Showing The Actual Damage To The Banks

This Ticker came from Tim Knight's Blog.. Years of gains. Gone in no time!

Buying POT.. The Ticker!

My order for buying a Dec. 190 Call was filled last Friday. Looking good so far. I'm in with the strong support at 200 and the MACD about to roll to the positive side. Up 9% today on ROI not ROR.

The Next Bottom Leg... Drum Roll Please!!

Looks like the SPX will find some support pretty soon at 1200. This is the next lower Fib line.

Where are the bulls? When are the bearing going to stop?

Peter does a great job with a video market analysis at the link below.
http://www.redoption.com/shadow_video.php

Why Long Term Berish On The S&P 500

One more chart. If you notice on this SPX chart we retraced down to the 78% mark like normal. Then we didn’t make another high, but went lower to the 61% and bounced as we should with Fibs..

Now the bounce of the 61% hit the 78% mark and turned down. Normally I would call this weak but not over, but it looks to me like we are losing the 61% mark and are heading to the 50% mark. A bounce off the 50% and to the 61% would be normal for a Fib bounce then a turn down next to the 38% would be in order after than….

Bought Calls on JOYG

Bought QID PUTS

S&P 500 finds support.

With wayyyy oversold daily conditions we were due. This is a stop at support but is this 'the end of the bears' ? Don't think so if you ask me. Anyway I'm bullish for now. Long QID PUTs, Long SPY calls, Long JOYG calls, and neutral with the RUT Condor. I did move my lower condor leg down (swinging my way). My RUT shorts are 750 and 570.

Attached is the S&P chart.

RUT Rolling! Rolling! Rolling!

I've closed my Russell 2000 Aug. bear calls for a very nice profit yesterday. Today I opened up bear calls at 750/760. Kind of playing defense as well for my bull puts as I see the Russell 2000 as weaker than the S&P 500. While I don't see a move of the Russell to the 630 price point it sure could vist 645 and I'm hedging that move. With all this going on I'm taking in more credit for Aug. which increases my return to 35% in 55 days, in turn I'm going to need to hold the August trade longer than I initally wanted. Holding most likely 52 of the 55 days. So as of now 42 dys left before RUT 2000 August expiration.

I'll be watching my 630 short as time moves on and roll it IF needed. I would rather defend it than move it at this time. If we move down to that point I will be able to close out my 750/760s for a profit. Profit on the topside again which would help on the bottom roll.

S&P 500 Takes a short break from the downside. More downside to come!

The S&P 500 has taken a beating. It seems to be taking a break from the downtrend at a Fib. line. I'm seeing 1200 or 1175 as my next S&P price target. That would be a retest of the lows from 2007. We might pause at 1235 but my target is 1200.

Funny Pic from Incometrader Blog

http://incometraderblog.com/

S&P 500 Finds a short term bottom / Russell 2000 finds support but very weak