Phantasmix Stock Blog

Daily $SPX chart as of December 19th close

A few positives when lines drawn like this (click to enlarge), and volume is down on “red” days. The negative – Bollinger Bands are very narrow, usually this doesn’t end well. And with lines drawn another way (desceding upper line), we have a bearish formation, instead of this bullish one.

SSO (Ultra S&P ETF) indicators are more “in focus”. Lots of triangles that should soon resolve, one way or another.

Weekly $SPX chart as of Dec 19 close
Last time we had dojis and narrowing BBands narrowing just like now was right before the waterfall decline. MACD is improving, but not out of the woods yet.

And here’s SSO Weekly for comparison

Look at that volume in the last couple of months! Again, a bunch of dojis forming, narrowing BBands, Stochastics are about to get overbought, without much advance.

I have no clue what’s going to happen, but leaning towards bearish side more than bullish. Not planning any trades before the New Year or until we get a sign about where this is going.

Wow, such a narrow range! Break out or break down is imminent.

Click to enlarge

I have mentioned that I’m a fan of (real) astrology and that many powerful people use it to guide them. Here’s a couple of interesting quotes about it:

Millionaires don’t have astrologers, billionaires do.
- J.P. Morgan

Astrology is assured of recognition from psychology, without further restrictions, because astrology represents the summation of all the psychological knowledge of antiquity.
- C.G. Jung

What a headache. Why do people do this? My blog was hacked.

Took me a couple of hours to restore everything, that’s time well-wasted on a Saturday…

Many thanks to Linux by Example. And I’m now logging all comment activity in case they try it again; here’s how.

Sold (HUN: 10.45 +2.15%) @ $3.44 for +13.35% gain. I intend to revisit near $3, my original buy-point. Still think it has the potential to go to $5-6-8.

And as was mentioned in the comments, I sold SDS and KGC yesterday.

Still holding:

• long SSO (both covered call and stock are now in the black, I’m still experimenting so will let it ride some more)
• short AAPL, AZO, FSLR