Few and far between

My posts have been exactly that here in the medium term realm...primarily due to the fact that I am entrenched in the daytrading timeframes. Recently I started trading the NYSE instead of the TSX due to the lack of real stop loss orders in the Canadian exchanges.

I have found a great wealth of additional indices and data streams that are not available for the Canadian markets as well. I will be using some of these here and there.

I keep swaying from and to ETFs and lately I have been concentrating on the S&P500 index and related ETFs, SSO, SDS, SPY, SH... various shades of leveraged and non-leveraged ETFs. All work fine in an intra day basis as there is a direct correlation between the leverage factor (1, 2 or 3X) and the ETF price movement. The larger priced SPY moves well enough and it is tradeable as is the leveraged lower priced SSO.

For the purpose of longer term trading SPY and SH (1X ETFs) would be the only issue that makes any sense to use. The problem lies in the price as buying either would tie up enough capital that I would not be able to continue daytrading... so I give up on the one to do the other.

Having said that I will likely be setting up a direct automatic deposit into my margin trading account as they have lowered the margin requirements. It will take a while to build up enough capital for the planned trading but it's got to start somewhere.

No cool charting or forecasts here, although the SPX is at an important price level and anyone trading it should be paying close attention to the next move, I suspect that it may be fast and furious when it breaks.

Well, I couldn't resist. Here is the SPX index for the last year. Note the nice convergence of price with the MACD and the jump the the MACD levels as the price crossed that high volume level around 850. I would be watching closely as the index approaches teh 200dma around 925. Some are saying teh May is a typical selloff month, something about seasonal trading...it may work out that way but he volume is averaging higher as the level rises slowly which lends itself to the thought that there may be some support for a continued rally.

Yes, I still use the stockcharts.com as they have a few things that esignals do not have.

Jeff.