Thursday, January 22, 2015

Charts 01-22: New highs next week

We touched the far wall of a channel on my chart, so I could see us idle and trade sideways Friday and most of Monday, before setting up for a new high above the late December.



We might not make 2100 SPX, however, because the upper Bollinger is -- finally -- coming in fast to meet us.  We could pierce it by a few points, of course.

Here's the channel for the ending-diagonal.  I think the tell on this was the triangle wave for "b of 1" from a couple of days ago.  These are triplets -- we're nearing exhaustion.

SPX 01-22


The larger picture for Spring 2015, including an outright crash off the rate hike at the April FOMC.  Who ever thought 50 basis points could be so cruel?

SPX 01-22 6M

Robinhood.com account is now funded and ready to go!  My dry powder ($100) will sit tight with them for a few days, while I wait for an entry that makes sense, and they mine it for micro-pennies to keep the lights on.

Geeze you guys

Getting tired of all the short-term bear counts, the 1-2, 1-2 nonsense, the shoddy "head and shoulders" patterns proposed by people who should know better.

I'll stick with an ending-diagonal into FOMC next week.  This makes the most sense to me.

SPX one ... last ... high ...

Saturday, January 17, 2015

At last, a trading platform for Deflation Land - Robinhood.com

Robinhood.com is a radical new zero-commission broker, for investspeculators using devices running Apple's iOS.  They have no account minimums.  I think this is a very big deal.

I heard a few of my coworkers buzzing about this one, while they played around with it on their iPhones.  One had bought a single share of MSFT, which he would check daily and tend like a private garden, and the other was playing around with penny-stocks, where he had scalped a few pennies off some shares of a broken-down company called "Wetseal".

The logic of speculative trades, especially with small trades and low-end equities, changes mightily when you remove even an $8 commission from the math.  I can now buy a stock at .04, sell it for .05, and book a clean 25% profit from the trade.  I just need to be square with Uncle Sam at the end of the year so the Modern Monetary Theory guys don't sic the Marines on me.

This looks like a lot of fun to me, so I've opened an account for trades in Deflation Land.

One hundred dollars!

Once this clears, I'll start investing in the America and posting trades here from the account.  Of course, it will be most likely UVXY and XIV plays back and forth, because these are ETFs which I enjoy playing elsewhere.

No, I can't trade options, not yet, at any rate.  Wouldn't that be something?

And if the little fledgling Robinhood.com is swallowed up in the fire of a derivatives meltdown, whether of their own or someone else's making, hey, it's only a hundred bucks.

It's like I'm buying the blog a cashmere sweater or taking her out to dinner.

So let's trade!

Friday, January 16, 2015

Charts 01-16 a.m.: Quick update

That finally it for "4"?  We kept within the .382 range for this correction.

Just wanted to post a quick chart.  Outlook for Spring 2015 shifted a little but essentially the same.  Still looking for new highs and a touch of the top Bollinger Band before opening up an opportunity for true impulse waves lower, possibly much lower.

Yes, add a head & shoulders to the mix, with a neckline at the 200DMA at 1972 SPX.

SPX 01-16 a.m.