Research Center's, Hot Charts & Alerts Arcive

Long JJC
Trigger: $41.45
Stop: Close Below $39.00
Target: $44.05
Trade Valid Through 03/22/2013



 

Short OXY
Triggered: $83.10
Covered 1st Half: $80.60 + $2.50 (+3%)
Covered 2nd Half: $79.60 +$3.50 ($4.21%)

Great trade folks. Perfect market pull back as expected just before to all time highs on S&P 500

SPY just ran into gap window here. First half off. Second half off if gap is filled. Break even stop now on the remainder. Rinse and repeat.

Entry: $44.75
1st Half Sold: $45.75 +$0.92 (+2.1%)
Break Even Stop In Place 

Short OXY
Triggered: $83.10
Covered 1st Half: $80.60 + $2.50 (+3%)
2nd Half Target: $79.60
Stop: Break Even

Long FB @ $25.11

Target 1: $26.18
Target 2: $28.79

Stop loss: is the first close below $23.18

This trade setup is valid until the close on March 20, 2013.

With the S&P futures trading at -17.50, many are wondering why a country so small can have a huge impact on the global markets. Across the world, equities are selling sharply tonight.

The News

As part of a bailout deal reached, Cyprus committed to taxing deposits in its banks up to 9.9%. This means, all those savers who stashed cash and were not wild spenders could lose up to 10% of their money in the bank.

Why It Is A Big Deal?

Bank Runs: If you knew your money in the bank was going to be taxed at 10%, wouldn't you go remove it immediately and store it under your mattress? I would and so might many in European countries like Cyprus, Greece, Italy, Spain. This is the fear. If Cyprus is setting a precedence, bank runs could begin. Bank runs would send Europe into a catastrophic collapse.

This is why the markets are sharply lower tonight. The question for tomorrow is whether or not the U.S. markets will hold lower or the buy the dip mentality will return.

The S&P futures are dropping sharply this fine evening to the tune of -17.00.  I noted on Friday's video on the Hot Charts and Alerts, the markets were back below the BLUE Master Trendline as well as the daily chart was extremely bearish, even though partially due to the dividend payment. The charts tell the truth.

In addition, I have been saying for some time, with every analyst calling for all time highs, it was likely we have one pullback prior, then one final move sharply higher. It never quite goes how the masses are saying it will go. If it did, every average investor would make money and we know that does not happen. We will see if the selling continues into tomorrow.

I continue to hold shorts on OXY, EMC, IBM and a long on SDS (2x short SPY).

See you all at the No Hype Live Broadcast at 9PM ET.

Sincerely,

Gareth Soloway

 

For those of you that have been holding AAPL long, today there was a nice pop (finally). I have discussed AAPL every night in the Daily Analysis Video. Based on the unknown of whether this is options expiration manipulation or real trading action, it is recommended you take half off here at $443.75 from $422.50 +20.25  (+4.8%).

In addition, the stop out on BAC was triggered into the close here at $12.57.

Entry: $11.60
Exit: $12.57
Loss: $0.97 (-8.3%)

I will discuss more in the video to be posted shortly.