Traders Corner (7/1/2014)   18 comments

Nothing exciting on the news front today, so I am skipping the daily notes today. Also, I probably won’t be doing any trading this week: I am on vacation, and my schedule is packed, so I won’t be doing the daily summary at the end of the day this entire week (although I will do the usual weekend open thread on Thursday). Today, the family and I are going to Oatland Island Wildlife Center, one of the hidden gems in the Savannah area. Yesterday, we went to see Maleficent, which I highly recommend.

But on to today’s technicals…

The S&P 500 levels to watch today:

UPSIDE: 1963-1964 (3 data points), 1968 (June’s high and the all-time high), and 1972 (top of the Bollinger Bands).
LAST CLOSE: 1960, inside the 1957-1961 (7 data points) range.
DOWNSIDE: 1955 (June 9th’s high), 1947-1950 (5 data points and the 20 day moving average), 1924 (May’s high and the bottom of the Bollinger Bands), 1911 (50 day moving average), 1897 (April’s high), 1883 (March’s high), and 1881 (100 day moving average).

S&P 500 Daily Momentum: Bearish
S&P 500 Daily Overbought/oversold: Neutral
S&P 500 Weekly Momentum: Bullish
S&P 500 Weekly Overbought/oversold: Neutral (leaning overbought)
S&P 500 Futures: Positive
Overall: The S&P 500 futures are strongly positive today, so expect a strong opening. How we finish the day is anyone’s guess, as the technicals are quite mixed.

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18 responses to “Traders Corner (7/1/2014)

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  1. Have fun! 🙂

  2. Have a god vaca Ed

  3. Looks like mo-mo continues with gpro. Gutsy move with Vegas $ by trader paying off.

  4. Sold the rest of GPRO for plus 5.67 14.5%.

    • Wow, nice trade! I just sold Aug 16 18 calls on my 1/3 GTAT shares for 2.40

    • Very nice one day gain. I am a bit envious!

    • Thanks. Don’t see too many like this. Could have held, but I just didn’t want to press my luck. As I’ve said before, it doesn’t count until its cash.

      • Awesome job on GPRO Trader, I wouldn’t want to be around for this one when it starts to correct.

      • This is crazy. Some people are going to get hurt big time when it does. I’m scaling back my positions as I hope to continue to be on the right side of the momentum. I’ll drop this one like a bad habit when it starts to go the other way. I’ve made enough over the last few days to take some risk. Just don’t want to give it all back.

  5. Small position in GPRO @ 46.69. The air is getting thin up here.

  6. I sold my TZA. It definitely as a hedge, a hedge on profits. Ended up losing 12% on the trade (ouch), but it was a hedge against drops and my portfolio in total did very well, even carrying the TZA dead weight (up 3.6% in aggregate while benchmark was up 2.5%).

  7. Out of GPRO for plus 1.81 3.9%

  8. Go team USA!

    • We did good and it was great fun. I’m trying to figure out who to root for now?

    • We won, but you made it pretty difficult for us. We have far better players (we can discuss the best team), for the moment. If soccer wins some more in popularity, I think in 15 years you’ll be world-champion. If you compare the USA I’ve seen yesterday to the USA from 15 years ago … what a difference!
      Congrats with the play. Together we played the best match in the whole tournament!

  9. Date DIA QQQ SPY IWM

    6/11/14 1.34 29,000 1.41 269,000 1.67 1,450,000 3.01 491,000
    6/12/14 2.33 40,300 2.39 465,000 2.26 2,470,000 2.22 767,000
    6/13/14 1.82 62,300 1.61 369,000 2.45 2,067,000 2.53 581,000

    6/23/14 1.82 20,200 2.13 267,000 2.45 1,460,000 1.96 386,000
    6/24/14 2.03 38,700 1.22 435,000 2.18 2,370,000 2.56 708,000
    6/25/14 2.15 23,600 1.51 326,000 2.01 1,600,000 3.43 563,000
    6/26/14 1.20 31,400 1.44 315,000 1.80 1,890,000 2.43 459,000
    6/27/14 1.66 22,500 1.42 309,000 1.68 1,509,000 1.58 431,000

    So I was a little behind posting the ratios from some dates. I think the 11-13 is one I was missing, and all of last week as I was just to busy. I’ll actually wait to post all of this week at once too since it will be only 3 1/2 days of trading. I just pasted it so the ratio comes first, and its followed by the volume. Format is kind of close together but I think its still easy to read. let me know if there are any questions.

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