Pick of the Week-ORLY

Nice breakout this week, looks to want higher. Could take a nibble here with a tight stop below the 5SMA.

Closing Numbers for 8/25/2010

The Gift

Take any rally here for what it is.... a gift, and short it.

Interesting Play on XLF

Interesting Play here on XLF, Wait for a close above 13.90 and ride it up to 14.85 or so. If it can't get there, which I don't think it will, short it.

S&P Short Term Outlook

Any pops to the 50 DMA should be good opportunities to short.

Closing Numbers for 8/23/2010

Look Out Below

No lower low yet, but the last 2 weeks of price action have not boded to well for the bulls. Looks like we could retest 1040, unless buyers step in, which seems unlikely if you look at the bond markets, the dollar, and gold. In my opinion not a great time to be swing trading, but plenty of opportunity on an intra-day basis.