Tuesday, March 11, 2008

We Closed our Short SPX Position with Timer Digest

We Closed our Short SPX Position with Timer DigestSocialTwist Tell-a-Friend
Fari Hamzei

The following email went out to our MSA List Members this morning at 1037 CST (w/o the chart).


Timer Digest just confirmed that we are FLAT SPX as of last night close.

NYSE McClellan Oscillator yesterday hit -279 while NASDAQ McClellan Oscillator closed at -179. DJIA, SPX, DJ Trans & RUT each closed just a tad above -3 sigma, NDX was at -3 sigma, VIX, VXO & VXN closed above +2 sigma.



So late last night, we decided to cover our SPX SHORT position from 1507 (put on 6/8/07) and booked 234 SPX points for now.

Again we repeat, we are NOT LONG SPX here. We are FLAT SPX. If and when we go LONG, we will update you all immediately.

Sunday, March 9, 2008

A Few 30 Minutes Charts Worth Noting

A Few 30 Minutes Charts Worth NotingSocialTwist Tell-a-Friend
Brad Sullivan

These charts were posted on Thursday March 6, 2008 at 1215 CST in our SuperPlatinum Virtual Trading Room.









Equity Index Update

Equity Index UpdateSocialTwist Tell-a-Friend
Brad Sullivan

This article and accompanying charts were posted on Thursday March 6, 2008 at 0830 CST in our SuperPlatinum Virtual Trading Room.

The index markets appear to be set for another volatile session as news out of MER, FNM and TMA have knocked the markets substantially from overnight highs. On the positive side of the ledger, WMT boosted their dividend and announced slightly better than anticipated monthly sales figures. Currently, the SPH is trading at 1328.50, -7.00 on the session and in the heart of yesterday’s final hour choppy trading zone. Considering that the Employment reading will be tomorrow morning, one has to wonder if the market will have enough “juice” to move substantially in either direction. However, if the news cycle continues to deteriorate and the dollar freefalls, anything can happen.

I have included several charts today…among them is a chart with daily closes in the SP Cash. It is worth noting that we are, for all intents and purposes, locked in a range between the January closing low of 1310.50 and the Feb High of 1392. However, the substantial portion of the settlements in the index has occurred between 1360 and 1335. The situation now is this…is we building a base from which to move higher or a topping base from which to move lower?









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