Intraday Commentary Archive

Today's Trades * Managed SDS (L) and QID (L) positions. Took 1/2 off during light pre-market trade near support and put back on at higher prices as MA pattern emerged on the ES intra-day. * Put on small 14% long position in oil using the USO ETF as oil may be setting up for a bounce. Tomorrow's Plan * We are positioned for a move lower in the markets, but have enough cash to add to the position on strength. This market has been volatile so we are prepared for a small rally if it comes. * I prefer the SDS to the QID because the NASDAQ is much stronger. This may bite me later because perhaps it has the most to fall. But I think exposure to financials is most important. Considering SKF position. * We have a tight mental stop-loss on the USO (L) position.

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The market is in a correction. Expect continued weakness in the short term. The markets may trade very choppy over the next several days, with high volatility. But ultimately, the...

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The market is in a correction. Expect weakness over the next two weeks. High energy prices and unhealthy action in the financial sector is weighing this market down. Concerns over continued writedowns and capital raising have returned. Some European banks are acting very sick, indicating there may be another shoe to drop overseas. These worries should put continued pressure on the markets. The S&P has support around the 1330 level, which is near a 61.8% retracement (from the Mar 17 low to the May 19 high). It is too early to identify when the correction will end, but a late June / early July turn date may setup a nice summer rally.

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ETFs have become popular trading vehicles because they are focused on specific markets and have ample liquidity. Some even offer leverage to get a bit more bang for your buck. Here's a list of the most popular ETFs you should become familiar with.

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The market is in a correction. Expect weakness over the next two weeks. Unhealthy action in several financial stocks indicates that there is another shoe to drop in the troubled financial sector that will lead the markets lower. The S&P has support around the 1330 level, which is near a 61.8% retracement (from the Mar 17 low to the May 19 high). It is too early to identify when the correction will end, but a late June / early July turn date may setup a nice summer rally.

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The rally that began March 17 is over and the market has entered a correctional phase. Upon the first hit of the 50-day moving average, we called for a light volume bounce into the 20-day moving average area, which has panned out perfectly. We expect the market to head lower early next week, perhaps Monday or Tuesday. We think the S&P will find support around the 1330 level, which is near a 61.8% retracement. It is too early to identify when the correction will end, but a late June / early July turn date may setup a nice summer rally.

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The rally that began March 17 is over and the market has entered a correctional phase. However, the market has dropped very far very quickly and a short-term bounce may be in store, perhaps into the 20-day moving average area. Weakness in major financial stocks lead us to believe that the credit market woes are not entirely behind us. We expect continued downside in the S&P to the 1325-1332 level over the next few weeks or so, before a potential summer rally.

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