Thursday, June 28, 2012

SPY chop

The market is just chopping around in a range, a real mess. Seems a market only for scalpers or long term holds with wide tolerance. Best to wait for some direction. If you are holding any longs (or shorts) for an extended period, plot them with the SPY and make sure they have their own independent momentum, and are not just chopping around with everything else.

Here is a possible scenario...

Monday, June 4, 2012

trading edge in FB

Here is an overlay of the SPY and FB that I took on Friday. Is there an edge here? Might consider waiting for a divergence to give some indication.