Testimonials
"Nick called BCS barclays yesterday at 18 nearly at 19 now and up 12 points in london trading what a call by nick."
Manu S.
|
Free Archives Delayed - Join The Research Center To Get Real Time Premium Data
By Inthemoneystocks on June 29th, 2010 11:33am Eastern Time
|
|
|
Update
In last nights video, Chief Market Strategist Gareth Soloway discussed how the last candle of the day broke below the key triangular consolidation that had lasted for multiple days. While not confirmed, it was of extreme interest. Today, we see the results as the markets freaked out over China fears and Europe fears. Massive selling started overnight, the market gapping below (ITMS River Theory) $107.50 and dropping within an hour to the next mega support level given by InTheMoneyStocks, $104.50. After crossing this briefly (wiping out the weak handed stops), the market ripped higher again, bouncing almost a dollar to this point. At this stage the market has been weakened in a major way. Watch the $104.50 level. Should this break and confirm, the target on the SPY is $99.50 - $100.00. The W-V pattern on the daily has been negated and after being in a neutral to small upside bias, as mentioned in the video, it is now a neutral bias. Support is $104.50 and resistance is now $107.50.
Key Positions Update
CVX has dropped but not that much considering the massive crushing in the markets. A stop of $67.45 (approx 5-6%) will be used.
LOW is down just $.34 on the day, just hovering slightly below the entry price. Standard 10% stop on this play
CNAM has been crushed on the back of the Chinese fear from last night. An institution is dumping blocks of 25-50k. If this closes below $3.25, it will be sold.
|
|
By Inthemoneystocks on June 28th, 2010 11:44pm Eastern Time
|
|
|
The Trade: Bonds have been soaring as of late as fear enters the market, therefore, yields have been down sharply and are near 3.00% on the 10 yr T-Note. Traders can look to enter the TBF when the 10 Year T-Note Interest Rate reaches 2.89%. This should be a very important support area for a bounce. When looking at recent calculations of time and price the ten year should have time support around the July 3rd - 5th time period which would line up with the current short term(mid cycle) for stocks. However, the 2.89% level still looks very attractive as we are almost at the early July time period already.
Traders can look to sell 1/2 of the TBF when the 10 yr T-Note Interest Rate chart reaches 3.07% and the rest at 3.25%. Once the first half of the trade triggers please move the stop loss on the trade to break even to secure a winning trade. Please risk 0.20 basis points on the trade, therfore, the stop loss is around 2.69% on the 10 yr T-Note Interest Rate chart. Once the trade is activated I will be able to give you numbers on the TBF. However, the TBF and the TBT are just trading vehicles to use off the $TNX(10 year T-Note Interest rate chart). Institutional traders can just use the 10 yr T-Note futures chart.
*** More aggressive traders can buy the TBT (which is a 2x short the 20yr + Treasury)
|
|
By Inthemoneystocks on June 28th, 2010 9:12pm Eastern Time
|
|
|
The Retail HOLDRs (ETF) (NYSE:RTH) has slammed into major support at $89.00 - $89.50. Short term it is oversold and has a high probability of bounce. Should it fail to hold this level, it will have a significant support level at $86.00 - $86.50.
The retail sector has been slammed lately as the realization that the massive retail sales of late 2009 and early 2010 were somewhat false due to pent up demand for goods from the previous two years. As this buying subsides reality sets back in. We discussed this in depth in the first quarter of 2010 and called this exact issue. While the retailers have fallen drastically, as always there is a possible trade on each side. There may be a short term bounce here around $89.00. In addition, should this fail to hold, another big level will be bounce worthy at $86.00.
RealTick graphics used with permission of Townsend Analytics, Ltd. ©1986-2010 Townsend Analytics, Ltd. All Rights Reserved. RealTick is a registered trademark of Townsend Analytics, Ltd |
|
By Inthemoneystocks on June 25th, 2010 9:43am Eastern Time
|
|
|
Slowly accumulating a few longs.
|
|
By Inthemoneystocks on June 24th, 2010 7:18pm Eastern Time
|
|
|
There is a high probability of a bounce here on LOW. Should $21.25 not hold, the stock could fall to $19.25.
RealTick graphics used with permission of Townsend Analytics, Ltd. ©1986-2010 Townsend Analytics, Ltd. All Rights Reserved. RealTick is a registered trademark of Townsend Analytics, Ltd
*Note: No email or text alert sent as this was posted after the market closed.
|
|
By Inthemoneystocks on June 24th, 2010 11:11am Eastern Time
|
|
|
Full position is now held.
1st Entry $72.35
2nd Entry $70.80
Avereage of position $71.57
The SPY just hit the next major support at $107.50. This may be a significant low.
|
|
By Inthemoneystocks on June 23rd, 2010 11:56pm Eastern Time
|
|
|
The Trade: Home Depot Inc (NYSE:HD) is nearing an important support area around the $30.00 level and could see a sharp technical bounce from an oversold condition. Traders can buy HD long around the $30.00 - $29.75 area. The Ultimate target is $32.12. Please take 1/3 -1/2 of the trade off the table after a 1.00 point gain and move the stop loss to break even. Risk $1.59 from the entry.
Important Note: Should the stock gap down below the 30.00 - 29.75 entry level do not take the trade. In that case traders can go long at $29.44 - $ 29.25. Risk $1.59 from that entry if needed.
Market Condition Note: It is always important to know the weather outside. The current mid cycle (Short term trading cycle) is down into late June or early July. Therefore, a short term market bounce is anticipated around this time(late June and early July). Short term trend changes often occur around major holiday's. Sometimes these cycles can occur early, however, it is important to not overload in positions at this time.
|
|
By Inthemoneystocks on June 23rd, 2010 3:12pm Eastern Time
|
