Indecision Bar For SPY

**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.**

“Go confidently in the direction of your dreams. Live the life you have imagined.”  Henry David Thoreau

With the weakness setting in hard Wednesday and me going to a near full cash position I took the night off and went skiing with some friends before the tiny ski hill we call a ski hill here closes this weekend.

Charts need to repair this damage so never forget cash is a position.

We took some nice profits and locked in some small losses with one that was a bit larger than I’d hoped but it happens.

As tempting as it is to revenge trade and get those losses back right away, I’ve learned the hard way many times that you only end up giving more back.

Waiting it out and preserving cash while new setups form is the best action and those bounce plays can come at anytime, but perhaps not quite yet.

I don’t take many nights off from homework but sometimes it’s best to just not look for a couple days too deeply and let your emotions and the charts settle out.

SPY March 27, 2015SPY is chopping around here between the 100 and 50 day moving averages for now and we have a Doji bar close which often signals indecision but we do need a higher close tomorrow to tell us a bottom is in for sure.

For now, it’s just speculation.

I bought 10 SPY weekly 205 puts at 0.71 as SPY found resistance at the 50 day but they didn’t really work so I sold them at the close for 0.59.

I’m just testing the market very small for now off levels and I did not have a perfect entry and took a small loss as a result.

I test things in very small size sometimes and that’s all this was.

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I keep words to a minimum and valuable information to the max.

Have a splendid evening and enjoy life while we wait for better signals.

Warren

Very Low Volume Rest

**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.**

“Cherish your visions and your dreams as they are the children of your soul; the blueprints of your ultimate achievements.”  Napoleon Hill

A very slow or dull day as they say, but ‘they’ sure aren’t always right, but they do say never short a dull market.

Volume pushing anything lower was very low and I wasn’t keen on selling much today, rather, holding and trying to let stocks work before we may see the usual end of week strength emerge.

I’d rather have seen the indexes close stronger, and they looked as they may before reversing back to close on lows.

It’s never great to close on lows but there is no conviction to this weakness at all yet.

That can change and I’ll be on it if need be.

SPY March 25, 2015Very, very light volume of the like we haven’t seen since Christmas.

This is quite positive.

When volume really dries up like this it tells me there just aren’t any sellers and the next move should be strongly higher.

I’d rather have seen SPY hold above 210 for sure but the chart is still quite positive.

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I keep words to a minimum and valuable information to the max.

Have a nice evening.

Warren

Damaging 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.**

“Anyone who thinks the sky is the limit, has limited imagination.”  Anonymous

A damaging day to many charts with biotech retracing some large moves but many are still holding up well and some are just breaking out now.

We should see strength return as the week rolls on.

SPY March 24, 2015SPY is just resting before it breaks back into new highs and really this is ideal action.

We were quickly approaching overbought readings so this rest will bring that reading down so we can really run nicely to the upside later this week, perhaps Wednesday, the move will begin.

As long as we remain above 210 on a closing basis we should be fine.

Low volume rest days are fine as we got today.

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I keep words to a minimum and valuable information to the max.

Have a great night.

Warren

More Room To Run

**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.**

“When a resolute young fellow steps up to the great bully, the world, and takes him boldly by the beard, he is often surprised to find it comes off in his hand, and that it was only tied on to scare away the timid adventurers.”  Ralph Waldo Emerson

A great Friday with stocks rocking in the right sectors and markets doing very well also.

Follow the trend and focus on leading sectors and you’ll do great.

SPY March 23, 2015Another solid move for SPY that is teetering on all-time highs and it does have some room to run still for a couple days before we hit overbought levels.

There are some awesome stock moves going on and we were lucky enough to be part of the BIIB large move Friday and I’m still in and looking for more.

There are other stocks who are set to make similar moves and I’ll look into those later in this letter as always.

If you’ve enjoyed this short intro to my nightly letter then why not subscribe at www.wizzentrading.com

I keep words to a minimum and valuable information to the max.

Have a wonderful weekend.

Warren

A Day To Rest With Direction Still Up

**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.**

A rest day as we move into quad witching Friday so who knows how they can go but we are still pointed higher and stocks are doing well in really the only sector to be in as I’ve talked about many times over the past couple years, bio and pharma.

SPY March 20, 2015SPY rested well at this resistance area of 210 and should move higher now either Friday or Monday to test 212.50 next.

If you’ve enjoyed this short intro to my nightly letter then why not subscribe at www.wizzentrading.com

I keep words to a minimum and valuable information to the max.

Have a wicked night.

Warren

Confirmed Breakout

**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.**

“Courage is the discovery that you may not win, and trying when you know you can lose.”  Tom Krause

A great day with a capital G.

Stocks broke out en masse after the Fed news and continued strongly along with markets.

Usually we see sharp moves up and down after Fed talk but this time it was just straight up.

I did some more buying and most of our stocks are doing well and just beginning to breakout in most cases.

We did have to book gains in ADXS unfortunately today at the $11.75 level from our buy at $8 a few weeks ago.

Great gains no doubt but I thought we may see more upside with markets and stocks starting to trend higher now.

Anyhow, them’s the breaks.

The metals also really took off hard today after starting to break lower Tuesday but gains on Fed talk don’t usually last too long in the metals so let’s see how that goes.

SPY March 19, 2015SPY is breaking out solidly here on strong volume and I’m taking advantage of it.

How long it will last I don’t know but so far so good and if all goes well this trend will last into May.

If you’ve enjoyed this short intro to my nightly letter then why not subscribe at www.wizzentrading.com

I keep words to a minimum and valuable information to the max.

Enjoy your evening.

Warren

Select Stocks Set To Breakout

**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.**

“May you be poor in misfortune,
Rich in blessings,
Slow to make enemies,
quick to make friends,
But rich or poor, quick or slow,
May you know nothing but happiness
From this day forward.”  
Irish toast

A bit of a slow day for the most part with stocks mostly consolidating and  taking the day off which is fine.

We are still looking like a low is in place but the tug of war between bulls and bears is on.

Some stocks are rocking and we’ve got some really nice buy points ready to go now in leaders so it could be time to get heavy right now and I did do a chunk of buying today, in one stock at least.

SPY March 18, 2015SPY is still fine and wants higher but it does need a good push.

With the Fed meeting and quad witching this week things could get wild.

If you’ve enjoyed this short intro to my nightly letter then why not subscribe at www.wizzentrading.com

I keep words to a minimum and valuable information to the max.

Warren