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SharePlanner (< 20)

Trading Plan for July 12, 2010



July 12, 2010 – Comments (2)

Current Long Positions (stop-losses in parentheses): QQQQ (Hedge)

Current Short Positions (stop-losses in parentheses): ESV (42.84), MR (33.39), SPY (109.07), NUS (27.59)

BIAS: Neutral

Economic Reports Due Out (Times are EST): None

My Observations and What to Expect:

- Earnings for Alcoa is  released today. Alcoa sets the stage for the earnings season.

- The rally seen last week makes me think that we will see the market sell the earnings.

- Market is neither overbought nor oversold on any significant indicator at this point.

- Volume continues to drop off in a major way - further evidence of a dead-cat bounce.

- No major news scheduled, could make for a quiet open.

- Continue to watch BP efforts to plug the hole in the Gulf, and the affects it has on the markets, and - energy in particular as a result.

- S&P rally beyond 1090ish seems unlikely. Rally is probably coming to an end here, real soon, if this is indeed a bull-trap. All indications says it is.

Actions I Will Be Taking:


2 Comments – Post Your Own

#1) On July 12, 2010 at 7:25 AM, ragedmaximus (< 20) wrote:

 All the info I've been reading all weekend is that technically speaking from other chart analysts we might suck up positive 2 days but I'm thinking (guessing) no more than plus 50 green up dow and that's being generous.The futures are or were negative 44 dow this morning and all other chart readings are dow dow alot this week. So I'm torn with going dxd dow short etf or FAZ 3xfinancial short etf. I did buy ERY friday.I seriously think the best way to play this market is long and short etfs week to week .I'll let you fools know in a few weeks how my etf strategy is working for me ,like a chess game .

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#2) On July 12, 2010 at 1:39 PM, SharePlanner (< 20) wrote:

I agree with your market insight - my only other thoughts are the more leveraged ETF, the shorter the time-frame I would trade them in.

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