2009 Stock Market Returns -The Dow Holds the TITLE, its time to Celebrate!
VisionVictoryManifesto.com
2009 Stock Market Returns
Dow Jones up 18.8%
S&P up 23%
Canada TSX up 31%
Germany DAX up 24%
UK FTSE Up 22%
Mexico IPC up 44%
China Shanghai up 80%
Hong Kong Hang Seng up 52%
S. Korea up 50%
Australia up 31%
Gold up 24%
Oil up 78%
Gas up 63%
American Express up 118%, best performing Dow stock.
EXON down 15%, worst performing Dow Stock
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VISIT: WWW.STOCKTOCK.COM for intraday commentary Today we looked at the last week’s action and how shorting the stock market and buying cheap calls for protection is probably going to pan out very well. We also own JPM puts and SPY puts. We look at the longer term ramifications and how the charts are showing a lot of bearish patterns which can eventually take us to the 825-840 buffer zone and maybe even new lows down the road. While a lot of people think that this market is going to either move up or crash hard, we believe that the pace of the downtrend will begin very moderately but will speed up once the wedge support line is broken. We also look at the SPY, XLF, AIG and GLD.
12-13-2009 Stock Market Video
Today we looked at many charts all around and have tried to make sense of the market action. While we got the strong pull back we expected early on in the day, the market did reverse and move higher making the daily S&P candle not so bearish. We still want a confirmation lower and a break of a trend line before we can get more bearish but the setup in other stocks excluding energy is to the downside. With the XLF showing huge down volume in the last 20 minutes it seems like we could see an H&S forming. Other tech look weak including BIDU, AAPL and AMZN (less weak). Financials including GS, and JPM sold off away from their highs and could be showing signs of a reversal or at least a prolonged consolidation. BAC is a very weak stock after it missed it’s earnings, with that in mind it might be worth shorting BAC and Citigroup ( C ) and going long the XLF as a hedge. I also expect WYNN to potentially hit lower lows.. but keep a stop at a descending resistance trendline, I have already gotten stopped out and i’m out of this position.
Today we look at the patterns that are showing up and what to expect into next week. I reveal my larger positions and the hedges that are placed in for next week. A potential downside of 3% or more remains as we try to aim for the support levels of the megaphone and wedge formations. I also look at the XLF, SPY, Dow Jones, GLD, AXP and AMZN.
Today we look at various stocks to see more justficiation that we could be topping in the markets. We look at today’s action on the SPY, and how we made a newer low and then consolidated for most of the day only to find more selling pressure at the end of the day. Tomorrow can be another push lower simply because the market wants to form a H&S formation, and the head needs to completely form (i.e. move to 978-980 level on the SPX), before the right shoulder can form. That said, one day of consolidation is not out of the question yet. Overall, you can’t be fully bearish until the market breaks the wedge support found around the 960 level but ascending. Today we took profits on most of our shorts including JPM, as we see a possible push higher on some of the stocks as they form their respective H&S. We look at GLD, which we got stopped out of, since it broke it’s triangle formation to the upside and that might be another sign of fear entering the market. If GLD was an inflation hedge, the market would have been up when GLD was up, but it’s down. We also look athe XLF, STEC, RIMM and AAPL.
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10 25 2009 Stock Market Video
Today we look at the SPY chart longer term, and talk about the fact that the market is showing similar signs to the action we saw 2 weeks ago, only one big thing has changed: The financials continue to underperform the market. Even though today was a commodity based rally due to weakness in the dollar, we believe that tomorrow will be the day that will decide wether this market is able to make new highs or if it’s going to go back lower to play the lower end of the wedge formation. We also talk about the JPM trade that we have on, and look at the financials XLF ETF that is forming a H&S.