Now I am confused. It seems like you are long and short at the same time. That might work when the market is range-bound, but not if it explodes one way or the other.
What I will be looking in SPY is whether it hits 203.49 which was the low of March 11. SPY is now below its 50 day moving average. MACD also shows selling pressure as you see black line crosses the red line and is going down. You also see creation of a head and shoulder which if SPY goes below 203.49 , you should be careful (two heads in Feb 24 and March 23 area and one shoulder in between. The next criteria to watch is whether it breaks 200 day MA or not. (It wont happen tomorrow.)
Why he is feeling much better about stocks? The guy is always feeling much better about stocks, the markets can collapse 33% and he would still feel much better about stocks, too funny for a Friday..... Jeremy Siegel: Why I'm feeling much better about stocks Despite four-straight down trading days, longtime stock bull Jeremy Siegel said Friday he feels more relaxed about the prospects for stocks than he did two weeks ago. The last time the Wharton school finance professor was on CNBC's "Squawk Box," a week before the Federal Reserve's mid-March meeting, he said stocks may be in for a correction by summer if the central bank moves to raise interest rates. But now, he's more comfortable with the Fed's more tempered stance on rates. "I think the Fed gets it; mostly gets it. I thought they were being way too aggressive in their projections of interest rates. And they have come down on that." Many economists believe the first move from near-zero percent could be in September or October. The last time the Fed increased rates was in 2006. Atlanta Fed President Dennis Lockhart, a centrist, told CNBC on Thursday he would increase interest rates midyear or even later, because the economy is throwing off "mixed signals." Rounding up a busy week of Fed-speak, central bank Chief Janet Yellenis scheduled to deliver a speech in San Francisco right before the stock market closes this afternoon. Siegel has been calling for 20,000 as fair value for the Dow Jones industrial average. If all goes well, he predicted, that level could be reached by year end. But he cautioned near term of a "choppy market," with range-bound trading on the Dow of 17,000 to 18,500. On Thursday, the Dow closed at 17,678. The blue-chip average and the S&P 500 were slightly lower for the year before the open Friday. Meanwhile, the dollar—which has risen more than 20 percent in the past year—remains a big drag on corporate earnings, and the move has been "tantamount to a Fed tightening of maybe up to 50 basis points," Siegel said. "Four to 5 percent would be the slowest growth of earnings that we had since the Great Recession," he added. As for stocks outside the U.S., he said, "Europe is looking more attractive because of the euro risk has been taken out mostly from that trade," as market watchers wonder if the single currency will drop to parity with the dollar. The euro zone economy will benefit from the European Central Bank's massive bond-buying program, he added, but argued that long-term fiscal reforms there are also needed.
Falling asleep with these markets today especially after so much volatility, I thought Friday would be a big day, yellen is speaking just before the market closes so maybe thats why its just floating around all day today.
You can always buy PUT and CALL and sell cash covered PUT in your IRA if have signed up to trade options in your IRA account.
I saw the late day huge rally and was like wowowow....however that $10+ gain would not have happened without the breaking news on Intel buying altera....SOXL would have closed flat..... That lifted my portfolio nicely into the close.... Going to be interesting to see where it opens up tomorrow ...I will be a seller at $150+ Last week I also owned 650 shares of SOXS that I sold off ....most at $12.05 and the rest around $13.80 but left close to a $1000 worth of missed profits on the table which wasn't cool....im now looking at SOXS as a buy under $11. If it opens lower tomorrow morning I might buy a 1/4 position. I know when semis fall they fall quick. SOXS ran from $10.35 to almost $14 in 3 days. You have to be ready to sell SOXL with any gains you see. So $150 to me is a good selling price. If it rallies tomorrow im selling most of my position and getting ready to buy SOXS once again. But that rally in SOXL was pretty damn awesome. Intel buying a company that size is very big news. They should buy AMD while there at it.