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Monday, February 28, 2011

Sheridan Options Mentoring Blog

Sheridan Options Mentoring Blog

Link to Sheridan Options Mentoring Blog

Morning Commentary for Monday, February 28, 2011

Posted: 28 Feb 2011 05:49 AM PST

Good Morning SOM traders. The bull market remains intact as last week's sell-off was bought up on Friday and based on the pre-market futures that looks to continue today. Looking forward…we have a busy week of economic news that could move the markets (all announcements are pre-market, 8:30am, unless indicated and all times are EST) – Today: Personal Income, Pending Home Sales (10:00am), Tuesday: ISM Manufacturing, Bernanke speaks (10:00am), Wednesday: ADP Employment, Bernanke speaks again (10:00am), Thursday: Weekly Jobless Claims, Friday: Monthly Employment Report. Overnight the Asian markets were slightly higher and at the time of this writing Europe is up higher just under 1% and the U.S. index futures are higher.

Technicals…All of the indexes closed below their respective 20EMAs by last Wednesday but did not cross below the 50EMAs. On Friday all of the indexes regained and closed above their 20EMAs except the DJI which closed 1 point below. This was very bullish action and allowed the overbought oscillators to unwind a bit during the week allowing for a technical move higher. Here is what I see for support/resistance (all MAs are 6 month Exponential):
DJI: support: $12,132 (20 EMA), resistance: $13,150 (2008 swing high)
SPX: support: $1,315 (20 EMA), resistance: $1,433 (2008 swing high)
NDX: support: $2,341 (20 EMA), resistance: $2,594 (2001 swing high)
RUT: support: $810 (20 EMA), resistance: $847 (2007 swing high)

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Monday, February 14, 2011

Sheridan Options Mentoring Blog

Sheridan Options Mentoring Blog

Link to Sheridan Options Mentoring Blog

Morning Commentary for Monday, February 14, 2011

Posted: 14 Feb 2011 05:58 AM PST

Good Morning SOM traders. The bull market continues to grind higher! You can't fight the trend but the longer it goes in one direction the more severe the correction will be when it finally arrives so downside insurance is as important as ever. Looking forward…we have a busy week of economic news that could move the markets (all announcements are pre-market, 8:30am, unless indicated and all times are EST) – Tuesday: Retail Sales, Wednesday: Housing Starts, PPI, FOMC Minutes (2:00pm), Thursday: CPI, Weekly Jobless Claims, Philly Fed (10:00am), Uncle Ben (10:00am). Overnight the Asian markets were over 1% higher. At the time of this writing Europe is mixed and U.S. index futures are basically flat.

Technicals…The Technicals remain at extreme over bought but remember that they can continue to do so for a long time as the market grinds up. If the pace slows there will be some unwinding from overbought due to time as opposed to from a pullback. Last week the NDX closed above its 5 year high of $2,195 set on 10.29.2007 and the RUT is approaching its all-time high of $855 set on 07.09.2007. Here is what I see for technical support/resistance (all MAs are 6 month Exponential):
DJI: support: $12,024 (20 EMA), resistance: $13,150 (2008 swing high)
SPX: support: $1,303 (20 EMA), resistance: $1,433 (2008 swing high)
NDX: support: $2,330 (20 EMA), resistance: $2,594 (2001 swing high)
RUT: support: $799 (20 EMA), resistance: $847 (2007 swing high)

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Saturday, February 12, 2011

Good Day, Regular People

Good Day, Regular People


Own Your Beauty - BlogHer Post

Posted: 11 Feb 2011 04:07 PM PST

                                                                      
                                                              


                                                     
                                            
Own Your Beauty at BlogHer is dedicated to changing the way women see themselves, talk about themselves, feel about themselves. After reading their mission statement below, I knew I had to be a part of the movement happening there. I've taken the pledge to change how we think about ourselves, as women.

I am proud that a post I submitted to Own Your Beauty at BlogHer is syndicated there today.


As BlogHer states it, so well:


Let's take all the energy we've spent on endless loops of negative feedback about everything from the way we live our lives to our butts, our hips, our boobs and, for pete's sake, even our ankles - and use it instead to power something positive and meaningful.

Let's celebrate the beauty of authenticity and share it with everyone we know.

Friday, February 11, 2011