Finance Banter » Bob Byrne http://www.financebanter.com Part of the Business Banter Network Thu, 11 Mar 2010 01:00:09 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 Trade Ideas for Wednesday, March 11th http://www.financebanter.com/trade-ideas-for-wednesday-march-11th http://www.financebanter.com/trade-ideas-for-wednesday-march-11th#comments Wed, 10 Mar 2010 23:28:59 +0000 Bob Byrne http://www.financebanter.com/?p=5734 For the first time in a long time we saw higher than average volume across several markets. When I see volume pick up this far into an established trend I tend to sense buyer frustration and short capitulation. Regardless of the index, pretty much everything looks bullish and destined to trade higher forever. Remember, things look best near the top and the worst near the bottom. Back on February 5th all I heard on CNBC and read on popular financial sites was how the world was falling apart again and maybe we were destined to trade back towards 950 or 1000.

Remain unemotional and disciplined. The Russell is up some 19 of the last 21 days! Does that seem sustainable? Of course not…but blindly shorting as a result of one statistic can lead to both financial pain and heartburn. My thesis for 2010 is that the indices are likely to end the year +- a few percentage points from where they started the year, and based on that I am looking to fade any major moves higher or lower. I am currently long IWM puts…and will increase exposure on an incremental scale.

The mid day dip we saw in the Es was triggered by a fall in both gold and crude oil futures. There were rumors floating around that China might have to raise rates as a result of their economic numbers coming in a bit hot. The potential H&S in the continuous crude oil contract is still intact and something I am watching carefully. I would have expected the oil service names to trade better in this latest surge on the SPX…and the fact that they are trading rather soft is something to pay close attention to.

The gold miners traded weak all day on Wednesday as the price of gold continued to slip…the sector is on my radar for shorts tomorrow. The dollar index continues to trade near its recovery highs. I would strongly suggest traders that favor the mining/oil/material sectors monitor the DX very closely. A sustained break above 81.40-81.50 would likely put a ton of pressure on the mining, oil, and materials sectors.

Since I am finding very few attractive setups, I thought I would run through a few stocks I am asked about on a very regular basis. Enjoy…

Unless otherwise noted, my standard protective stop will be the prior intermediate low (if long) or high (if short) on a five minute chart. Also, if stocks you are interested in gap up or down and “get away from you”…be careful about chasing price momentum.

Please left click on all charts to expand them.

GDX

GDX

GS

GS

IR

IR

RIG

RIG

X

X

Disclosure:  Long IWM Puts

]]> http://www.financebanter.com/trade-ideas-for-wednesday-march-11th/feed 0 Emini update for 3-10-2010 http://www.financebanter.com/emini-update-for-3-10-2010 http://www.financebanter.com/emini-update-for-3-10-2010#comments Wed, 10 Mar 2010 13:26:44 +0000 Bob Byrne http://www.financebanter.com/?p=5727

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]]> http://www.financebanter.com/emini-update-for-3-10-2010/feed 0 Trade Ideas for Monday, March 8th http://www.financebanter.com/trade-ideas-for-monday-march-8th http://www.financebanter.com/trade-ideas-for-monday-march-8th#comments Sun, 07 Mar 2010 01:57:20 +0000 Bob Byrne http://www.financebanter.com/?p=5665

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]]> http://www.financebanter.com/trade-ideas-for-monday-march-8th/feed 0 The Day Ahead in the Emini 3-5-2010 http://www.financebanter.com/the-day-ahead-in-the-emini-3-5-2010 http://www.financebanter.com/the-day-ahead-in-the-emini-3-5-2010#comments Fri, 05 Mar 2010 12:08:40 +0000 Bob Byrne http://www.financebanter.com/?p=5661

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]]> http://www.financebanter.com/the-day-ahead-in-the-emini-3-5-2010/feed 0 Trade Ideas for Friday, March 5th http://www.financebanter.com/trade-ideas-for-friday-march-5th http://www.financebanter.com/trade-ideas-for-friday-march-5th#comments Fri, 05 Mar 2010 03:34:14 +0000 Bob Byrne http://www.financebanter.com/?p=5648

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]]> http://www.financebanter.com/trade-ideas-for-friday-march-5th/feed 0 The Day Ahead in the Emini 3-4-2010 http://www.financebanter.com/the-day-ahead-in-the-emini-3-4-2010 http://www.financebanter.com/the-day-ahead-in-the-emini-3-4-2010#comments Thu, 04 Mar 2010 13:20:01 +0000 Bob Byrne http://www.financebanter.com/?p=5607

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]]> http://www.financebanter.com/trade-ideas-for-thursday-march-4th/feed 0 The Day Ahead in the Emini 3-3-2010 http://www.financebanter.com/the-day-ahead-in-the-emini-3-3-2010 http://www.financebanter.com/the-day-ahead-in-the-emini-3-3-2010#comments Wed, 03 Mar 2010 12:45:25 +0000 Bob Byrne http://www.financebanter.com/?p=5588

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]]> http://www.financebanter.com/the-day-ahead-in-the-emini-3-3-2010/feed 0 Trade Ideas for Wednesday, March 3rd http://www.financebanter.com/trade-ideas-for-wednesday-march-3rd http://www.financebanter.com/trade-ideas-for-wednesday-march-3rd#comments Tue, 02 Mar 2010 23:04:10 +0000 Bob Byrne http://www.financebanter.com/?p=5568

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]]> http://www.financebanter.com/trade-ideas-for-wednesday-march-3rd/feed 0 The Day Ahead in the Emini 3-2-2010 http://www.financebanter.com/the-day-ahead-in-the-emini-3-2-2010 http://www.financebanter.com/the-day-ahead-in-the-emini-3-2-2010#comments Tue, 02 Mar 2010 13:26:36 +0000 Bob Byrne http://www.financebanter.com/?p=5564

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