I mentioned over the weekend that I thought maybe we could break the overhead trendline and move higher then later in the week test it to the downside. That was wrong. However, I did provide the levels to look for to make a trade.
The market moved fast right out of the gate this morning. I [...]

• Comments

SPX is right around some major inflection point, but both the RUT, and the COMPX have considerable upside room which makes me think we are going to see the SPX break this trendline to the upside.

After the break I think it will selloff to test the line causing a break even for the week in [...]

• Comments

I bought index longs today at the close. I was either looking for the washout or a move higher. Got a move higher back over a level I was waiting for.
Looking for 100 pts higher on the COMPX.

• Comments

I’ve sold any long I’ve owned throughout this turmoil. I’ve capitulated. I’ve taken my losses and picked up my ass and did the right thing. I went smallish to the short side. I’m looking for a low to be put in this week. The monthly charts are very oversold, BUT this month has to end [...]

• Comments

The pressure is building under the foot of a weekly divergence in the SPX, RUT, NDX, COMPX and the other sectors that have been smashed, namely commodities, financials, and real estate.
A relief rally typically happens when this setup is showing its face. We had a rally off the 3rd week of October low based on [...]

• Comments

My precious precious rally.
I’ve been calling for it since the 10-10-08 lows.
To recap these are the numbers I’m looking for.
COMPX: 1894.39
This is the open on the weekly bar for 10-10-08.
SPX: 1097.56
This is the open on the weekly bar for 10-10-08.
RUT: 617.51
This is the open on the weekly bar for 10-10-08.
I got into this trade 1 [...]

• Comments

I know it sounds fucking ridiculous, but I knew when I got trapped in the long trade, that it was going to be one I’d have to wait out quite awhile. I’m ok with that.
I’ve been making the mistake of diddling around with these little stocks all on the long side. However, there has been [...]

• Comments

I was too enthralled with my new intraday trading system to look at the inverse ETF’s. Actually I didn’t have a shot at even buying them as I blew all my available capital this morning trading these little piker stocks like JBLU, PCR, LEN (only real winner today), NYX, SWKS, and TBSI.
This is where the [...]

• Comments

• Comments

While placing my vote early for the next president this morning, the market was in shitsville. Futures started up large, but by the time 10:30 rolled around, which happened to be about half way through the mother f’n 3 hour line I waited in, the market had given back a huge 300 pt move to [...]

• Comments

Dear VIX,
You suck. You should be roasting the people who are gleefully disrespecting your size and price. Should you ever start to work again, I will always remember this moment in time and offer a swift kick in the nuts whenever I see you on the street followed by a knee to the head.
Goodbye VIX.
Love,
StockRake
PS [...]

• Comments

On October 14th I mentioned that shorting gold might be a good idea. Although I didn’t participate in this trade, I mentioned the setup was there. Why I didn’t get involved in this one? Funds wrapped up in my previous ideas + funds settlement hell.
From October 14th 2008:
Where we are now:
Well we now know that [...]

• Comments

Again I’ve been wrong with my bigger trade and I’ve said it nearly everyday.
Today’s day trade for UWM was good for 1.9%, there was more in that trade, alot more, but I was distracted all day.
What I’m looking for this week to happen is a test of the 21 d ema.

In many down moves in [...]

• Comments

Typically a doji after a move can mark the end of a move. If you don’t believe me check out this site that dedicates a section to candlesticks.

• Comments

It sure sounds like it when you read the comments from this post. Its a sign that sentiment is worse. I posted earlier today that “Today’s Market Action Will Cause A Level of Apathy Not Seen Since The Great Flood” @ 12:24 pm. The COMPX was trading @ 1716 and ended @ 1633. There is [...]

• Comments