Long ES 778

Right at 100% Fib Ext. 4 point stop... 5 point target.

J

Looking to short the USD (DX futures)

anywhere north of the 50 spot

J

Long FAZ at 20

Looking for a 50% retracement from the last swing high to the diamond marked on the chart.

J

Looking at Shorting Oil at the apex of this wedge...

I may even take this tomorrow.

This one's for you James.

J

Covered C

Covered this at breakeven... Would like to see what we do around 800 in the ES.

J

Short C

Taking a short in C today - av. price 244. Blue circle.

J

ES daytrade

Took out half of my ES short at 755 - entry was the 3 spots higher... 767 being the 50% retrace off the 665 move, 771 double top and and a breakdown in the 2 min downtrend line. Stop moved to 763 on the remaining half.

J

MET

Selling 85% of my remaining MET here... keeping MFC (Canadian $)

More Current Positions

Here is a chart of TKO. The horizontal lines represent my stop moving up as we consolidate into a nice long term wedge. Long at a buck

PD.un is another - long 2.80 on the 11th. Stop is a close below 2.50 on the 2nd (daily) chart.

J

Possible SPY's target

Here's a Fib. circle... take this for what it's worth but it's been pretty good so far. Just helps give an idea as to where we may be headed.

J

Get MET ... it pays

Picked up some MET this week at 12.20. Looking at the horizontal line (gap fill) for the exit. Have already started taking profits on Thurs. and Fri.

Same sector... picked up MFC - still have 50% as the risk is now 0...

J

OPWV long

OPWV - long in the mid 60's at the greenish circle. Target is the 61.8% Fib retracement to the red line (which co-incides with a pivot point). Pretty good R:R. Stop out is a close below the upward trendline.

J

Current Positions

This blog is being updated mid-stream and I've been quite busy lately. Here are some current positions and their entry's.

First one is the ES... took a short at 751 Thurs. afternoon. We went as high as 758 after hours. Took a 4 point gain as the action Friday was still quite supportive of a move up. I will reshort at 767 again.

Long term, I'm looking much lower. The moves over the last several days/weeks have been classic bear; slow, painful and even apathetic with violent moves up. We did a 13% move off the bottom (665) in the S&P in 3 sessions.

In the above image, I took on this position as it appears the gaps have now been filled on the retrace. There is a bearish engulfing candle on the 23rd of Feb. (or thereabouts) and a 50% fib retracement at 767 off the 665 level.

Time will tell.

J

Shout out the gang at GD. You are always welcome to email questions/comments/concerns...

Best,
Jeff

Moment of Truth for Gold

Gold is continuing it's uptrend but I wouldn't be surprised if we broke down. USD has been quite strong so I'm keeping an on it as well.