Subscribe in a reader ITZ was targeting $93, yesterday's low was $93.94. We're getting a reversal break out in the 1 hour chart, it appears that $98 will be retested.
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Friday, August 31, 2012
Crude Oil Update
Subscribe in a reader ITZ was targeting $93, yesterday's low was $93.94. We're getting a reversal break out in the 1 hour chart, it appears that $98 will be retested.
Thursday, August 30, 2012
Crude Oil Selling Off
Subscribe in a reader WTI Crude oil on the futures chart hit resistance @ $98 and in a sixty minute chart heading toward $93, ahead of Ben Bernanke & Jackson Hole this Friday.
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Thursday, August 23, 2012
ITZ Stock PIX; Update
Subscribe in a reader Position Update:
Silver Wheaton (SLW) 1/2 position 4/17 $30, 1/4 position 5/8 $26.75 & 1/4 position 5/9 $26.75 set STOP @ $32 chart
Freeport McMoran (FCX) 1/2 position 4/5 $38 & 5/14 $34.80 1/2 position --set STOP@ $34 chart
Apple (AAPL) 1/4 position 4/24 $559 / 1/4 position 5/17 $539 / 1/4 position @ $588 on 7/23 & 1/4 position $572 on 7/25 --set STOP @ 50ma around $625 chart
Qualcomm (QCOM) 1/4 position 4/24 $61.40 / 1/4 position $58.50 5/17 & 1/4 position @ $57 on 5/17 --set STOP @ $60 chart
Starbucks (SBUX) 1/2 position 5/10 $52.50 & 1/4 @ $43.90 on 8/6 --set STOP @ $46.50 chart
Proshares Ultra ProShort S&P500 (SPXU) 1/4 position 8/17 $41.00 & 1/4 @ $40.15 8/21 --set STOP $41.25 chart
Proshares Ultra Short Crude Oil (SCO) 1/4 position @ $37.50 on 8/17 & 1/4 positon $36.50 8/21 --set STOP @ $36 chart
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Gold & Silver Testing Resistance
Subscribe in a reader Gold futures broke that minor resistance trendline, but is now running up against major resistance $1675. RSI is overbought, look for a near term pullback before an attempt to break higher. As with gold, silver is up against major resistance as well.
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Tuesday, August 21, 2012
Gold Breaking Out?
Subscribe in a reader Gold appears to be breaking out here as well as silver. ITZ takes a look at the 8 hour, daily & weekly futures charts of gold.
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Friday, August 17, 2012
Near Term Top In Oil
Subscribe in a reader ITZ suggests if you're long WTI Crude Oil via Proshares Ultra Crude ETF (UCO) to reduce position and consider taking a position into Proshares Ultra Short Crude Oil SCO.
WTI is testing the $96 level...ITZ has targeted $96/$97 as a near term top level.
ITZ is entering a 1/4 position in SCO around $37.50 Past ITZ Oil Post
Markets Overbought Hedge With This ETF
Subscribe in a reader ITZ is taking a 1/4 position in Proshares Ultra ProShort S&P500 ETF (SPXU) around $41
$SPXA150R S&P 500 Stocks Above 150-Day Moving Average
Thursday, August 16, 2012
WTI Crude Oil Near Term Overbought
Subscribe in a reader ITZ sees a bit more upside here for WTI Crude Oil on the futures charts, below are the 1 hour & 8 hour chart. ITZ suggests using Proshares Ultra Crude Oil ETF (UCO) & Proshares Ultra Short Crude Oil (SCO).
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Silver Wheaton (SLW) Breaking Higher
Subscribe in a reader Silver Wheaton is finally breaking higher, ITZ noted a few weeks ago SLW was set to breakout read
Tuesday, August 14, 2012
Is The Euro Set To Rally?
Subscribe in a reader The FXE tracks the movement of the euro against the U.S. Dollar Index. Mad Money host Jim Cramer, takes a look at the chart to see where the currencies could be headed. Video Link
Apple (AAPL) Update 8-14-12
Subscribe in a reader Apple is approaching the April 10th intraday high of $641.25
Past ITZ posts July 10th July 25th
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