance band between 1200 to 1220 this week.  So far so good.

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Indices Look Good

SGS is LONG (As of close of 8/24/11)

RTS 200110825 Long Portfilio (Bench Mark)

(will be updated this weekend)

My Long Term Portfolio
I'm 50% in (IWM, QQQ, SPY equal $)
I'm going to wait a few more days before adding more long positions.

Odds are substantially higher for a move to test recent SPX highs around 1200 to 1220 than a move to test recent SPX lows around 1120 to 1100. Hopefully Uncle Ben won't totally disappoint.

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SGS Is Long

SGS is LONG (As of close of 8/24/11)

RTS is in CASH (Bench Mark)

Today at the RTS opens 10 new long positions in:

EXPE, V, GLD, MCD, NEM, DFS, PM, AXP, PPL and BMY

 

My Long Term Portfolio
I'm 50% in (IWM, QQQ, SPY equal $)
I'm going to wait a few more days before adding more long positions.

Indices look good.  Immediate resistance for SPX are at  1200 and 1220.  A solid and heavy close over 1220 next week confirms a Double Bottom (DB) price pattern with an objective of 1320.

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Side And Gold Money Is Coming In

SGS is Neutral (as of close of 8/9/2011)

RTS is in CASH (Bench Mark)

My Long Term Portfolio
I'm 50% in (IWM, QQQ, SPY equal $)

Although short covering added fuel to today's rally, but it was side and gold money that propelled indices around 4% higher.  Volumes both on NYSE and NASDAQ were high, breadth was fantastic and buying volume accelerated toward the close

Yesterday from 9:00 to 9:30 Jimbo the CNBC clown, per orders from his master Big Money,  ran  his mouth non-stop "recommending" everyone to sell their stocks, "specially their tech stocks", and buy gold.  Somethings never change.

Market looks good for now.  I'm not sure how far we go up, but a test of very recent highs around SPX 1200 - 1210 is very much in the cards.  SGS is still neutral but flashing "Long".

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Bottom Building Is In Progress

SGS is Neutral (as of close of 8/9/2011)

RTS is in CASH (Bench Mark)

My Long Term Portfolio
I'm 50% in (IWM, QQQ, SPY equal $)

Despite indices losing most of their earlier gains into the close, there was hardly any wholesale liquidation of equities.  This signals that a bottom is being formed and chances of major indices moving substantially lower (greater than 5%) is remote. 

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Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.

Downside Risk Is Very Limited (((())))

SGS is Neutral (as of close of 8/9/2011)
RTS is in CASH (Bench Mark)

My Long Term Portfolio
I'm 50% in (IWM, QQQ, SPY equal $)

On Friday SPX tested its support around 1120.  Numerous divergence by indicators, breadth data and the number of new lows, at least for now, signal that we had a successful retest of recent lows.   Although one cannot rule out more selling next week, but the downside risk at this point is very very limited.

This is an excellent opportunity to open new long positions, imo.  I'm 50% long in indices now.  As soon as SGS goes long, my plan is to open more long positions in RTS stocks.

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Indices Are Drag Down To Create Fear And Panic

SGS is Neutral (as of close of 8/9/2011)
RTS is in CASH (Bench Mark)

My Long Term Portfolio
I'm 50% in (IWM, QQQ, SPY equal $)

Cash indices were dragged down by heavy selling of their future contracts.  It seems Big Money is trying hard to bring about a capitulation, maybe as early as tomorrow.

Tomorrow, SPX could sell off to test supports at 1120 (which very likely holds) and 1100.  If 1120 gives, selling momentum very likely would push SPX below 1100 to trade in upper 1080's to lower 1090's for a very short period.  A fantastic place to sell out of money SPY September puts.

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Is It Late 2008 In Europe?

SGS is Neutral (as of close of 8/9/2011)
RTS is in CASH (Bench Mark)

My Long Term Portfolio

I'm planning to buy indices at SPX 1171 or lower (another 1/6). 

 

It does seem like late that it's late 2008 in Europe.  I don't think Europeans could or would deal with their issues (i.e. bank losses) because they have no "Mr. Risk"  running around with a one pager asking for $700 B "RIGHT NOW".  I do see , however,  a scenario under which Uncle Ben comes to rescue European banks indirectly (via Big Money).  They might even call it QE-III.

Futures are significantly down as of this writing.  It would be interesting to see if Big Money buys into this dip or piles into selling and liquidate long positions.  My guess is indices are driven down via their future contracts and Big Money will buy the dip today. 

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Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.