New Members

This looks to be a good time to add any shorts needed, I don't think the chance will last long.

Update

If you didn't get a chance to take profits on the long bounce positions (not UNG), here's your second chance. We can always get back in later, the risk right now is not worth it though with the profits made in a few days.

Test

This is a simple test post of the notification system. If you did not receive it in your email, send me an email with the address you'd like notifications to be sent to. This certainly wouldn't be the first time I've had problems with Google tools, but you can't complain too much when they are free (unless you count data harvesting as a cost of using their products).

UNG

Is a LONG-with gap up and everything, I'd buy this ASAP at market

Pulled the longs

Today at 3:35 I said to pull the majority of your long positions off the table. Check the charts at Trade-Guild for an explanation as to why. We had significant profits in a day or two, it was a worthy quick trade but it seems to be over. The after hours market is already down.


If you are a new member, I hope you put together a short position. The next down-leg could be the big break. It's difficult to say at this point if we will get another rally. The price formation says no, the volume looks like it's a possibility. Above $110.50 on the SPY, then we have a breakout from a midterm double bottom, then we will be long a, but maintain the core shorts. We will have to wait and see. If we get a positive divergence later in the day tomorrow I will post it and we may jump back into the longs probably at lower prices then sold at.

The trade of the night, remains UNG, it looks ready to resume its uptrend and there should b close to 40% in that long trade. I'd buy at market in the morning. There's a few other trades listed tonight. I'm getting some emails, GOOD! That is what I am here for, to help.

Update 2

I'd consider taking some profits on the longs right now. We have some negative divergences in place. You could leave a little in place, but I'd probably take a good potion off the table

Update

Remember, targets for the market (SPY) are $109.20 and $110.80, although you may want to use 1-5 min 3C or wait for my post. I just am not 100% sure I will be able to look at the computer all day. I will update anything I see though.

Bounce?

The first 3 charts of 1 min positive divergence in 3C in all 3 averages using all 3 versions of 3C

This is a 15 min price/volume relationship custom indicator made on StockFinder. You can see a lot of strength behind the large green bars.

Here we see the exact same behavior as the last short loved bounce. The price volume relationships are the same and the candles are the same. This is a daily chart of the SPY.

So far I do not see any convincing reason to believe the bounce will not continue.

As I suspected, the DOW is out-performing the NASDAQ, read my past few posts as to why. New members should be using any strength to add to their short positions to get it up to a core position you are comfortable with. We are already past 50% and will add more to get to 75% by the time the SPY trigger is broken.

UNG

STILL BULLISH on UNG!

This is a simple pullback and if you missed the trade the first time, now is a good time to pick it up long or to add to your established long position. Like I said, the first pullback will be to the 10 day m.a. that's at $7.77, but I doubt it even goes down that far.

This is a nice looking long position that should have about a 40% gain at least in it.

Update 2

OK, we are seeing the start of the positive divergence, we should see a move up soon.