Mputrino

Mputrino

The XLKs gapped up after breaking through the $70 - 72 resistance zone and are very overbought. The last four times that they were this overbought – last July, August, October and again in February, a meaningful selloff followed. Look for some consolidation or short-term profit taking. My definition of 'overbought' means that they are trading more than two...

Mputrino

I do not take this post lightly. I was in NYC on September 11th, 2001. At the time I was trading for a hedge fund that was located in mid-town. I had many friends that died that day. My wife worked at the American Stock Exchange, which was literally across the street from the World Trade Center. She saw people jumping. To me, it is clear that there were...

Mputrino

The XLEs finally broke support at $74. I put my short on yesterday at $73. My buy stop is $74 ad my cover target is $69.

Mputrino

So...just two weeks ago civilization was going to collapse due to Trade Wars. Remember that? Companies were going to go bankrupt, markets were going to collapse, and farmers were going to starve to death amidst heaps of rotting soybeans. Yet somehow, against overwhelming odds, humanity weathered that storm and survived only to see the next calamity unfold...the...

Mputrino

I am watching Zillow for a long idea here. It is trading at the same levels that were resistance in April and late February. It is also where the top was last summer. If it closes at or near its highs today I will buy some at the close. My sell stop will be $47.75. I think that makes sense because it is todays low (so far). My sell target will be $56 because...

Mputrino Updated 

I am watching EMHTF for a potential buy. It has broken important support at the $3 level and is in a freefall. There may be a tradable 'dead cat' bounce off of the $2 level. It is oversold, and the $2 level was resistance and support last November. It is also important psychologically. If it gets to $2 and starts to rally I would be a buyer. My stop out...

Mputrino Updated 

S&P 500 – The SPYs are consolidating right at the important $280 level. This level is important because it was the top in February, March, and mid-June. I think that the next few days will be very interesting and could be indicative of what the next few weeks will bring. If this level doesn’t hold we could see a fast and meaningful selloff. If it does...

Mputrino

I am watching the XLEs for a potential short. If the $74 level breaks and they get to $73 I will short them. My stop-out will be $74. This is a logical level to have it at because it has been support since May. If it does break to the downside, it will most likely become a resistance level. A break back above this could mean it is going to rally back up to...

Mputrino Updated 

MY TRADING RULES: IT IS MORE IMPORTANT TO KNOW HOW TO SELL THAN TO KNOW WHAT TO BUY YOU SHOULD NOT ENTER A POSITION WITHOUT HAVING YOUR TWO SELL STRATEGIS DEFINED CONSIDER THE POSITION-SIZING DYNAMICS LEARN HOW TO DEVELOP YOUR OWN IDEAS HAVE A VALID REASON TO TRADE DON'T BE MARRIED TO AN IDEA I like this trading idea because it meets my seven...

Mputrino Updated 

Unbelievable. For the last two week all we heard from the Fake News Financial Media was Blah Blah Blah....trade war this, trade war that, market down due to trade wars, market up due to trade war tensions Blah Blah Blah Blah!!! And as I pointed out in my earlier post, this was all Fake News. The market was barely moving and the Media was completely wrong in...

Mputrino Updated 

Since the March, GS has rallied in the first half of each month and sold off in the second half of each month. Now it has broken its short-term downtrend and it could be time to buy. I would use $220 for a stop out because that has been the recent low. I would sell it when it breaks the uptrend...which I assume will be sometime during the middle of the month.

Mputrino

The most important thing that I am watching this week in the equities market is the SPYs and how they handle the $280 level. As expected, they ran into resistance at that level after the recent rally. They also hit resistance there in February, March, and mid-June so it is not surprising that there is resistance at this level. Each of these prior three times...

Mputrino

I think that the most important thing to watch in the equities market this week is the action in the Technology Sector...the XLKs. They are testing an important resistance at the $71 level. This level is important because it was an all-time high in March, followed by a quick selloff. Then it became support throughout most of May. If the XLKs fail here they...

Mputrino

S&P 500 – Despite all of the hysteria about how the so-called ‘Trade War’ has markets plummeting, the SPYs are right back to the same level that they were at when the Fake News Financial Media started reporting this ‘story’. They have broken their recent downtrend after finding support around the $268 level, which was the same level as the low on May 29th. ...

Mputrino

I really can't stand most of the financial news media. They are seriously like a pack of lemmings just following each other around mindlessly. Personally, I think that CNBC has probably lost more money for people than Madoff and Ponzi combined. Let me review the news of the past two weeks with regards to the so-called 'Trade War'. 'Markets fall on trade war...