Trade well,
Trader D
Wednesday, June 24, 2009
Tuesday, June 23, 2009
SRS revisited
On june 15th we mentioned SRS (Ultra Real Estate Short) as a great way to play the "not quite back yet" real estate sector. After being up over 3 points in a week...we are adding more to our position.
Trade well,
Trader D
Trade well,
Trader D
Monday, June 22, 2009
For the daytraders
The 200 day (intraday) MA is the support/resistance for daytraders on all of the indexes:
Trade well,
Trader D
From bad to worse
The ADX line is starting to move further into negative territory. Not a good sign for the bulls.
Trade well,
Trader D
Friday, June 19, 2009
Come Monday..
This could be a problem:
Iran's supreme leader warns protesters
Story Highlights
Ayatollah Khamenei urges demonstrators to maintain self-restraint
He criticizes protests, says those who caused violence would be held accountable
He also criticizes international media for how they have portrayed the election
Trade well,
Trader D
Iran's supreme leader warns protesters
Story Highlights
Ayatollah Khamenei urges demonstrators to maintain self-restraint
He criticizes protests, says those who caused violence would be held accountable
He also criticizes international media for how they have portrayed the election
Trade well,
Trader D
Wednesday, June 17, 2009
Extraneous Noise??
NEoWave Warns Stock Market Has Peaked for 2009
NEoWave Institute's Glenn Neely is forecasting the largest vertical drop of the decade for the S&P 500. Neely predicts the stock market will decline 50% in the next 6 months.
Aliso Viejo, CA (PRWEB) June 16, 2009 -- Glenn Neely, founder of NEoWave Institute and prominent Elliott Wave analyst, today announces a startling prediction: The S&P 500 is forming a major top in June, which will be followed by a large decline, eventually pushing the stock market to record lows for the decade.
"Technically speaking, according to NEoWave a correction began at last October's low; the March-June rally is the final leg of that correction," Neely explains. "The March-June rally is now ending, allowing the bear market to resume. During the next six months, the S&P will decline 50% or more, breaking well below 500!" Currently, the S&P is hovering around 917.
Glenn Neely is providing this information not as a specific trade recommendation but as a general public service announcement. A prominent Elliott Wave analyst, Neely was recently recognized in Timer Digest's May issue as the #1 stock market timer for the past 12 months.
NEoWave Institute's Glenn Neely is forecasting the largest vertical drop of the decade for the S&P 500. Neely predicts the stock market will decline 50% in the next 6 months.
Aliso Viejo, CA (PRWEB) June 16, 2009 -- Glenn Neely, founder of NEoWave Institute and prominent Elliott Wave analyst, today announces a startling prediction: The S&P 500 is forming a major top in June, which will be followed by a large decline, eventually pushing the stock market to record lows for the decade.
"Technically speaking, according to NEoWave a correction began at last October's low; the March-June rally is the final leg of that correction," Neely explains. "The March-June rally is now ending, allowing the bear market to resume. During the next six months, the S&P will decline 50% or more, breaking well below 500!" Currently, the S&P is hovering around 917.
Glenn Neely is providing this information not as a specific trade recommendation but as a general public service announcement. A prominent Elliott Wave analyst, Neely was recently recognized in Timer Digest's May issue as the #1 stock market timer for the past 12 months.
Tuesday, June 16, 2009
Major Shift
The ADX has gone negative on the S&P 500 for the first time since early April.
Watch your long trades and be patient to see if we can reverse the damage of the past few days. With option expiration on Friday you may be able to get a decent trade setup for thursday at the close.
Trade well,
Trader D
Monday, June 15, 2009
THE DAY THE MUSIC DIED
June 15, 2009
Retailing Era Closes With Music Megastore
By BEN SISARIO
The sounds of the Velvet Underground echoed in the Virgin Megastore in Union Square on Sunday afternoon, as bargain-hunting passers-by and hard-core music shoppers poked through what few items remained at the last large-scale record store in New York City.
It was the final day of business for the Virgin Megastore chain in North America, which at its peak had 23 locations but by Sunday was down to two: the 57,000-square-foot, two-level New York outlet, and a smaller Hollywood shop that was also set to close. In Union Square posters trumpeted 90 percent discounts and offered the sale of “all furniture and equipment.” But when the store opened, perhaps 90 percent of the merchandise had already been sold, leaving two tables of CDs and DVDs, a dozen T-shirt racks and a few other scattered displays.
With the music industry stuck in a decade-long crisis, the sight of a record store closing is hardly surprising. But for many shoppers at Union Square on Sunday the loss of a big outlet in one of the most heavily trafficked areas of the city was particularly dispiriting.
“Unfortunately the large retail music store is a dinosaur,” said Tony Beliech, 39, a former Virgin employee who was lugging around an armful of CDs that he said would cost him no more than $20. “It does matter because it was also a social gathering space, and that’s one thing that buying music online lacks.”
Dozens of smaller record stores are still open in New York, and at least 2,000 independent shops exist around the country, according to the Almighty Institute of Music Retail, a market research company. Many of those independents have banded together to promote events like Record Store Day, which had its second anniversary in April. They are also promoting Vinyl Saturday on June 20, which will feature specially produced records by artists like Wilco and Modest Mouse to draw customers.
But the record store ranks have been severely thinned in recent years, and New York, once home to at least three large-scale music chains, now has none. Last month Virgin shut down its other New York Megastore, in Times Square. (There are still Virgin Megastores in Europe and the Middle East, but under different ownership.) HMV — like Virgin, of British origin — pulled out of the American market in 2004; Tower Records closed its 89 American stores in 2006. Trans World Entertainment, which operates the FYE chain, has closed at least 280 of its locations over the last two years, leaving it with about 700, but none comparable in size to the Virgin Megastore.
“It’s clear that the model of the large entertainment specialist working in a large space is not going to work in the future,” said Simon Wright, the chief executive of Virgin Entertainment Group, North America.
To an extent the closings are a result of the overall drop in music sales. From the industry’s peak in 2000 — when some 785 million albums were sold — until the end of 2008, album sales fell 45 percent, according to Nielsen SoundScan. Even with the rise of iTunes and other online outlets, however, CDs have remained consumers’ format of choice, though that advantage is slipping. As recently as 2006, CDs accounted for more than 90 percent of album sales. Last year that proportion dropped to 84 percent, and so far in 2009 it is 77 percent. As many as two-thirds of all album sales are made at large chains like FYE, Wal-Mart and Best Buy, according to industry estimates.
“The Titanic that is physical media started slowly sinking in 2000,” said Michael McGuire, an analyst with Gartner, a market research firm, when asked about Virgin. “Certainly this is a traumatic event for those who worked there, but it’s an expected product of the digital transition.”
But the end of Virgin is also a product of business concerns unrelated to music. Its first American store was opened in 1992 in Los Angeles, and it set itself apart from rivals by developing a clublike atmosphere with booming sound systems and by offering steep discounts. “The indies learned from them and applied that to our stores,” said Michael Kurtz, president of the Music Monitor Network, a coalition of about 100 independent retailers.
As CD sales declined, the Megastores remained profitable by offering T-shirts, DVDs and other items. The Times Square outlet, for example, had annual sales in excess of $50 million, according to company reports, making it by many industry estimations the highest-volume record store in the United States.
In 2007 Virgin’s North American branch was bought by two real estate firms, Related Companies and Vornado Realty Trust, and in a Reuters interview last year an executive from Vornado made it clear that the chain’s true value was not in its sales but in the real estate that its stores occupied. In both Times Square and Union Square, analysts say, Virgin’s rent was a fraction of the going rate.
Forever 21, a fashion chain, is taking over the Times Square store; a spokeswoman for Related Companies said it was in negotiations for the Union Square site but declined to identify any potential new tenants.
At Union Square on Sunday most new and popular titles had long since been gobbled up. In relative abundance, however, were Virgin-branded black T-shirts ($1), Guitar Hero action figures ($1.39) and a variety of Jonas Brothers memorabilia. Yet there were still some hidden gems. Mr. Beliech, the customer and former employee, scored CDs by, among others, the British folk-experimental group Current 93 and the hyperkinetic Japanese band Melt-Banana.
Max Redinger, 14, who was walking his dog, picked up some anime books and Guitar Hero figures. He said he buys most of his music on iTunes but still likes going to record stores and mentioned that a friend had recently introduced him to an independent shop upstate.
“I don’t really buy stuff from it,” Mr. Redinger said, “but it’s a really cool place.”
Retailing Era Closes With Music Megastore
By BEN SISARIO
The sounds of the Velvet Underground echoed in the Virgin Megastore in Union Square on Sunday afternoon, as bargain-hunting passers-by and hard-core music shoppers poked through what few items remained at the last large-scale record store in New York City.
It was the final day of business for the Virgin Megastore chain in North America, which at its peak had 23 locations but by Sunday was down to two: the 57,000-square-foot, two-level New York outlet, and a smaller Hollywood shop that was also set to close. In Union Square posters trumpeted 90 percent discounts and offered the sale of “all furniture and equipment.” But when the store opened, perhaps 90 percent of the merchandise had already been sold, leaving two tables of CDs and DVDs, a dozen T-shirt racks and a few other scattered displays.
With the music industry stuck in a decade-long crisis, the sight of a record store closing is hardly surprising. But for many shoppers at Union Square on Sunday the loss of a big outlet in one of the most heavily trafficked areas of the city was particularly dispiriting.
“Unfortunately the large retail music store is a dinosaur,” said Tony Beliech, 39, a former Virgin employee who was lugging around an armful of CDs that he said would cost him no more than $20. “It does matter because it was also a social gathering space, and that’s one thing that buying music online lacks.”
Dozens of smaller record stores are still open in New York, and at least 2,000 independent shops exist around the country, according to the Almighty Institute of Music Retail, a market research company. Many of those independents have banded together to promote events like Record Store Day, which had its second anniversary in April. They are also promoting Vinyl Saturday on June 20, which will feature specially produced records by artists like Wilco and Modest Mouse to draw customers.
But the record store ranks have been severely thinned in recent years, and New York, once home to at least three large-scale music chains, now has none. Last month Virgin shut down its other New York Megastore, in Times Square. (There are still Virgin Megastores in Europe and the Middle East, but under different ownership.) HMV — like Virgin, of British origin — pulled out of the American market in 2004; Tower Records closed its 89 American stores in 2006. Trans World Entertainment, which operates the FYE chain, has closed at least 280 of its locations over the last two years, leaving it with about 700, but none comparable in size to the Virgin Megastore.
“It’s clear that the model of the large entertainment specialist working in a large space is not going to work in the future,” said Simon Wright, the chief executive of Virgin Entertainment Group, North America.
To an extent the closings are a result of the overall drop in music sales. From the industry’s peak in 2000 — when some 785 million albums were sold — until the end of 2008, album sales fell 45 percent, according to Nielsen SoundScan. Even with the rise of iTunes and other online outlets, however, CDs have remained consumers’ format of choice, though that advantage is slipping. As recently as 2006, CDs accounted for more than 90 percent of album sales. Last year that proportion dropped to 84 percent, and so far in 2009 it is 77 percent. As many as two-thirds of all album sales are made at large chains like FYE, Wal-Mart and Best Buy, according to industry estimates.
“The Titanic that is physical media started slowly sinking in 2000,” said Michael McGuire, an analyst with Gartner, a market research firm, when asked about Virgin. “Certainly this is a traumatic event for those who worked there, but it’s an expected product of the digital transition.”
But the end of Virgin is also a product of business concerns unrelated to music. Its first American store was opened in 1992 in Los Angeles, and it set itself apart from rivals by developing a clublike atmosphere with booming sound systems and by offering steep discounts. “The indies learned from them and applied that to our stores,” said Michael Kurtz, president of the Music Monitor Network, a coalition of about 100 independent retailers.
As CD sales declined, the Megastores remained profitable by offering T-shirts, DVDs and other items. The Times Square outlet, for example, had annual sales in excess of $50 million, according to company reports, making it by many industry estimations the highest-volume record store in the United States.
In 2007 Virgin’s North American branch was bought by two real estate firms, Related Companies and Vornado Realty Trust, and in a Reuters interview last year an executive from Vornado made it clear that the chain’s true value was not in its sales but in the real estate that its stores occupied. In both Times Square and Union Square, analysts say, Virgin’s rent was a fraction of the going rate.
Forever 21, a fashion chain, is taking over the Times Square store; a spokeswoman for Related Companies said it was in negotiations for the Union Square site but declined to identify any potential new tenants.
At Union Square on Sunday most new and popular titles had long since been gobbled up. In relative abundance, however, were Virgin-branded black T-shirts ($1), Guitar Hero action figures ($1.39) and a variety of Jonas Brothers memorabilia. Yet there were still some hidden gems. Mr. Beliech, the customer and former employee, scored CDs by, among others, the British folk-experimental group Current 93 and the hyperkinetic Japanese band Melt-Banana.
Max Redinger, 14, who was walking his dog, picked up some anime books and Guitar Hero figures. He said he buys most of his music on iTunes but still likes going to record stores and mentioned that a friend had recently introduced him to an independent shop upstate.
“I don’t really buy stuff from it,” Mr. Redinger said, “but it’s a really cool place.”
Is REAL ESTATE coming back!!
We don't think so.
taking a position in the Ultrashort Real Estate (SRS):
Trade well,
Trader D
Pullback
The major indexes are sharply lower and the question is wether the bulls can rally another "buy on the dip" scenerio. Our out of the money July puts are kicking in nicely and we will be patient with the outcome.
Yingli Green Energy (YGE) has been one of the best performers in a strong sector. Will the trend and 21 day MA hold?? We like the risk/reward.
Trade well,
Trader D
Yingli Green Energy (YGE) has been one of the best performers in a strong sector. Will the trend and 21 day MA hold?? We like the risk/reward.
Trade well,
Trader D
Friday, June 12, 2009
Friday update
Bank of America (BAC) continues to move higher after the breakout:
Introducing a potential breakout - MR. CLEAN!
Clean Energy Fuel Corp (CLNE) is close to a breakout. With a short ratio over 10, a 20% return seems very reasonable....
Trade well,
Trader D
Introducing a potential breakout - MR. CLEAN!
Clean Energy Fuel Corp (CLNE) is close to a breakout. With a short ratio over 10, a 20% return seems very reasonable....
Trade well,
Trader D
Thursday, June 11, 2009
DIA
Without trying to beat a dead horse(?)..the DIA is once again at it's 200 day and NEEDS to close above it..
BAC continues to move higher and ILMN broke out today..Go ITM'ers!
Trade well,
Trader D
BAC continues to move higher and ILMN broke out today..Go ITM'ers!
Trade well,
Trader D
Wednesday, June 10, 2009
Last 1/2 hour summary
Here it is folks, the last 1/2 of the trading day. Send 'em higher like clockwork:
Trade well,
Trader D
Last 1/2 hour
The last 1/2 hour of the trading day will be very telling. If we do not rally into the close the stochastic levels will give their first "sell signal" for the major indexes. Stay tuned...
Trade well,
Trader D
Trade well,
Trader D
Tuesday, June 9, 2009
Wet N' Wild
With just a little more upside, Dryships (DRY) could be headed to $11. This is a very VOLATILE stock (ATR=.50) but can pay off if the timing is right.
Trade well,
Trader D
Monday, June 8, 2009
Failure
Failure to close above the 200 day EMA calls for caution at these levels.
Trade well,
Trader D
Friday, June 5, 2009
Thursday, June 4, 2009
BAC to basics
Here is the yearly chart of Bank of America (BAC):
And a more up close daily view:
Trade well,
Trader D
And a more up close daily view:
Trade well,
Trader D
Tuesday, June 2, 2009
VIX
When the VIX is high it's time to buy..when the VIX is low it's time to....GO??
Trade well,
Trader D
Monday, June 1, 2009
Sunny Day
As the markets rage upwards we are raising our stops. Sticking with URE even though we have a 22% profit in three trading days (stop @ 4.20)
Trade well,
Trader D
Trade well,
Trader D
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