I called it...

If you have been reading this blog and looking at my main page at www.the1045report.com you will see that I made a call that had people scoffing. I said that the market was going to be down Tues morning then sideways then up Wed and Thurs. Today there was a report that Greece and the EU have reached a temporary deal and this caused the market to roar upward. Lets look at todays chart and see what the cubes ended up with:

A very big up signal for the cubes. The extra long tail at the bottom of the range is huge. The markets should be up tomorrow in a strong way.

What about my other positions? As for Goodyear, Im looking for an out, to be blunt and honest. It didn't do the big bounce as I had hoped, and it is trading a bit above our option call. If the energy sector can come back a bit, I will get out. GDOT is also doing something weird, consolidating around a price of 18.50. If it rises a bit more, Ill get out.
And now for my homerun section. GREK and QQQ. This deal goes forward with Greece and the EU about interim financing the markets will surge along with our options. Also CNC and IAND are in great bottom positions right now with good fundamentals and are just looking for an up day.

And you thought I was out of the game. (Only if this Greece deal crumbles, but most likely not as the banks are running out of cash). Here is what it is. The EU desperately doesn't want to set a precedent and let Greece walk away out of the EU. Greece desperately doesn't want its citizens to starve and have economic turmoil and riots. Thus:Deal.

Sometimes you have to wait a bit and let things turn back towards you. But only if you had a pretty good idea that it was due to turn back like I did. And how did I know this? I am familiar with the art of negotiation, and I was following the process closely so I knew what point both parties were at. I was looking at the technicals via charting with the market so I knew things were in oversold territory. I was looking at the fundamentals of the market (short term) and saw how the market was just waiting for some good news. Tomorrow should be interesting, I expect a strong up day with further news from Greece.

Tradinginsider