Good Afternoon,

Sorry for the missing posts late last week and yesterday.  I feel like the "Fall Semester" and back to school "business like" attitude of the markets and of my clients are catching up all at once.  I can't complain, business is good, but I have to leave time for the markets, my son, my workout, and Deer Valley Wednesday night concerts with the wife.  And the house guests, and on and on and on....

So a special thank you to my blog readers, I promise to be more scheduled from here forward as the markets should give me something to talk about! So that is my storey and I am sticking to it, the summer markets kept me OUT of the market on a regular basis, hence the missing blogs, but I am hopeful that we start to see nice intraday moves once again. I am hopeful....

Today was fun!  The forex markets for the most part came to a screetching halt and found, what was that, yes, a RANGE.  The EUR/USD did have the most intrady swings, providing not one, but two DOUBLE FALL LINE TRADES:

The GBP (on a longer term chart) found a bottom (as did the equity markets) and if you haven't learned that correlation, than you better find some education (me!). I am expecting a bounce in the GBP (depends on claims and Bernanke), but overall I am looking for 1.52 in the GBP.

On to the equity charts. The SPY found some support, but ultimately, it seems like we are going to test 101 again, but I think a bounce may happen first.  Another lower high, thank you very much (AKA Failure) and then the lower low. What is below 101? Look at the 2 year chart, AKA, the BLACK HOLE.

If you want to buy oil, take a look at support in oil futures and then the oil ETF, USO. The September 31's are giving you 1.3% and assignment happens if the stock drops an additional 4%.

I will post some "relationship-based trading" charts tomorrow on the USD/CAD "oil trade".

Next up, we have our socially responsible investing tip and, COVERED CALL HEAVEN in the form of First Solar, FSLR:

And finally, our LEADER??

Look out below! I don't think it is happening tomorrow (initial claims could do it though) or Friday (Uncle Ben could do it as well), but eventually, this level does NOT hold if the SPY breaches 101.

Local Tip: Sep 21 - Keller Williams Seminar

Local Tip 2: Sep 21 - Park City Trading/Investment Club

Happy Trading and Be Environmentally Cool

Coach Brian