Market view

Markets did ANOTHER nice rally - and also with the very short term overbought levels , kept going higher and higher.

My TNA swing position from 68.8 closed near 80 and is up more than 10$ per share and if you follow me on twitter I booked 50% of the profits from 68.8$ -> 80$ in TNA as I think we are getting very close to a short term top as I've called.

Remember I got long calling for a rally to MA(50) at 1320-1330 (at the time when we were trading at 1260) , but as the days has come by - the MA(50) sits at 1316 level.

Honestly I think we could test this level at 1316 today and if we really want the last big rally on the LAST POMO day (Thursday - no more POMO after this.....) then we could make the backtest of 1320-1330 still.

All in all - my plan if we run higher on Thursday is to book the profits in TNA from 68.8 and hopefully take them near 80-82 area.

Yesterday I got a starter position in TZA (very small one) at 35.55 - this is the first little position I started buying - but I will be adding with SIZE position to this probably if we reach 34-35 level for a swing play sometimes on Thursday. Remember to follow me on twitter again if you want live updates - both on good small caps , market movements and everything.

Markets has been doing pretty much as called since 1260 where I called for a rally above 1300 - and yesterday we got the move above 1300.

So what I found VERY interesting yesterday - was SPX up 0.83% RUT up 0.32%. Uh oh... as I have been telling MANY times before - this is a BEARISH signal , as the Russels and small caps are leading markets up and down. Wednesday were the FIRST day and FIRST signal since I called for a bottom mid June that I think a short term top is near as the small caps is lagging to move a lot higher.

Looking at TZA 30 min chart I have a bullish MACD divergence in place - perfectly for a bottom and a negative one on TNA , telling me its time to begin switching from being BULL to BEAR again. Sentiment after last weeks has been changed very much - which I just LOVE to see - as everyone I saw called for a big move down when we traded at 1260 and everyone were scared to buy - I was a buyer. Right now people are feeling better to get into markets again and some are thinking we go to new highs next.

So what is to come next? I dont know.... really no one knows - but I will give you a direction where I think we will go... and as I see it right now I think we will take out MA(200) this time and flush below 1250 and move further down very fast... so I think a big plunge is to come soon.

As I've had a target before QQQ is getting close to my 57+ level where my pattern target suggested this would move. QQQ closed at 56.3 so a last sqwiize higher will make it.

Conclusion: All in all - I think we are near a short term top - I've begun from yesterday taking the profits from my swing trade TNA 68.8 50% and will sell rest of 50% sometimes Thursday and begin to move into the opposite TZA in a size position for a swing trade. This is my plan - if markets goes red Thursday and confirm on daily chart I will take profits and get into TZA - if markets rallies big I will take profits on TNA on higher levels and move into TZA lower, so all in all - we had a very nice rally from MA(200) which has been tested twice now - we are going to test MA(50) next imo and then 3rd time is a charm - we will plunge below MA(200) next from here all IMO.......

Hope you enjoy my blog , EVERYTHING here is for free , use a lot of time doing this - I post my trades and do analysis on them - you dont get this ANYWHERE better for free imo - hope you will take time to review my site on investimonials or share to others you know off.

Have a nice day

Market view

Markets did rally ANOTHER day very strong as widely expected last week and we are getting near 1300 level which I have been looking for. QQQ and Russels already a lot stronger than SPX - so if SPX will follow those - SPX going to break 1300 and move further up , which I think we probably will test 1320-1330 still sometimes this week..

But ONLY thing which worries me very short term - markets up huge lately without a pullback , 30 min and 60 min overbought a lot , so a pullback could be expected - but I would not try to play it as we can stay overbought and just rip higher above 1300 on Wednesday - but just wanna tell you that you should take in mind we are very overbought short term.

I bought the dip at 1264 on a gap down last week which worked out perfectly from right shoulder in a inverted HS pattern. Target on QQQ is 57+ and right now we are at 56... pretty close I must say.

SPX target is 1330 area on pattern IF we break 1300 near term.. so watch that level closely - SPX is right below big resistance area and as I said - if we follow Russels and QQQ we should break is shortly.

So what do I think right now?

Its end of month and I think we have window dressings going on + we have Independence day weekend , so by statistics its usually very bullish and I think they will try to end the week in big green , which they are doing well so far. I think there is a good possibility we just may rip higher into weekend or late this week. What I will be watching as I've said many times before is Russels versus SPX and QQQ. When markets gapped down last week people feared again that markets would go down - I bought the dip cause I also saw russel a lot stronger than overall indexes which is BULLISH....so when Russell is up only 0.3% one day and SPX is up near 1% - thats a time I think we are going to have a short term top as small caps is lagging to run higher. This shows me that we are about to turn around as I think small caps will lead us lower again.

I'm still holding all my TNA from 68.8 which is 78.88 in a size position. Again up 10$ PER SHARE with big profits here.... you could take the profits and run now I'm waiting out to see confirmation as I think it will go higher ! Last time we rode TZA up over 10$ per share and now opposite working out so well so far. Overall still bullish and looking for more upside this week. I dont think there is a lot of places and blogs where they actually POST their trades and stand by them - this is all for free and doing a lot of time doing this , so I hope you enjoy reading this blog. If you do I would at least ask if you can take time to do some reviews on possible investimonials or other sites - thank you :-)

But again as I am up near 10$ per share on my size position in TNA , if we get a push higher near term I will probably take some profits out and slowly scoop into TZA. I will be watching TZA right at trendline support at 34.5 to get a starter position which I think may be a good idea if it holds, so watch TZA 34.5 if we hit this line. If we do hit it and bounce hard from there a possibility I will take all profits from TNA which will be up more than 10$ per share then and then move some into TZA, but follow me on twitter to get live updates.

At last I wanna share a stock pick I think could do very well - I've mentioned it before and I still think its cheap , GMXR. If you look it looks quite good here at 4.3's I'm long here for a longer term hold for 1 year or so - if it breaks the downtrend from the highs when it was trading at 80$ it could run fast up to 10+ and above. The company has a lot of good things going on near future and 2nd half 2011. So I wont be surprised to see this one double or tripple in time... Just a good pick for your pension or longer term account imo , my favourite personally... Its made a long term base in 4-6$ over the last 6 months and after a long term base a breakout will make a good new trend up to above 10+ imo. Fair value is around 12+ imo , but you really need patience with 6-12 months imo.
Have a nice day

Market view

Markets did rally nicely here on Monday as expected over the weekend. The QQQ made its right shoulder seems like and did a very nice move up above the neckline and closed back to a re-test of it at close. AAPL as I charted too made a good move too near 332-333 neckline and if breaking that , target is 345 this week.

I'm still expecting higher levels to 1320-1330 range sometimes this week, so hopefully we get follow throught to the upside.

If I'm reading this right objective - then the backtest on QQQ neckline should be followed with another rally Tuesday - but as the 30 min charts are overbought short term - it favours a pullback or some downside soon. But again - markets can stay overbought for longer time , so would not be surprised to see another rally. I also need SPX to take out above 1300 very soon this week - so hopefully we are going higher. My TNA which I added below 70 last week have already amazing gains as it is back up to 75ish area , still holding my major position from 68.8 in good profits now - but I would be looking for some more this week.

Its hard to find a good read on euro , but I would expect a bit higher on euro to help markets moving higher - possible a short term solution on Greece - and short term relief rally. Markets been very choppy - sentiment is still very bearish , but sentiment could be more bearish than now too..

Conslusion is: I remain long TNA 68.8 and small cap stocks - looking for 1320-1330 - QQQ 57+ sometimes this week. For Tuesday hope for a follow through to the upside - but markets overbought short term.

Have a nice day and remember to follow me on twitter.

Got long REDF - RITT and SIFY Monday few small cap stocks.

Market view

There is not much to say from the past posts as I still believe a major rally should be underway. What is concerning is that we might have a HS topping pattern on 2 day chart on SPX - which says we have some downside monday (and if we get a lot more downside , we will maybe head below MA(200) and further down.

But overall I believe its about to buy the dips still - and we should have more upside next week. If markets tells me otherwise and plunge below recent lows 1258 I would exit my long positions and go to cash - but what the markets looked to me were some kind of consolidation - we drifted slowly down - nothing big and 30 min charts got oversold.

QQQ looks prettiest with the inverted HS pattern and where we closed was the right shoulder. So IF and only IF this is a reliable pattern - then we are going to see a MASSIVE rally early next week.

If it fails - then it fails and we will probably head lower - but if you take look at RUT (small caps) they are WAY stronger than other indexes. Russels only down -0.6% with SPX -1.17% and QQQ -1.73%.

This tells me that this dip is a buying opportunity and higher levels should come. If Russels were leading down with -2% I would be very concerned , but for now looks good.

If we take a look at AAPL it looks nearly perfect in symmetry - with good support 325 , getting oversold now and ready to rally big next week to a pattern target of 345 - lets see , but this also indicate a big rally to come in markets.

I remain heavy long TNA 68.8 and other small caps (TNA 73-74) now so already in profits but I would like a lot more next week.

Time will tell , but I remain long markets over weekend.

Have a nice weekend and enjoy

Market view

Markets did a huge gap down - actually a bit more than I were expecting - but all in all - we got down to some support and on SPX and SPY formed perfect a right shoulder in a inverted HS pattern - people began to call for a crash and I felt a lot of fear in the markets early yesterday. I actually added to my TNA position below 70 and got off for the day- I am still holding a size position in TNA 68.8.

I said on twitter yesterday that the dip we got yesterday were an AMAZING buying opportunity - cause I think we would rally from there to above 1300 and possible see 1330 next week - I still believe this and I think we could get a very green day Friday to end this week great.

I am just telling you that AAPL bottomed 310 as I called on twitter and target for inverted HS pattern on AAPL is 345 where I would sell everything if I were long.

QQQ has an AMAZING inverted hs pattern too and I think we will have a massive rally to come now - my target for QQQ is 57+ by early next week and QQQ is currently 55.34. Added to long positions at 1264-1265 yesterday morning and if the pattern plays out on SPX we are going to see 1335 target next week - which is a lot higher than here - thats what I am looking for.

So I were expecting this pullback - but not as "deep" as it went yesterday , but it was a real good washout from many longs who got scared out - but an amazing reversal into close and nasdaq actually closed green.

Conclusion is you have to stay long buy the dips and markets should breakout above 1295 this time and rally a lot further to sqwiiize some more shorts. What I like now is that I have a pattern I can base this upside target on and that is 1335 and 57+ on QQQ.

Have a nice day and good weekend to everyone

Market view

As widely expected - markets got a pullback and closed in RED wednesday which were no surprise as we were working off some very OVERBOUGHT short term levels.

Remember - markets been up 4 days in a row and healthy with a pullback. Over the last 4 days markets has broken some IMPORTANT resistances - and USUALLY when you break a resistance... markets come back and BACKTEST the resistance which acts as SUPPORT then. So what we saw yesterday were a POSSIBLE backtest of a broken trendline as you can see on the Dow jones chart - SPX chart where we have a possible backtest.

On QQQ we have a possible amazing looking inverted HS pattern forming - which means it wants a gap down to 54.5 level or so before a MAJOR rally underway by end of this week or early next week.

So for now its all about buying the dips - I am holding ALL my TNA shares from 68.8 entry and looking for more upside after this little pullback. My personal feeling is that we get a little minor pullback or gap down today - and after that we should stabilize and then by end of day we should begin a major rally which will take SPX above 1300 level by either tomorrow or early next week. Upside target is still in the 1320-1330 range and we might even possible go further up - who knows.

Everything has been playing out so well over the last months so thats working out pretty well - so QQQ telling me a minor gap down to form right shoulder - but dow jones and SPX seems like a backtest and then we might just gap up and run today - but as the 30 min charts is still not oversold I favour a little gap down and then buy this dip before we get the largest rally - above 1300 and to 1320-1330 near term.

As you have seen over the last 1-2 days small caps has been on fire , lots of stocks is going nicely now up 20-30-40% this is the time to play small caps - so find the best ones as you might make a pretty good profit - or follow me on twitter I will post my trades on small caps too.

Have a nice day

Market view

Markets did a very nice rally yesterday - opening up with a little gap up above a resistance and then running all day long - what a amazing rally ! Markets did kind of exactly what I called on Friday and Monday. Remember I wrote - I were expecting a very nice rally to begin early this week (Monday - Tuesday ) and until now it played out fantastic.

I remain long TNA size position at 68.8$ and currently is 75.75 - very nice gains in just a few days. Its a swing trade and I think there is more upside left- so I am holding everything.

What I think now - is there is a very good chance we get a pullback today after markets up this huge in just a few days - I would be looking for a minor little pullback as we are overbought on the short timeframe - but the pullback is a BUYING opportunity imho before we head up higher.

As called 1st target for markets was 1290-1300 - we ended 1295 before pullback. Then I expect a pullback to come and after this I think we see 1320-1330 sometimes next week.

Overall remain bullish nothing new for the short term - this rally has more in it than most people think and my target is 1320-1330 SPX area - I would not be surprised if it rallies further - just to screw out lots of shorts...

But remember - there is also the possibility that markets just keeps grinding higher 0.2-0.5% as we have seen before for many days - without a pullback - I have seen it before and its possible again - thats why I wont be selling at the moment my current positions.

So conclusion is to remain long - possible a pullback to backtest a broken resistance and then further up.

Hope you enjoy my blog - everything for FREE and spending lots of time doing this everyday.

Market view

Overall markets did run higher as widely expected - markets went up around 0.5% by avareage and my long poistions working out pretty good. I would say though - that the move up is not strong , but just slowly grinding up for now. But I think we could get a strong move up with good volume very soon - as most people think this is a head fake rally and we go down again any day now. I think we are setting up for a big rally into backtesting broken trendline at 1320-1330 area still...

FOMC meeting today + confidence vote in Greece - could be a day where some nice actions happends.

All my indexes is still on a big buy signal on daily charts and remains so. TNA holding size position from 68.8 which is now 71ish already in profits. I am expecting a follow through to the upside on Tuesday as I said friday last week an early rally monday/tuesday and hope for another move up today.

After a move I would expect a minor pullback before moving higher later this week or next week.

The short term target is 1290-1300 range - then a possible pullback before we head up above 1300 and reach 1320-1330. Actually markets reminds me a lot of 2007 top - VERY similar - if we are playing out that , then we have a good short term rally to come and then a nasty drop afterwards.

QQQ is getting so close for a breakout over resistance + I think AAPL bottomed yesterday at 310 with a red hammer formation.

So overall - yes we might get a pullback - I really dont think we get a big plunge right now , but a little pullback should be in place soon before we head up higher. So I remain bullish since late last week and holding my long positions.

I've made a chart from my previous long/short calls.

All indexes oversold and ready to go seems like to me - what worries me is - that I dont see much "good news" out there - but overall seems like sentiment is so bearish so any neutral news or some "hope" news may kick start us big time.

So for now SPX target still in the 1320-1330 range - a move up tuesday with a pullback mid this week for then another rally late this week and next week might be in the cards. But again who knows if we wont move a lot higher and probably make new highs ?? I think no ones out there believe that we will make new highs or not many - when looking at the FTSE weekly chart we hit that trendline Ive made perfect , and seems like bouncing nicely from it ... lets see if its a launch pad for higher levels - sentiment is still extreme bearish and put/call ratio indicates a bottom is in place at least.

I think when QQQ is going to break resistance - that would help overall markets a lot to gain strength - as they have been weak - but yesterday seemed to bottom.

Market view

Markets did gap up nicely on Friday - but then consolidated a bit with a little minor pullback. I'm still heavy long markets right now as I think a big rally is underway. Look at this - over the recent few days markets has not been moving down , down , down - but rather consolidated in a choppy way (usually indicate a market bottom ) before we take off.

I see some great possibilities of a major rally starting early next week ( Probably Monday ) as the markets made a perfect inverted HS pattern with the right shoulder being in. This little inverted HS pattern targets near in the zone of 1290-1300 by early next week, where I think we will be going near term, before any pullback and then higher.

Remember there are so many bloggers out there , who dont even post their trades and so many bloggers out there who says "Yes - either we go up here , if not we go down here" Well - then they are always right , but I at least give you my own oppinion what I think is going to happend instead of saying 50% up or 50% down. This means that I'm not right all the time and also make mistakes , but I find it more usefull to share what I think is most likely to happend instead of telling either we go up to 1330 or we go down to 1230... that just make not much sense to me - and you dont find many other blogs out there who post their trades in the markets.

I'm still looking for 1320 area or 1330 by end of this month so its about to buy all the dips you can right now.

If you look at the small caps they are holding up way better than overall markets - which is very bullish. So not much to say - the conclusion is that we are consolidating at bottom here before a big rally early next week ( I think we get one Monday... but probably also Tuesday) so get ready imho.

Have a nice weekend everyone and enjoy.

Market view

Markets were really choppy yesterday - first up a lot - then down to test MA(200) right below 1260 as I indicated was a possibility yesterday , but then bounced hard into close and closed near hod.

I've added to my TNA position at low 68's as I'm still very bullish short term from here.

Markets havent really been going anywhere over the last 3 days - as we got a nice up move in markets - then down and then a little up , so we have "stayed" choppy in support range 1255-1265 area which should give us a strong rally soon imo

Every indexes I have is still on a full buy signal since yesterday - so lets see what happends over next days/weeks.

FTSE is getting close to a major trendline support which I think will hold this time at least for a short term rally - and the same for CAC (France)

I am going to short markets big again when all you guys are predicting markets going to new highs and 1450 and 1500 and everything just looks good.... or when Obama adress another kill or another "good news" out there....

Remember - the top were exactly when Osama bin Laden was announced......surprise... bottoms usually when a country deffaults - natural disasters or war or something else.....

My upside targets is in the 1320-1330 area into end of June. Holding all my TNA 68.5 average.

Good luck to everyone

Market view

Markets did a nice plunge as mostly called after the big rally we got to near 1288-1294 area. I stated that if we would not take out 1294 - then there is a good possibility we see news lows before making a real bottom.

Either way as I stated yesterday , I would be buying and I did load a size position on TNA 68.8$ for a swing trade from here.

The downside is imho very minimal here and upside is huge at the moment - too many bears right now and I dont think we are heading way more down. How about a market bottom on the day were they were showing 24- hour live from Greece fighting each other ? Good for some fear - well it was and volume were also good, usually marking a capitulation.

Remember - I went short markets 1st June around 1330 and were holding all the way down to 1270 some days ago and took profits. Now lots of people think the sky is falling and doom and gloom - right now is the time where I am a happy buyer.

Overall we have lots of good support below MA(200) and other big trendlines which should show some support, I see a possible backtest of broken trendline which we broke out of but then got slammed down to make a possible backtest.

Remember the chart yesterday about the euro I posted ? - I said that the euro made a topping HS pattern which looked ugly and a big flush in euro should come - we saw euro down -1.5% yesterday pretty big , with that markets got lower.

No one can be 100% sure about market bottoms and tops - but I think we have a very good possibility of a market bottom now - also with fear been rising a lot above upper BB. If we close below today in VIX - then we have a equity buy signal. Last week I also said - that I would see a nice move down with the "fear" rising , then to see a bottom. We had the VIX above 20 yesterday and fear is rising a lot - I think a short term market bottom is VERY close , if not in. We might gap down to 1260 or around here, but downside very limited now.

If we look at FTSE , we are near a huge support zone indicated on chart too.....

I waited out to buy a big size position in TNA when both 30min and 60min began to be oversold which it was at 68.8$ so I favour at least a "bounce" from here - either way downside should be very limited now.

If you look at Russels or small caps - they did NOT make a lower low - like other indexes , which is very bullish signal to me. Russels leading markets both UP and DOWN.... and if they are holding strong - I see it as a big bullish signal. If we look at CPCE we have the "wall of worry" which has been quite good to predict market bottoms and tops......lets take a look where we are now :-). Its not 100% right nothing is , but right now its saying a market bottom - and actually a possible big rally to new highs comming ? Who knows.... I dont think so , but open to everything what markets tells us.


I see a possible backtest rally to 1320 area and TNA possible 80+ target comming over next weeks - I think we are making some kind of market bottom now and a relief rally would come. I really dont think we will make new highs , but a relief rally to upside is due now.

I'm also long lots of small cap names included APWR from 2.1 which is way higher yesterday and looking for more gains. MCOX, SMSI , TA, CWTR also long

Have a nice day

Market view

Wow - markets got for sure a nice rally - which was kinda like predicting per the charts on Monday with all the bullish divergences. Actually I were quite stupid to sell all my TNA the day after way too early in the morning with some good gains - but profits is still profits.

The markets rallied to 1290-1295 as was my target range for the rally and I have a few options today.

1. When I look at my daily charts the looks like a screaming "buy" signal to me - I think we are near a bottom - so I would not rule out that we bottomed out at 1270 level. The action today (Wednesday will tell me)

2. Either way - up or down, I think we will see some weakness - the markets reached the backtest again where we plunged last time - will we do the same ? I dont know....

3. I personally would think we have a little morning dip today to SPX 1277-1280 range - just to make the right shoulder in a inverted HS pattern. If this range holds today - I am going to load the boat again up on TNA and on the long side as I think a multi week rally is underway.

4. The only big red flag to me is the euro - it looks like a clear topping HS pattern so just looking at euro it seems really bearish to me at the moment , and with this markets could drop further down - but time will tell.

Conclusion: Either way - I am going to buy the dip sometimes today as I see a rally still underway and a market bottom in. If it was not at 1270 range - will it be lower today ? Who knows - I will be looking for the short term charts - they need a breath or a move down - but I will be buying long.

Remember I have already bought some small caps yesterday and still holding.

Have a nice day

Market view

Markets did another minor sell off intraday but got back up again and closed flat and neutral.

As I said on my Fridays post - I am expecting a short term bottom very soon - therefore I took all my profits yesterday on TZA from 34.5 to 42's which had some pretty nice gains + I took my ZSL gains around 20% in last days....

I began to take a starter position yesterday in TNA at 68.9$ as I see a multiple bullish divergence on 60 min chart + I think a short term bottom is near.... there is a possibility markets may go down a little bit more over next days - but I will just add some more longs lower IF we get there. If you follow me on twitter you will get all these things live intraday.

My TZA target were 45 and there is still a possibility we get there next days - but overall I wont be greedy either and just be "locked in" on this target - and therefore better to lock in gains and miss the last run up. I've already got a lot since early June.

From what I see right now is 2 things:

1. We might have a good up day today - and then a big sell off tomorrow (Wednesday)
2. Depends if SPX breaks above 1294 or not - if we dont breakout above 1294 - I will probably take some gains in TNA and then watch out if we get a sell off Wednesday.
3. If we breakout 1294 I am going to hold all my TNA and probably add more to my position.

I have a multiple bullish divergence on my TNA which I had on my TZA when it was trading at 33-35 level - now just opposite and therefore I expect a good rally to come.

I also bought some small caps for swing plays.

So overall the conclusion is - got a good position in TNA 68.9 - IF we break 1294 soon I will hold - if we stay below 1294 I will probably sell my TNA from yesterday and wait out until wednesday to buy again - but EITHER way a SHORT TERM bottom should be in pretty soon and therefore it might be clever just to add to position lower as I see some good upside gains over next 2 weeks + window dressings + Greece bailout package + new IMF head comming before 30th June.

So overall time to play some long positions now - upside targets could be a backtest of broken trendline at SPX 1315-1320 and if we wanna go to extreme levels - then 1320-1330.

Have a nice day