Friday, December 14, 2012

McClellan looks Ominious

I have no call for Friday. I didn't like the action today ( 3:30) that call to the WH stopped what could have been a good oversold buy.
Will ponder this chart.
Many crossovers that make the market look  weak.

I may try a scalp.

My thoughts do the opposite of 9:40-9:45 since this is S3 yellow.

Wednesday, December 12, 2012


 Update  Thursday:

Had a $3 profit at 3:30 and was trying to sell zoom zoom up ( that damn white house).
Made onl $1.2 per but love to win.

I looked for a rally today as I said yesterday.
I had hoped to get overbought but only one of my 3 indicators turned positive.
We have been up 5 days in a row and surely can be 6.
I seen no volume or any change in anything to confirem todays rally but the rally is not over.
I did buy a few Oex puts on a gut feeling based more on this chart.
We have hit this brick wall area 5 times. We have the same candle as circled.
My thought is we could pull back for 1   1/2 days at this time.
Don't marry options sell if a profit.
The Fed has nothing to offer but does the White House.
Today I had a cycle hit H to H I hope.

Jerry O

Monday, December 10, 2012

Bullish Charts with P/c Oex 3.74

 Starting off with the Oex p/c ratio @ 3.74 not always but usually offers a big move I suspect up.

Chart to left is in bull town what comes next sooner or later bear town.You can stay overbought
longer than your money will last.
 This is a problem that the RR's are coming back. A cross of that red line could spook a rally.

 Spx with buy signals weeks ago and holding.
The strongest group is Cyclical or one of them and that is bullish as a basic group.