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Wednesday, June 13, 2012
Tuesday, June 12, 2012
S&P500, SPY Charts
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Mad Money host Jim Cramer wants investors to pay attention to the S&P 500 at levels in the 1260s.
Monday, June 11, 2012
Inverted Head & Shoulders?
Subscribe in a reader So much for the rally this morning on the Spanish bank bailout. Market is looking forward to this weekends Greece election. S&P500 ($SPX) chart appears to be setting up an Inverted Head & Shoulders pattern, something to watch in coming days.
Friday, June 8, 2012
Where Is The S&P500 Heading? ~ UPDATE
Subscribe in a reader Back on May 14th, ITZ posted charts of the $SPX, $VIX & $NYMO with projected targets LINK. Below are updated charts
click on charts to expand images
Thursday, June 7, 2012
Tuesday, June 5, 2012
Short & Long Term Market Outlook
Subscribe in a reader Mad Money host Jim Cramer explains why investors could be a bit more bullish, so long as the S&P 500 can remain above 1250.
Sunday, June 3, 2012
Weekend Update 6-3-12: Gold, Oil, Copper, S&P500 & More....
Subscribe in a reader Sell in May and go away? May have been the action to take in this market. With Asian, European and U.S. markets declining by 8%, 7% and 6% respectively. The terrible PMI numbers out of China and Europe, combined with the weaker than expected U.S. May non farm payrolls data and other economic data, confirms that the global economy is contracting rapidly.
Brent crude oil is trading below US$100 and WTI crude nearing $80. Copper is lower, but probably has been shorted to such an extent that it fell just 4.0% last week. On the other hand, sovereign bond in the major markets are surging to levels, which suggest a major bubble has formed, as the fear trade continues. Will June offer any reprieve to equity investors?
click on chart to expand images
Buy Into Weakness, or Preserve Your Money?
Between weakness in Europe and a weak U.S. unemployment rate, how can investors find profits? Margie Patel, Wells Fargo Funds Management; Doug Sandler, RiverFront Investment Group; Tom Belesis, John Thomas Financial CEO, weigh in.
Friday, June 1, 2012
SPY & QQQ Update
Subscribe in a reader Crucial test on both ETFs, 200ma and H&S completions. But we also have a Bear Flag set up...any break low under 200ma and things will get ugly.
Jobs Report Update
Subscribe in a reader WOW! Only 69,000 jobs for May!
The U.S. added just 69,000 jobs in May, the smallest increase in a year, the government reported Friday. Economists surveyed by MarketWatch expected a 165,000 increase. The unemployment rate, meanwhile, rose to 8.2% from 8.1%, mainly because more people entered the labor force even as hiring slowed
Bureau of Labor Statistics LINK
WTI crude oil is trading near $82, ITZ added a 1/4 position yesterday ahead of the Jobs Report...read ...and is suggesting adding this morning to the Proshares UCO position. ITZ had been targeting $28, as this is being typed it is trading at $27 in pre-hours trading.
UCO entry points --1/4 positions each entry-- May 9 $36.70, May 23 $32.00, 5/31 $29.25 and today ...most likely around $27.00. Average cost basis should be about $31.
Thursday, May 31, 2012
Add To Proshares UCO
Subscribe in a reader ITZ suggests adding another 1/4 position into the Proshares Ultra Crude Oil (UCO) ETF here at $29.25, bring the position to 3/4. We'll see how markets react tomorrow on the BLS Jobs Report. ITZ has been looking to add at $28, we'll perhaps see that tomorrow and make a decision as to add remaining quarter position then.
Wednesday, May 30, 2012
WTI Oil Below $90 ....Oversold!
Subscribe in a reader The Weekly Petroleum Status Report will be released on Thursday, May 31, 2012 at 11:00 A.M. and 1:00 P.M. (Eastern Time) due to the closure of the Federal Government on Monday, May 28. LINK
ITZ has used the Gold:WTIC Ratio for some time now, we could see gold rally soon, ITZ still believes the yellow metal could rise to $2,000. If it does & the ratio say remains at 17, will place oil @ $118. Most plausible is gold rising to $1700, that would equate at a 17:1 ratio to $100 oil. CHART
ITZ oil trade has been Proshares Ultra Crude Oil ETF (UCO) --- entering 1/4 trades on May 9th @ $36.70, May 23rd @ $32 and now targeting $28 as the next 1/4 position entry point. UCO closed today at $30.07.
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