Ya Baby!

**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.**

“Never let your memories be greater than your dreams.” ~Doug Ivester

A nice quite Friday again while stocks and markets are still acting positively.

Next week will be very telling.

We need this strength to continue and we have some big earnings numbers coming from heavyweight leaders like AAPL and GOOGL so it could get pretty fun if all stays as it is.

SPY January 26, 2015Fine stuff from SPY that looks to be heading to 207.50 right away.

This uptrend is just beginning and dips should be bought until they stop working.

I’d love to see a few months of great action but only time will tell.

So far so good though and I’m still heavy into stocks, something that I haven’t done in a long time but I’d like to remain heavy for months.

We didn’t have the best close Friday but that is fine for now but something to keep an eye on.

I prefer to see strong closes and I’m always ready to sell or reduce if I see weakness appear.

Have a wicked weekend.

Warren

Finally Stocks Are Acting Right

**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.**

“What the mind of man can conceive and believe, it can achieve.” ~Napoleon Hill

Aaaahhh, it’s so nice to finally see a market and stocks that are working after such a long time with false breakouts and short moves.

Who knows how long it will last but so far so good and the leading stocks are behaving much different and great since NFLX reported good earnings earlier in the week.

When the the getting is good I have to get it.

I am all in and on full margin now.

SPY January 23, 2015A great move in the SPY on increasing volume which is what I like to see.

207.50 should be next and then we see how the action is.

I took some flack last night for calling it go time but the behavior of leading stocks had changed and I noticed that and said so.

It’s not my problem if people cannot see the forest through the trees but I can, and do.

Have a nice night.

Warren

Go Time

**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.**

“It’s not whether you get knocked down, it’s whether you get up.” ~Vince Lombardi

A good day for stocks and markets.

The great NFLX numbers seem to have lit a spark under the leading stocks and that is good.  It looks like it is time to really buckle down and make our hay for the year.

There should be some spectacular moves to come and I’ve not been this heavy into stocks in a while now and I’m looking to get much heavier.

It’s time!

SPY January 22, 2015A good day but on low volume.

We should now see a break of the downtrend line Thursday on very heavy volume and then we are off to the races.

Markets are finally seeming to be ready to get going with the action I’ve seen the last two days which is very different, and positive, than what we’ve seen for about a year now.

Get ready to hang on and get heavy into stocks now.

We only have a couple or few good times a year to make money and it looks like we may be starting one right now.

Warren

NFLX Up Large Bodes Well For Everything Else

**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.**

“You miss 100% of the shots you don’t take.” ~ Wayne Gretzky

A solid gap open which was quickly faded before markets moved back higher to close near the highs of the day.

Earnings season is really ramping up this week with IBM and NFLX today and many more as the week progresses.

Banks last week set the tone as bearish for earnings season and stocks nor markets looked great in general but NFLX tonight changes that.

I’m still not really doing much, just playing small if at all but I am short a little AMZN now and long some FRO.

I tried to short a little IQNT today but took a small loss as happens at times.

If NFLX can hold tonights large gap then we should expect the leaders to reemerge as leaders as they report good earnings.

Let’s begin with the index charts and still, caution is imperative in this market so small, selective trades are key using tight stops for now.

I remind you that I am starting another round of real-time trading which sends out email, twitter and text alerts for trades I make getting you in and out of trades at the right time.

All can be done from a smartphone with ease.

I’ll take this round of real-time trading until mid-June in order to take advantage of the usual winter strength.

You can find out more at www.wizzentrading.com

SPY January 20, 2015SPY is still between the 202.50 and 198.50 areas.

It still looks to want lower but with a big move from NFLX so far tonight on earnings it may move us nicely higher now.

I’d love to see a nice move higher tomorrow and that would be a buy signal instantly, not even waiting the normal half hour of the day before taking a trade.

Let’s see how it plays out but I’d not be surprised to see a few strong days in a row.

Have a nice night.

Warren

Living On The Edge

**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.**

“Don’t wish it were easier, wish you were better.” ~Jim Rohn

A pretty quiet Friday after a wild ride all week long was nice to see and now we’ve got a long weekend.

To be honest, I though next weekend was the long weekend and was planning to run away and do some skiing for a few days but discovering late Friday that this was the long weekend put the kibosh on that plan.

Living in Canada, I’m not so up on the long weekends sometimes.

Anyhow, we’re closed Monday and I’ll be very curious to see how markets around the world and metals trade.

US markets still are very sloppy, and that means weak, so trading small and cautiously is key.

I really didn’t do much Friday except try a little GS which I was stopped out of $1 under my buy point and that is fine.

Enjoy your long weekend, now let’s dive into the charts and see what I can see.

SPY January 20, 2015SPY is so far holding the 100 day average area but is building a small bear flag which points to a move lower.

We should see a move to the 200 day in the week ahead so shorting small at the 202 to 202.50 area looks viable and then adding to the position on a move under 199 then 198 for a break to the 200 day at 195 seems to be a play I’ll be looking at.

I hope you enjoyed your long weekend.

Warren

More Volatility As Stocks Look For Lower Yet

**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.**

“Just keep going. Everybody gets better if they keep at it.” ~Ted Williams

Another wild day with a heavy gap lower for S&P futures some 20 handles before the open only to see it reverse up to positive 10 all before we even opened for the day.

Gold took off as well, all on news of the Swiss unlocking their currency, even after they said it was foundational and locked just a few days ago.

You just can’t trust anything anybody says in government.

We got stung in our DUST trade and that is no fun.

We did do some small day-trading today which ended up nice for us but there is no way I can hold overnight in this uncertain market.

Quick trades are the only way to go as the price will almost assuredly reverse very quickly.

The dominant trend is lower now but it isn’t easy to hold onto positions in that trend so I am not, yet anyhow.

SPY January 16, 2015SPY is trying to break the 100 day now and so close to really releasing on the downside.

The way things are going, we will likely see a gap lower and miss the move but who the hell knows these days.

Begin very careful, selective and playing very small is all I can do in good conscience.

This type of market will make you go broke quickly so protecting capital while playing a bit is key.

Good and easy trades always come from these sloppy times so waiting for them to return is key.

195 is the next major support level.

Have a nice night and well deserved weekend ahead if you survived this week.

Warren

To Continue To Roll Over Or To Bounce Off The 100 MA Is The Question

**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.**

“Action is the foundational key to all success ~Pablo Picasso

Another tricky day with a good sized gap open which then promptly failed but then we rallied off lows in the markets.

Things are just making no sense so playing small and carefully is key.

Gold looks ready to roll over again here as the miners signaled to us Tuesday but really, who knows what will happen the way things have been behaving lately.

Oil had a large and strong pop late in the day as well so that is something to keep our eyes on.

I’m not sure a low is in yet but this upside behavior is not something we are accustomed to.

SPY January 15, 2015SPY is holding the 100 day here and last time we did this we saw a huge quick rally but gap ups were hard to catch and play.

I am no clairvoyant so I am not playing this for a potential gap up tomorrow but I will surely kick myself for missing it if we do run up from here.

Tough conditions remain so small positions are key and quick trades in some cases as well are the only way to go.

Be very careful.

Warren