JJC failure occurred. Watch JJC 48.83, Keystone's algo is recalculating after the opening bell. See if JJC holds under 48.83 for 7 to 10 minutes, or not. Note the market weakness that occurred as copper failed. JJC now printing 48.79.
Note Added 3/28/12 at 11:40 AM: Copper failure this morning ushered in the market downside but JJC is only favoring bears by four pennies, now at 48.79 under the critical 48.83 level. Watch CRB teasing 312.30 since if that fails, markets will tumble much lower. Keystone's algo flipped to the short side an hour ago but the move is tentative. The model is committed short but a CRB failure would supply the bears with much needed street cred to reinforce the market move lower. Keystone shorted more AAPL this morning above 620.
Note Added 3/28/12 at 1:25 PM: Keystone took profits on PSQ and SSG (still like them and will probably reenter); bot KGC and SVU. KGC is a gold miner with positive divergence on both the daily and weekly charts across all indicators. SVU is also positively diverged across the board with a very heavy short interest. If the positive divergence ignites a launch, which it should, the short covering can be additional rocket fuel. As always, this is highly dangerous and speculative trading. CRB collapsed thru 312.30, this allows bears to breathe relief, the downside now has street cred. SPX is trying to hold onto 1400 psychological level.......only six pennies now.....there she goes... 1399 handle. AAPL is red. Utilities, UTIL, are falling over five bucks, so not only does UTIL need to be up to 463 by the Friday close but has to maintain the 447 level for this week, otherwise the broad indexes will be under more pressure. The dollar is stronger which made JJC and CRB weaker and delivered the bears todays action.
Note Added 3/28/12 at 2:30 PM: Nasdaq is down 1.00% and SPX is down 0.99% so tech is leading the downside by a hair favoring market bears. AAPL is flat and this prevents the markets from completely releasing to the downside. AAPL LOD is 610.31 so watch that level in the remaining time today. A rupture of this level would hurt the broad indexes.
Note Added 3/28/12 at 3:57 PM: Added more AAPL shorts, also added more BOIL. Natty gas charts look nice for upside while eveyone is wringing their hands saying natty is doomed.
Hi KS, are you keeping any short positions by end of today?
ReplyDeleteAdam
Hello Adam, yes, there are short trades in place that remain, others Keystone is cycling in and out of, the Positions and Picks page will have to be updated this evening after the smoke clears.
ReplyDeleteThe shorter term trading reflected on this site tries to keep a few trades as a hedge against Keybot. Since Keybot went short today, the KGC and SVU long trades were added.
Watch to see if JJC stays under 48.83 and CRB under 312.30 which is bearish. Check the SPXA150R chart tonight to see if it dropped under 90 to verify selling ahead as well. The core position is short via PSQ so the markets are overall bearish as long as Keybot is bearish.