Charts and Coffee Blog

Space.Com – Lou Dobbs is Investing in Outer Space

Charts and Coffee — Thu, 12 Nov 2009 02:52:33 +0000

This morning I mentioned the two major trends of 2009. I just read that Lou Dobbs decided to leave CNN to devote his time to his new web venture Space.com. He is investing in outer space. ”I believe space is the most exciting and biggest news story of this year and of the next millennium,” [...]

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DBV ETF – G10 Currency Harvest Fund

Charts and Coffee — Thu, 12 Nov 2009 00:38:41 +0000

DBV is a thinly traded ETF that many may not know about. According to Yahoo Finance, the fund is comprised of long futures positions on the three G10 currencies associated with the highest interest rates and short futures positions on the three currencies associated with the lowest interest rates. The G10 currency universe from [...]

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Trading Whipsaw

Charts and Coffee — Wed, 11 Nov 2009 16:00:23 +0000

I think today has a good chance of being a whipsaw day and I am being very careful. As I mentioned in my early morning post, today’s open was going to take out a lot of stops. It was an obvious resistance level and once all the stops are knocked around I suspect there [...]

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Schwab ETF

Charts and Coffee — Wed, 11 Nov 2009 15:04:15 +0000

Discount broker Charles Schwab & Co. entered the ETF arena Monday by announcing the launch of four exchange-traded funds, with four more set for December. To boost sales, Schwab is waiving its customary fee of $12.95 per trade if the ETFs change hands online for Schwab account holders. The commission-free feature will be permanent, said Peter [...]

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Trading EURUSD and the Government Bubble

Charts and Coffee — Wed, 11 Nov 2009 12:20:56 +0000

I’m watching the EURUSD trade which is currently at $1.5042. Not surprisingly, futures are up. The ES is currently up +8. There is no major economic or earnings news this morning so barring an exogenous event causing a strengthening Dollar I would expect the markets to open to the upside this morning. I am very confident [...]

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DMM ETF – Macroshares Metro Housing Market Down

Charts and Coffee — Wed, 11 Nov 2009 03:28:40 +0000

DMM is an ETF based on the S&P/Case-Shiller Composite-10 Home Price Index. This index tracks housing in Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York, San Diego, San Francisco, and Washington D.C. DMM is a negative bet on the index. DMM’s sister index UMM is a long bet on the index. The index [...]

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Dollar Chart Is Only One You Need

Charts and Coffee — Tue, 10 Nov 2009 20:54:06 +0000

It appeared during the lunch hour that there might have been a chance for a pullback today. A pullback today would have been a surprise after yesterday’s strong trend day. I’ve seen many traders state how unique it was to see $TRIN pegged below 0.4 and close below 0.3 yesterday. Once the complex head and shoulders [...]

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Complex Head and Shoulders

Charts and Coffee — Tue, 10 Nov 2009 18:17:05 +0000

I am watching this intraday complex head and shoulders pattern. I’m keeping a pretty simple strategy. I’m going to stay with shorts such as REV until I see $TRIN dipping below 1 and/or this pattern invalidated. For now, $TRIN is hanging in there between 1.10 and 1.50 and this pattern has the potential to [...]

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Bears Defending and Finviz

Charts and Coffee — Tue, 10 Nov 2009 16:19:05 +0000

So far, the bears have successfully defended their territory this morning. The bulls briefly pushed the ES over its overnight high but the breakout has failed. The prior intraday high on the QQQQs was $43.73. The QQQQs pushed up to $43.77 but the move up was halted at the October intraday high. IWM continues [...]

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Madoff Auction

Charts and Coffee — Tue, 10 Nov 2009 15:55:37 +0000

The U.S. Marshals Service has collected 599 items from the Madoff’s Upper East Side apartment, which will be auctioned off at the Sheraton New York Hotel and Towers this Saturday. Those interested in fooling people by sending out correspondence on Bernard Madoff Stationary sealed in Bernard Madoff envelopes, can have their fun for the right [...]

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