Intraday Commentary ~ 03/22/2011

By

FocalEquity

– March 22, 2011Posted in: Intraday Commentary, Stock and ETF Models

12:04pm
What a boring day today.. nothing has really happend.. but this should all change tomorrow with a lot of news on the table.. I took EWJ off the table today (it might get another push up.. but i’m not taking the risk). I’m be looking to short if we make another low today (below 129). 

About FocalEquity

Sun Tze is one of the founders of FocalEquity.com. After going through multiple transitions, Tze, Charlie Cheng and their new team are bringing new changes and features to the new FocalEquity.com in 2011. Tze is specialized in financial modeling and has a masters degree in Finance.

15 Comments

1. Robert_Tax_CPA

   Posted March 22, 2011 at 7:26 AM

   No current positions in trading account. I believe woos post of yesterday is spot on at least direction wise. Another drop on SPX feels due…from what level is the question. I’m not deploying shorts yet, but short is my next anticipated big bet.

   • Brownie54

     Posted March 22, 2011 at 8:24 AM

     Agreed. I’d love to see a pop at the open and then a swoon after 10:00 AM. Unfortunately the market doesn’t care what I want. So I’ll stay on the sidelines also and let the market decide where we go. Also, you asked me yesterday about my 1294 line. I do visit Daneric’s site daily among a couple others, but didn’t get that number from him. I do enjoy his charts and the board is pretty lively.

2. chicagochris

   Posted March 22, 2011 at 10:24 AM

   wow ftk took off…anyone know why…not a lot of press on this stock

3. woo

   Posted March 22, 2011 at 1:29 PM

   Still no positions for me. Will wait until tomorrow.

   • dmid

     Posted March 22, 2011 at 1:34 PM

     Hi Woo,
     Haven’t seen you in a while,
     what is ur view on SLV, planning to take some july calls, what do you think?

     Thanks,

     • dmid

       Posted March 22, 2011 at 1:35 PM

       oh, seems like the time line is not adjusted for the day light saving yet?

       • woo

         Posted March 22, 2011 at 1:40 PM

         http://stockcharts.com/h-sc/ui?s=SLV&p=D&yr=5&mn=2&dy=0&id=p33324451353&a=214704911

         I wish I had paid better attention to my SLV chart over a month ago when I had these projections in place. I still think there is a little upside left, possibly more than what i have here as the minimum top. I would wait for a breakout though to new highs just in case. If you are comfortable with your own TA/FA on SLV to jump in earlier then you can do that. I personally haven’t recharted and analyzed SLV in over a month, so I’m not sure if I am comfortable enough to grab an option position until that break.

         • dmid

           Posted March 22, 2011 at 1:52 PM

           Thanks Woo,
           Ya, i was planning to start with 1 call and jump in on a close above 36…
           but let us know of your moves. greatly appreciated. Thanks

         • dmid

           Posted March 22, 2011 at 1:54 PM

           also, if we close around current level, seems like a breakout on closing basis

       • woo

         Posted March 22, 2011 at 1:52 PM

         http://stockcharts.com/h-sc/ui?s=AGQ&p=D&yr=2&mn=3&dy=0&id=p48717804603&a=208744562

         Also, AGQ is very similar looking, but it seems to have a bit more downward pressure lately in my opinion. Overall there is support and the uptrend is intact, but I wouldn’t be surprised if we saw another move down to the low 160 area on AGQ. hard to tell if we’ll top higher or not first though, which is why I would look for that breakout for a quick position, but I’m not sure how long I would hold calls on SLV.

4. goldmansuchs

   Posted March 22, 2011 at 2:30 PM

   IMOS
   Huge volume today .. They tend to use lighter volume days to bring the price back down and I’m not very great at TA so I was looking for some help. Any and all input appreciated. Besides Sam of course!!

5. wsomelsome

   Posted March 22, 2011 at 2:53 PM

   This is my opinion even though I’m not a great trader, and I lose as often as I make. Today’s crucial with this non-move. It has a good chance to fall a good size at tomorrow’s open, if it rises again tomorrow, a great opportunity to short, however all bets are off the table, on the downsize that is, if the market rises again on Thursday, the game’s reset for next direction. That’s my game plan for the next few days. I’m taking a small short position today (JOYG) in anticipating tomorrow’s fall.

   • chicagochris

     Posted March 22, 2011 at 3:51 PM

     two things I picked up on today to consider…first..there are some significant Tech stocks reporting wed-thurs….MU which will determine the semi sector fate, not to mention aapl as they are a new cramer fav chip stock as a play on aaple…you also have RHT…which will give the first guidance into cloud stocks..and then RIMM and the introduction of their new tablet…most are expecting disappointment…but you never know

     then the second thing..I heard there are many funds who are underperforming this month…probably those caught off guard by all the unforeseen headlines….they will be chasing performance into the end of the month…which is probably why we saw the rare earth stocks come alive

     and then of course there is GDP friday…I don’t think anyone can guess which way we go yet with all of that news coming

6. chicagochris

   Posted March 22, 2011 at 4:10 PM

   those oil stocks are jumping big time AH’s

7. lynxx

   Posted March 22, 2011 at 4:40 PM

   SPX 30 min … looks like a bullish flag to me.

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