SSO Looks Attractive Here.

With ADX reaching 70 on the weekly chart, I’m planning to buy some SSO. Even Kirk from The Kirk Report is starting to get excited here.

IDSA (RUNWAY Pattern)

SRDX (BOUNCE PATTERN: SELL)

I closed my very first position. The reason was simple, the stock is near resistance and the lack of volume convinced me is time to move on.

SPY Observation 10.15.07

I’m not expecting SPY to close positive for the week. Since this bull market started, only 3 out of 10 times did SPY close higher following 5 positive weeks of close.