From the monthly archives: February 2012
I’m not going to claim that I knew this was going to happen but it was just a week ago that I read that John Paulson said now is the time to buy gold revealing that he has a $2.9B position in Gold. Why in the world would anyone reveal that they have such a [...]
Now that ES has broken the old 1373.5 high I am looking to get short in the 1380-1390 range if it gets there. For now it’s more waiting and seeing though. Still if ES closes well off the high today, preferably below 1373.5 it would setup a sell for tomorrow.
I want to get short Gold at the current price levels but there is no sell setup yet. Today’s up move in Gold could be a good shake out of the shorts before it reverses back to the downside tomorrow. So provided Gold stays below 1789.5, Gold could be setting up for a sell tomorrow. [...]
Treasuries have surprisingly rallied since I closed my short put position six days ago. This is somewhat of a divergence from ES and could confirm that ES is nearing a top. Still I want to see treasuries break the 132’110 high soon and reclaim the 117’295 uptrend line to confirm that this market is still [...]
ES failed to break 1373.5 last week which is somewhat bearish. It could still happen this week but I ES is currently in a hard to predict state. ES could continue down to support from the 1195 uptrend line around 1346. There is a chance ES holds support in the 1342-1346 area and then proceeds [...]
ES is at support from the old top at 1354.5. The next level of support is at 1349-1350 from the 1243 uptrend line. The 20 day moving average provides support in the 1341-1342 range. And the strongest level of support is in the 1330-1338 range (nearest blue rectangle). My point is there is a ton [...]
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The Euro has failed thus far to break back above the 1.267 uptrend line and is has failed to make a higher high. There may be a trade to the short side here but it needs to setup a little bit longer.
The other thing to note is that the Euro has traded [...]
ES has support at 1354, but could drop a bit further to the 1346-1348 range. As long as ES stays above 1334 I still think ES is headed to 1373. So I’ll be looking for reversals around those price areas. If ES does drop to 1334 again then I would consider shorting ES on a [...]
Gold is moving back up towards the 1767.1 high. I think it has potential to hit the 1776-1792 range. I still am bearish on this market but now is not the time to short. I have to wait for a better sell setup than this. If Gold takes out the old 1767.1 high then I [...]
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- I swear they ran that up to 1158 just to blow my stop 2011/09/29
- ES is at 1154, moving stop to 1157.75 2011/09/29
- Short ES@1158, stop=1162 2011/09/29
