Market view

Well - as I said yesterday it looked pretty bearish - and today we got a gap down and just moved down. I have been saying this year that sell in may and go away was a good idea and that the summer 2010 will be pretty ugly. Until now these ones have been true. I still think we have more downside left and I really think we are not going to have any big rallies before near august/october, but we are traders and there will be small rallies. Everything looks pretty bearish now on all indicators only 5 min chart telling a little pop or gap up may come and then further selling. I took some short positions yesterday opening and sold some near close - I am in a lot of cash at the moment, only holding a few stocks. I am still very bearish longer term this markets and I think its much safer to be short than long. But again we are traders and its a "trader market", so for now staying cash until I see some better positive divergences I think we are going to see 950-960 level over next weeks and dont think july will be much better. If you go long - take the profits if you have them (no matter if its 1-5%) its still a bit and in this markets its better to take profits fast. We are NOT in a bull market and we turned into a bear market again as the MA(50) crossing the MA(200) very soon, which could lead do more downside.

Have a nice day and take care !

Market view

Well it looks pretty ugly I must say - we were not able to bounce back up fast after the move down. This indicates for me that we will go further down - I will probably be taken some shorts again as I think we could be able to go below our neckline soon and test 950 level in the late summer.

But if we gap down - we could have a snap bounce to the channel down trendline at near 1080-1090 level and then plunge down further.

I will be looking to enter lots of shorts if we get a bounce - right now I just try stay cash and sell my long positions with very small loss from last days entry.

Markets dosent look healthy and I overall expect now a plunge where we could be headed to 900-950 level over next months. Then we might get a nice rally in september/october.

Well for now I think its best just to stay cash and shorts - dont think we are able to see any good rallies at the moment.

Weekend outlook

Well we had a week were we had been moving down a lot in like 5 days in a row. When SPX was near 1130 I was shorting the pop with FAZ from 13.65 and sold last at 15.85 lately. My target for the pullback was 1076 level and MA(20) but right now we are under MA(20) which is not a good sign , but we are still around the fib 61% retracement from the highs.Right now I took some long positions at least for the short term, the question is only how high we will go now. Its hard to say and no one can forecast where we will go perfectly, but the charts suggest that if you look at the TNA it looks like some kind of inverse HS pattern, if this is true then we are going to have a major rally and most likely have SPX to above 1130 and around 1150. The levels I am watching close to is 1100 and 1130 level, if we CANT take out these levels very soon, I am going to load the boat with shorts, cause I think this is the LAST bullish move up we are getting before a big plunge in the markets. Yes, as I have been saying I am long term bearish in the markets and think we will go way lower, but right now looks like we got a rally up from 1040 level to 1130 level, then a pullback to 1070 level (that made us a higher low in the daily chart) and then I hope we can rally up to 1150 to make the right shoulder on the daily chart. Why I think we are not finnished rally is also because on weekly summation index is shows us that we just began our rally up and there is more left, also AROON oscillator telling us a buy signal from thursday which is positive. But again if this wont play out , the inverse HS pattern and we dont break 1100 or 1130 which I am looking at now - and it need to be very soon early next week ( hope we break above MA(20) early next week and then further up, then we could rally more. But dont bet the farm here on the long side, I think we are going to test much lower levels, but lets see. Early next week will tell us where we are going, but I am looking for a strong reversal, also if we look at daily chart we made a doji reversal candle which will be confirmed IF we close strong and green monday(bullish) , if not bearish. Summary : I think we are able to go higher , watch 1100 level and 1130 and if we break these 1150 should come, if not load the boat with shorts and ride the markets down. Have a nice weekend

Market view

Well again - we got our pullback from 1130 level in SPX and have been sliding down. My target was 1076 on the SPX and we closed a bit below that level. Its hard to say right now - I really want a nice reversal today and I think it might happend. Look at the charts and you see the bullish divergence (triple divergrence strong signal) and falling wedge. Aroon oscillator gave us buy signal yesterday which is very bullish so watch out - if we get a reversal it may be a very strong rally. I still hope we are making a higher low on the indexes and hope for a rally today - if not latest monday next week. If we look at the VIX it backtested the breakdown of the HS pattern which was successfull yesterday - so a reversal in the VIX should happend from here. I was expecting the VIX to reach 30 and backtest the line and then move back down. So yes I am still bullish and think this was the pullback and we are getting ready for next leg up, a lot of bears are talking so much at the moment I think they may be sqwiiized, but again would like a gap down and then rally. Have a nice day

Market view

Well again I knew this pullback was comming and my recent target was 1080-1090 on the SPX where we also have MA(20) as support. But what we are seeing here is we are near some support, but I think we still may go lower today, but then bottom arrived. Why I think so? There is many indications showing that this is just a pullback. First of all if we look at the Dow Jones Index it hasnt even reached the MA(20), so that is what I am looking for(the exact number is 10189) so watch for around this level, then the markets should hold up here. So the downside is VERY limited here and I took a lot profits on shorts from the top on SPX 1130 level. What we saw is that the DJI was touching the Ma(50) recently and then made a pullback, so what I am watching for now is DJI to touch MA(20) and then rally back up. I have been loading some shares and will load more when DJI touch that ma(20) - sometimes today or tomorrow. On weekly charts we have still a bullish momentum going on from bottom and that also tells me why we have more upside - also its natural to get a little pullback when markets rally so fast up. on SPX looking for 61.1% retracement around 1076 area. Lets see - might be today , get ready with your ammo

Market view

As called 2 days ago the top around 1130 in SPX was a nice short and I still have a bit shorts left but took a lot profits. Again I called the bottom from rally 7-8th june perfect and we got a nice rally, but it went TOO fast up, and then a pullback MUST come. Now just because markets been falling 2 days in a row people think we crash and I dont think so. I think its a healthy pullback and my target for the pullback have always been 1090 on SPX. So IF we get around there (the MA20) on indexes I think these ones acts as strong support, and we also have a 50% fibonacci retracement at 1087 on SPX. So lots of support in this area and I dont think we will move below this, but then get another rally to higher highs. So I am a BUYER at this area, then all suckers who bought the top, bad for them..I knew this pullback would come and I am going to buy now when everyone thinks we crash and burn. I would like to see a little more downside, but ultimately scale into long positions. IF and only IF 1086-1090 gets taken out by heavy volume and we move past 1070 I take all my longs off the plate fast and move all cash, but I dont think we will move below 1070.
Hope you enjoy reading my blog - be ahead of the markets once again. Have a nice day

Market view

Well no surprise that we got a nice pullback yesterday as predicted. Thats why I always take profits in such squuezes that we had. I actually got in some FAZ 13.65 and going to take some profits soon.

I believe that this is a pullback to around 1080-1090 level still , but lets see if the channel up at 1095 as seen on 15 min chart is holding. If 1095 is holding well I might add to some stocks, if not watch for a bit lower 1080-1090 level which should hold before we are going higher. Remember I am very bearish for the long term as I think we will go way lower, but short term we might get the little pullback and then move up higher. IF and only IF these supports dont hold, get the hell out and into shorts as we might go further down. Remember no one can predict the market , but its all about probabilities. Again the Yuan news we got is actually BAD for US, as it results that China wont buy US debt and who the hell are going to buy all that debt? No one, this is setting up really bad for the economy.

Hope you enjoy my blog

Market view

Well markets again in a very small trading range. I still think we are going to have a pullback over the very short term and then make a higher low from the lows early june.
We might gap up monday before going further down, but very short term I dont think we are able to go much higher. I am expecting a move to SPX 1080-1090 still before going to buy the dip, as we might get higher into early july. But on the longer term I am heavy bearish and think markets will go way lower. I called the top and told people to sell in may and go away was good this year. I still think the summer will get ugly so if we are not going to bounce or have support at 1080-1090 level I think we will bleed further down. I think we entered a bear market now and will make lower highs. But my count very short term is a little pullback before going higher.
Hope you enjoy reading my blog! Have a nice weekend.

Market view

Nothing new really, we did close neutral , but I think momentum is shifting and option expiration is today. So either we are going to have a little upside move, but ultimately I am looking for a short term pullback before moving higher.

Target for pullback is near MA(20) or 1080-1090 on SPX, so watch for that levle

Market view

Well markets has been mostly flat yesterday and I think we have a short term top still. I also still think that we are going to have a little pullback to around 1080-1090 level in SPX , before moving higher, watch this. Until then I am not going to heavy add on stocks, but already took a lot profits. Its about to get greed when there is fear and when there is greed , be fear...right now lots of people lately going bullish, I am bearish for a little pullback, but short term bullish and still think we are able to go to around 1150 on SPX.
But first of all we need a pullback, and that should come next days, before moving higher again. You can see the negative divergence on the chart and we broke down of the rising wedge and backtested the breakdown. So I am looking for a pullback now.

Market view

Here is the new update and market view looking forward.

We had an amazing week, from calling the bottom in euro and markets 8-9 june been bullish, now up a lot and made nice profits.

I am STILL bullish very short term, but I think we are getting a pullback cause I see a negative divergence short term. But when we get the pullback I am going to buy the pullback and I am looking for buying around 1080-1090 level for next leg up. Remember to take profits when they are here , I will buy back a bit lower short term but target still reamins near 1150 in SPX in june.

We had lots of nice big winners like VG, NLST, BGP, ABIO, CHIO and others over 10-50% , remember to take the profits.

Right now still bullish but think we are going to have a pullback to around 1080-1090 where I will buy back long positions.

Hope you still enjoy reading my blog

Market view

As stated I am still bullish the markets for the very short term.

Charts indicating that we ran up a lot in the short term and MIGHT have a pullback, but the pullback should only make a higher low and would be new opportunity to buy. IF not a pullback its "buy" the breakout, as I think short term we are able to move higher.

The level to watch IF we get pullback is 1075 on SPX which should act as strong support. Upside remains still near 1150 in SPX, so still think we might go higher over the short run.
Still think the euro will run higher short term too, called the bottom 1.19 and looking for more.

Weekend update

Today was an amazing day for me , got big profits in NLST and I am still holding all over the weekend !

I alerted on thelion with entry $1.96 where I loaded up heavy, it reminds me of DEAR before it was a multibagger and I think NLST is just beginning, lets see next week , hope for 3-4 dollar per share.

As for the markets I was ahead again with statement 8. july that we would have upside and until then we have seen 3-4% upside in indexes. I still think we have more upside left as we broke out of downtrend late day.

Also been saying euro bottomed and looking for more upside in the euro, got long euro $1.19EUR/USD and looking for more upside.

Overall looks like dollar going to have a pullback as euro going up short term, that would help overall markets going up. I still think the big resistance we have is SPX 1105 level, IF we break this its very bullish and we might go to 1150. If not we could se more downside, but I favour the bullish side short term. My longer term view is still VERY bearish though.

New positions I took today was COIN and NLST ( NLST 1.96 and COIN 0.8 )

TIXC up from entry 1.16 now 1.29, looking for more upside here.

Hope you enjoy my new blog !

Best regards

Christopher

Market view

As I think we made a short term bottom here, I am looking for more upside to the bullish side.

We confirmed the inverse HS pattern and we could make the right shoulder on the big HS pattern in all indexes. Markets giving positive buy signals on all technical charts, MACD turned positive and stochastics going positive.

The odds for more upside in next days, is here, but a little pullback could come before running higher. But overall odds seems to be going to the positive side. Look for the break above 1110 in SPX, this will be hard, but IF this breaks, that is a strong bullish signal.

I am still long in the shares stated below, and I think small caps will turn to the upside.

BGP was a big winner from call yesterday, up 25%, but looking for more.

Market view

Still looks like we are going to make the right shoulder, short term still bullish. We may get a little dip to the lower trendline in the channel up though.

I will try update daily with charts and my positions

Welcome Update and stock market view

Welcome to the start of my blog.

This blog is for some educational view and stock picks.

Right now as the markets looks like , we had nearly 1 month we lots of selling pressure. As I think we are going to have a very short term rally up before going further down.

Currently positions is: TIXC, LNG, YMI, CYCC , AEN and BGP