Slow And Steady As She Goes

**These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups.  Subscribe to my nightly Daily Trade Ideas on the right to see the rest of this letter.**

“Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria” – Sir John Templeton

I do love the above quote.

There sure is a lot of pessimism around these days!

We’re seeing great acting stocks and markets who are trending higher and not getting carried away at all yet.

I’m still hearing a lot of talk about corrections and the lot and I love it!

I have decided to open up entry into my real-time service for a few days over Thanksgiving.

You can subscriber at http://wizzentrading.com and it is $150 to take you until mid-January and this does include my nightly letter in full.

Alerts are sent via email, twitter and text.

You will be amazed at how quickly you make money, especially if stocks really begin to move and we can use more options.

SPY November 26, 2014SPY is looking good and just setting up another consolidation for now.

Lately we’ve been breaking higher and consolidating within a 2 point range before breaking out again.

I could handle this type of move for a long time but who knows.

I am half expecting a spike into December and then a decent correction over the holidays, but time will tell.

Have a nice evening.

Warren

Great Start To Holiday Week

**These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups.  Subscribe to my nightly Daily Trade Ideas on the right to see the rest of this letter.**

Every day I get up and look through the Forbes list of the richest people in America.  If I’m not there, I go to work.  Robert Orben

A superb Monday to start off this holiday week.

Nice action from leading stocks and markets are what I love to see and that is what we saw today.

Our stocks are working very nicely for us with the exception of GPRO which should soon come back.

I’m quite heavy into stocks and hope to be remain so into the end of the year.

SPY November 25, 2014Good stuff from the SPY ETF although more volume would be nice.

As long as we stay above 206 for now we’re all good and should be heavy into stocks.

Many stocks are already on the move and chasing is never the best idea but there are still some setups that look good, and ready to move.

Enjoy the night and this short week.

Warren

Fade To Gap

**These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups.  Subscribe to my nightly Daily Trade Ideas on the right to see the rest of this letter.**

“Trading Stocks is simple mathematics2+2= 4 but our greed makes it 5 and our panic makes it 3.”  Feroz Ahmed Khan

A great Friday with China’s rate cut giving us a large gap open which did fade to fill the gap before moving higher a bit again.

All in all, a great breakout with, finally, increasing volume.

As I’ve been saying, there is lots of cash sitting, just waiting for an excuse to be put to work and we may have that excuse now.

Although we could us a correction, markets can continue to rise no matter what you or I or anyone else thinks or says.

I try not to listen to others, nor myself, and listen to the market and action alone although

I’m not, nor will I ever be, perfect in that regard.

I’m only human after-all and so many variable effect our emotions and actions but that’s why I have trading rules which help in that regard.

SPY November 24, 2014Good stuff from SPY and finally on increasing volume.

This could be the break we need for a nice run now but if we do move back under 206 then I’ll be raising cash and looking for a small correction perhaps even back to the 200 level.

Have a great weekend.

Warren

Weakness Can’t Get Traction

**These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups.  Subscribe to my nightly Daily Trade Ideas on the right to see the rest of this letter.**

“Easiest way to earn money in stock Market.  Ask a layman to trade, Sell whatever he buys, Buy whatever he sells.”  Hrishikesh SenGupta

Markets started off weak but they couldn’t gain any traction to the downside as usual.

It seems everyone is trying to press on the downside but it just isn’t working.

Sure, a small correction would be great and fine but if it isn’t to be it isn’t to be.

This tells me, there is a ton of money sitting on the sidelines and it just needs an excuse to be put to work.

We could be on the cusp of a major and rapid move higher.

I’m ready and pretty well positioned already and have a few more on my shopping list.

SPY November 21, 2014SPY is fine and just setting up another bull flag type of pattern although the pole is nonexistent.

Still though, it looks good and ready for higher prices.

A break above 206 is the next buy point.

Enjoy your night and consider subscribing to my nightly Daily Trade Ideas to make them your own!

Warren

Leading Stocks Acting Poorly

**These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups.  Subscribe to my nightly Daily Trade Ideas on the right to see the rest of this letter.**

“There is only one success — to be able to spend your life in your own way.”  CHRISTOPHER MORLEY

We’re still holding into the breakout level in the SPY and that is great but leading stocks just aren’t performing up to snuff.

IWM was quite weak today, as risk remains off, and that isn’t so great.

I do like to see all 3 US major markets moving higher together but I can’t always get what I want.

SPY November 20, 2014SPY is holding the breakout area still so there isn’t much to do other than be long although many traders really, really do want a correction right now.

Seeing leading stocks weak is worrying and we may well now see this breakout fail and that will have me raising cash.

Enjoy the evening.

Warren

SPY Breakout Right On Schedule

**These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups.  Subscribe to my nightly Daily Trade Ideas on the right to see the rest of this letter.**

“There is only one success — to be able to spend your life in your own way.”  CHRISTOPHER MORLEY

A nice gap and go type of day for the S&P right on schedule.

Many metrics still say that the S&P is still overbought but those are lagging indicators which I don’t hold any regard for.

Markets can move higher whether they should or not when talking about indicators like the RSI, MACD, stochastic or whatnot.

I do show them on charts in this letter but honestly, I don’t look at them.

On my trading charts there are no indicators, just price and volume and a few moving averages.

SPY November 19, 2014A nice move from the SPY ETF although higher volume would be ideal but volume doesn’t make us money and we’ve seen moves on lighter volume really work well so this could be the start of that type of move once again.

We should continue higher now but a move back into the flag would be a sell signal and reducing stock sizes would also be a good idea in that case.

There does seem to be a lot of resistance to this move higher and that is good, it’s when everyone is on it that I get worried.

Even some of the traders who I have the highest regard for are wanting a correction and they are usually on my side, but not yet this time.

Have a swell evening.

Warren

Another Solid Rest Day

**These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups.  Subscribe to my nightly Daily Trade Ideas on the right to see the rest of this letter.**

“Trade what you see not what you think.”  Unknown

Another rest day for markets and many stocks.

There isn’t much to say other than things remain looking good and our recent overbought condition is totally gone now meaning we can resume the move higher at any time.

SPY November 18, 2014SPY is still acting great here and consolidating in a high level flag that should resolve to the upside now by Wednesday.

Good stuff if it works and I don’t see why it won’t, although stocks aren’t showing me great patterns at the moment.

Not that stocks are bearish, they are just a bit sloppy at this time.

Have a nice night as we wait for new buy points to emerge.

Warren