August 28th, 2008 richk
I am not heavy trading in last few weeks. I did only few trades with mixed results. Volume is too thin to trade.
I like idea of short gold trade. I plan to use Gold Ultra short ETF for this trade again. Now I need to see gold futures to make pullback up to 845 - 850 area. There I want to enter this trade. I expect new declines in gold.
There are not only reasons based on technical analysis but also some fundamentals are backing this my opinion. I am bearish on commodities in near future a lot.
Posted in ETF analysis, ETF trade setup, Stock chart analysis | No Comments »
August 23rd, 2008 richk
Corporate bonds are still under pressure and are not able to find strong buying interest. It looks like investors expect worse conditions and want to have bigger yield on corporate bonds.
It correspondents with analysis I read that lending is tightening in a lot of banks. It will be hard time for every company based on huge debt issuance.
So corporate bond ETF offers nice short opportunity in 101 area with target in new low.
Posted in ETF analysis, ETF trade setup | No Comments »
August 18th, 2008 richk
I like action provided by ETF representing Transport sector. This sector shows nice signs of relative strength. It is also near long term highs. Therefore I watch this sector for ETF trade and also different stocks in this sector for my swing stock trading strategy.
Posted in ETF analysis, ETF trade setup | No Comments »
August 10th, 2008 richk
As you can see on chart, GLD is near important support level. I closed my Gold shorts (via Ultra short ETF for Gold - DZZ) on Friday.
I am now waiting for bounce which allow me to enter new trade in gold - I expect that such bounce could offer good short setup for swing ETF trade
Posted in ETF analysis, ETF trade setup | No Comments »
August 7th, 2008 richk
I am not very active this week. FED meeting was one reason. Low volumes during last 2 weeks is another. I do no see this up move as very bullish. I still see it as possible short selling opportunity.
Especially European indexes are weak link. Check DAX, FTSE, IBEX etc… They will drop much more then US markets I think.
But as US markets are my main place for trading I preferably watch them. And I found relative weakness in Industrials sector. So I have prepared list of potential short swing trade candidates from this sector. It is also possile to trade it via Short ETF for Industrial sector.
Posted in ETF analysis, Stock market comment | No Comments »
July 24th, 2008 richk
I mentioned basic materials sector already as bearish trade opportunity.
Now it looks like this whole sector is headed down which means that Ultra short ETF tracking this sector can make breakout. See situation on chart
Posted in ETF analysis, ETF trade setup | No Comments »
July 22nd, 2008 richk
I monitor several coal stocks. They started to show important weakness. I think we could see one more move down in this Coal sector.
Posted in ETF analysis, Stock chart analysis | No Comments »
July 17th, 2008 richk
I have noticed bearish action in Basic Materials sector. This sector was one of strongest in past months. It looks like huge profit taking in this sector is taking place.
I noticed bearish chart pattern forming on chart of XLB - Basic Materials ETF.
Posted in ETF analysis | 1 Comment »
July 9th, 2008 richk
As I mentioned in my newsletter, supports finally hold markets and allowed them to move up.
My long entries in biotechnology stocks mentioned in my newsletter moved well together with announced drop in Energy sector (I am still long DUG and short some Energy names).
Biotechnology sector is only one that is worth watching for long trades. It is strongest one in current market situation. See chart below.
Final notice: we are still in downtrend so I plan to wait a day or two for new short trade setups in weakest sectors.
Posted in ETF analysis, ETF trade setup, Stock market comment | No Comments »
July 2nd, 2008 richk
During my regular stock chart analysis I noticed that Energy sector could be forming important top. There is possible to find something like head and shoulders stock chart pattern. This is bearish sign.
There are also negative bearish candlesticks on weekly chart during last 5 weeks or so.
I think we can expect significant correction in this sector. I prepared ETF stock trade setup with Inverse Ultra Short ETF for Energy sector - DUG - for such case.
Posted in ETF analysis, ETF trade setup | 1 Comment »
