SPY went ex-dividend today

Just an FYI:  A follower of the site just informed me that the SPY went ex-dividend today, which I was not aware of.  Typically, a stock or ETF will drop by roughly the amount of the pending dividend on the day it goes ex-dividend.  When drawing patterns, trendlines, etc.., I don't make adjustments for dividends [...]

Mar 15, 2013 4:15pm|Categories: Equity Market Analysis|Tags: |Comments Off on SPY went ex-dividend today

SPY Island Top Reversal Pattern

We still need to see how things close today but so far, today's gap down in the SPY has put in a potential Island Top Reversal pattern, which helps keeps my primary scenario alive.  If these scenarios do continue to play out, my expectation remains that we will most likely see weeks (and months) of [...]

Mar 15, 2013 2:44pm|Categories: Equity Market Analysis|Tags: |Comments Off on SPY Island Top Reversal Pattern

NIHD long entry triggered

The NIHD long setup has triggered an entry on a break above the 60 minute bullish falling wedge pattern.  Volume so far has been just about average but then again, low volume breakouts seem to be the norm lately.  As the entry price was around 4.60, consider a stop below the 4.35 level if targeting [...]

Mar 15, 2013 11:39am|Categories: Completed Trades - Long|Tags: |Comments Off on NIHD long entry triggered

RAX update

RAX was a short trade that recently hit it's final target for a 30.2% in under 3 weeks from entry.  At the time, I suggested booking full profits and considered the trade completed as a bounce was very likely but I also added an additional downside target for those wanting to let some of their [...]

Mar 15, 2013 10:27am|Categories: Completed Trades - Short, Trading Tips|Tags: |Comments Off on RAX update

AAPL long entry triggered

The AAPL long setup has triggered an entry as of the open today.  I continue to maintain that the risk/reward to entering new long positions at this time is unfavorable so consider keeping your position size on AAPL light enough that you can allow to add on a backtest of the wedge, should this breakout [...]

Mar 15, 2013 9:48am|Categories: Completed Trades - Long|Tags: |Comments Off on AAPL long entry triggered