Markets are down over 1% with the Dow down 150 points. We got the pullback that we were waiting for down to the 100 day moving average (purple line) but, we pierced that as well and are now holding on to the 150 day (blue line) just underneath the 100. Apparently the market did not…

We are not taking any action today. Since the market is basically flat again today awaiting direction from the Fed, we are going to focus on one of our core holdings- Schlumberger (SLB). First of all, it is showing a nice setup. (Look at the chart below). But what are the reasons behind its recent rally despite…

Here’s a roundup of important data for you to digest from the last two weeks: China growth is slowing but still robust at 7.5%. U.S. grew at expected 1.5% this quarter (not bad considering our terrible unemployment). Housing numbers up for 4 straight months, and consumer confidence increased this July after 4 consecutive disappointing numbers….

The Dow is flat today- a good sign after 400 consecutive up points last week. JP Morgan continues to work higher as well. Folks, we made it out of the trading range last Friday! So stage two confirmation is now awaiting. We are looking for a pullback to the previous breakout, or 100 day line (purple…

The market looks enticing to buy here, but don’t let cash burn a hole in your pocket. This is the same setup from last week. Yes, we are above the 100 (purple line) and holding so far. But we need confirmation! I know, I know… you are tired of hearing that. But look at the chart- we…

After a few days of battering in the portfolio, our stocks bounced back with vengeance. Nothing to get excited about as they are all up against a form of resistance and are not pushing any higher as a result. This is occurring because either a moving average is in the way or stocks are at…

Hey if you want to short this market go ahead. Keith McCullough and other top traders are definitely winning on those bets. Read their tweets (right column). But we don’t trade here. If you want to I suggest buying SDS or SPXU, the double and triple short S&P 500 etfs. If you want to do…

We are going to start our first round of buying aimed at the strongest names in the portfolio. We are adding to the S&P 500 (UPRO), MOS, and would like to add to VMW but we should not get too aggressive today until we see clarity. We cannot buy everything in sight just because we…

So, patience paid off today as the S&P failed the 100 day support (purple line) or, the 1375 level that everyone refers to. Many traders were out to short at 1375 but, like I always say, on this site we take the traditional approach to investing. That means we don’t try to time the market…

Today we opened above the 100 but now the SPX is at resistance of 1375- 1378. We are waiting for confirmation, maybe today or Monday, to see if we hold the 100 or surpass 1378. On another note, we sold TNH for a small gain today. Liking the setup in TNH very much because of…