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Keep your eyes open for a new tab above “FORUMS” where subscribers will be able to post messages and upload charts! I expect there will be some small bugs in the beginning but we will work them out quickly.
Brian Shannon;
I buy and sell mainly mutual funds and a small portion of my portfolio in stocks. I want to start trading options to increase my income due to the fact my job is ending in March of 2012. My account has about $100,000 and I want to generate an income from this to live and at the same time save money. What is the best way to invest this money to get the most income out of it? Do you think options are a good way to go? I also have a property with equity of $450,000.00. Should I cash out some money from the property to invest? What’s your opinion? I’ve worked for someone for 28 years and I want to now work for myself. What do you think?
Thank you
Gregory L
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Greg,
It sounds like you are looking to
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The intermediate term trends have turned neutral to slightly lower which gives us reason to be more cautious initiating new longs, but with longer term trends still higher it does not seem like a good idea to get aggressively short. The next few days will reveal whether this is a pullback in an uptrend (I think so) or the beginning of something bigger.
The intermediate term uptrend in the $SPY $XLF and $SMH has been broken and now we need to be more cautious until the markets are able to get back and hold above those levels. The $QQQ is still above its key intermediate term level, but it appears that market is due for at least a time correction after the large gains over the last month. Longer term trends are still higher as evidenced by the rising 20 & 50 day moving averages, for now we will treat this as a pullback/correction within those trends and look for a resumption of strength after selling has subsided and the markets stabilize. This process could take a few days.
click chart to enlarge
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Markets continue to hold above key interemediate term support levels and until they are broken the market remains “innocent until proven guilty” The video below takes a look at key levels and scenarios for trading in the $SPY $QQQ $IWM $XLF and $SMH.
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On August 5, Standard and Poor’s made this announcement United States of America Long-Term Rating Lowered To ‘AA+’ Due To Political Risks, Rising Debt Burden; Outlook Negative
The market wasn’t surprised by the announcement, it was rumored for at least a week before the actual announcement came. In fact, the real sell off began with a gap lower on July 27 (circled area on daily chart). Today, the market closed that gap after an uninterrupted rally of ~10% from the last significant pullback low.
Is this area going to be the elusive resistance that shorts have been looking for? It has the potential to be resistance and the short term action is indicating buyers may have run out of energy, but the trends are still higher. Picking a turning point (bottom or top) is one of
Continue readingSubscribers can access video with market wrap and a technical look at stock ideas including; $AMLN $NOG $NUS $OCZ $RTK $RVBD $BMRN $LLY $OPK $SODA $X and more.
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