It's about to get bumpy. The ETF that mirrors the S&P500, SPY, has broken the 2016 trend line; support shown as upward sloping blue line on chart (below). Granted, it's a pretty steep trend line, however, the fact that price violated this price zone is bearish. S&P 500 Index ETF (SPY) daily In addition, price is fast approaching primary support; the upward sloping white trend line from the bottom in 2009 (above and below charts). This rising support zone was broken earlier in … [Read more...]
[Trade alert] Plus…how to spot entry points
Today let's take a look at a new buy opportunity, then I want to walk you through some specific examples of how a trade like this should work moving forward. Obviously, not every trade works as planned, but that's why we are prepared for all situations; which is also why we are so successful. Avalon Communities (AVB) is set-up right within our framework for a nice entry point. Price has been moving sideways for about two years (see highlighted area in below chart) and has recently … [Read more...]
Stocktwits, the future, etc
We are hanging out in Newport Beach for a week. My wife and I lived here for about 10 years during the 1970's…it's where we met and got married. It's not the little beach town it was so many years ago but we still love it and have wonderful friends here. I have a favor to ask…check out Stocktwits.com and let me know what you think. Howard Lindzon and his Stocktwits team put on the Stocktoberfest conference I just attended in San Diego. Howard is a really smart guy, knows a ton of people … [Read more...]
Sell Everything?
Dow was down 390 on Friday marking the first trading session since late June to move more than 1%. We have been in such a tight trading range for the past 2 1/2 months that something needed to give. It just happened to give down. That's OK as we have been hedged a bit with short positions. S&P 500 Index ETF (SPY) daily You can see from the daily SPY chart that price closed under support, the red horizontal line that represents the closing high from May 2015. Looking at the … [Read more...]
Passive vs Active Investing
The debate continues to gain momentum. I am going to Stocktoberfest in October at The Coronado Hotel. It'a a gathering of disruptors in the erupting fin/tech space. Lots going on in the delivery and scope of investment advice. Things are changing and t's about time. I wrote this 3 years ago...Passive vs Active: What's the right investment strategy for you? The Stocktoberfest should be fun. Here's the website if you want to check it out ...http://www.stocktoberfest.co No trades … [Read more...]