My hard drive on my machine at home died.
Oh well. I did exit my IWM put today. I purchased it at 3.85 and sold today at 5.75. Not bad.
I wish covestor would allow you to enter them as trades.
Here is a nice climax bottom forming at support for Gammon Gold. I'm showing the current chart and two previous high volume bottoms at the same price levels.
It might be worth a shot.
It was always clear to me that the government, with all its debt, would always prefer inflation over zero inflation. What has been confirmed today is that the Fed is absolutely petrified of even the slightest threat of deflation.
Rates will be cut! The dollar will be trashed! I'm betting that gold will be benefit. It won't be because of inflation, it will be from a fear of financial collapse.
Metalink always describes itself as the "best-of-breed" in the wireless networking chip sector and if you would like some evidence for that claim just read the article below. This is pretty cool stuff. Here is the link.
Metalink Ltd. (NASDAQ: MTLK), a provider of high-performance wireless and wireline broadband communication silicon solutions, announced that its WLANPlus(TM) chipset has achieved impressive performance results in independent tests conducted by The Tolly Group. These rigorous tests benchmarked Metalink's WLANPlus against three products using different 802.11n chipsets. The tests confirmed that the use of Metalink's solution doubled performance as compared to the closest competitor tested, and in many of the tests by as much as ten-fold. These tests further position WLANPlus as the best-of-breed 802.11n draft 2.0 compliant product and the only one powerful enough to enable high-performance wireless applications.
Kevin Tolly, the CEO of The Tolly Group, noted: "To 'push the limits' of these chipsets, we introduced a new set of challenging criteria, including zero-loss tests as a necessary de-facto standard for the home entertainment space. We were impressed with Metalink's WLANPlus, which clearly outperformed the others in both the 2.4-GHz and 5-GHz bands, as well as being the only chipset tested to achieve zero-loss in UDP tests." Tolly added that the tests indicated that Metalink's product also achieved the best results in TCP tests.
The Tolly Group's tests took place in a large U.S.-based home (a 6,000-square foot, three-floor structure with a basement), enabling a wide variety of performance tests. The tests included measurement of throughput, full home coverage and transmission quality. These tests demonstrated that WLANPlus offers superior performance in the 2.4-GHz band (the band commonly used for data services), and that it is the only chipset tested which provides robust performance in the 5-GHz band (used for high-quality applications such as video and gaming). As such, WLANPlus has emerged as the clear best-of-breed foundation for 802.11n home networks with a proven ability to support the delivery of multiple simultaneous HD video streams throughout the home.
"The fact that the Tolly Group's independent tests have singled out Metalink's technology confirms WLANPlus's status as the market's highest-performing solution for wireless home networks," said Barry Volinskey, Metalink's Vice President of Marketing. "Our product achieved the best results in both TCP and UDP tests, as well as in the 2.4-GHz and 5-GHz bands, making it the only wireless technology capable of supporting the new demanding requirements of wireless home networks. This further establishes Metalink's positioning as a major player in the fast-growing home networking space."
Every index has held support pretty well except for the Russell 2000. The small caps are very sick and continue to get worse. I shorted the small caps on today's strong close. 
The chart for MIND is getting near that lower trendline again and the time to drink from the MIND well is fast approaching. I'll post a little fundamental data tomorrow, but here are the daily and weekly charts.
Here are the TDST support levels for the Dow Industrial, S&P 500, Nasdaq Comp and the Nasdaq 100. If these levels are broken with volume, look out for more pain and even better buying opportunities. 
I'm not going to trust this drop until we break some trading ranges and moving averages.
My stocks held up pretty well today. All came down, but with very light volume.
There are methods, however, that I find to have incredible predictive power. Take Tom O'Brien's method for instance. He recently went long Agnico-Eagle Mines (AEM) around 34.50. He effectively bought the bottom using only price and volume to estimate the supply and demand, all in the face of an extremely bearish market outlook. He also has picked up several other gold stocks just before they shot up.
I was just talking to a friend of mine who works at Wyeth. I told him about the blog so I thought it would be appropriate to take a look at Wyeth's chart.
I'll start out with the weekly. As a reminder, my goal is to take stocks with strong fundamentals and use technical analysis to find low-risk entry points. As it can be seen, WYE has been in an uptrend channel since late 2004, so clearly the fundamentals are there. Right now it is hugging the upper trend line, which is not the best place to enter a long position. If I was looking to buy WYE, I would wait for a pullback to the lower trend line or wait until the price consolidated long enough for the lower trend line to catch up to the price. Right now, $52 looks like a nice price. I think it is important to point out that WYE is performing very well, especially since the pharma and biotech sectors seem to be in the dog house.
Let's now take a look at the daily chart for WYE. Sometimes the best entry points correspond to times of extreme market weakness and it is nice to identify strong support ahead of time so one is poised and ready to pull the trigger. WYE has such an area of support around $50.50. If for some reason it pulled back sharply to the breakout area and volume dried up, I would be all over WYE.
Intel disappointed last night so I thought that I'd look at a company that always seems to disappoint. We have also seen a lot of sell the news type action after earnings and SNDK is on tap tomorrow night. The above chart shows the TD sequential setup and countdown and clearly shows that SNDK is ready for a pullback.
It seems that some stocks follow the TD Sequential signals better than others so I have plotted a few of the recent tops for Sandisk. I was surprised to see how well the TD Sequential worked for it.
I'm inclined to short SNDK tomorrow.
I'm finally done with moving and just got my internet connection up. It looks like I've missed some interesting days.
My 3M short was stopped out.
I'll update more later.
I got into the GM bearish trade a little early but it seems to be turning my way now. I purchased the Sept 35 puts at $1.90. My target is a $33 price on the equity. It looks like we might get there sooner than later.
Options do not show up on the Covestor.com service so you'll just have to trust me.
I've shown my TD Combo summation indicator (based upon TD Combo) previously. Here is the TD Sequential countdown for the Nasdaq 100 weekly and daily chart. Both are on sell signals.
Well I took the plunge. I signed up with Covestor.com so you can now track my trades. The idea is to link with my broker so Covestor.com can credibly display my results. Unfortunately, Covestor does not have an agreement with Tradeking so I'll have to send them my broker statements manually.
I have already sent them my first one. Click on the Covestor link to the right to see my holdings. Here is what I own and the cost basis associated with them.
Long:
With such bubbling enthusiasm it is no wonder why Rikki Tahta is a successful entrepreneur. I'm thinking about signing up with his website. Covestor.com
The percentage of stocks below their 200 day moving average is moving up, but the overall stock market seems to be holding up fine. Is this an indication of a sick market? Maybe. What is strange is that the last few corrections have been accompanied by spikes up in these indicators, not the slow increase that we are seeing right now.
