Remember the "not bad looking" chart?

After today's strong bounce, it looks even better and it might pull everything up with it. In this market, anything is possible. And that is why I am taking loss on FAZ, TZA. I could always go back in if the thing does not play well.

Update: SPWRA

Now 18.3% in the pocket!

POT

Now 8.4% in the pocket.

Update: VMC

Now 6.8% in the pocket.

It this fails, the NASDAQ will look out below

A possible head and shoulder top pattern, which will certainly hurt the NASDAQ if it breaks down.

You ain't seen nothing yet

The bank index still shows a "not bad looking" chart. Wait till it breaks down the channel.

Transport

Breaking down from a double top. What is the old saying again?

Got punked

I got punked on AGU and MOS trades yesterday, otherwise they would have been perfect short setups. This is one thing bad about end of day trading, you can't see all the things that are going to happen the next trading day.

VMC

VMC is finally breaking down today.

APA

APA is also featured in my newsletter.

SPWRA

It has been featured in my newsletter for days.

True direction

As I predicted last week that the market would show its true color after the quarterly markup period. Before it had two options: flat or down. Now the downward is the only direction left.

Remain bearish

No matter how I slice them, they look bearish to me.

Never short a dull market

The market has not declined as I expected due to the end of quarter markup. I covered some shorts with small loss, which were uploaded at the recent losers section. I still think the true direction will emerge in the new month.

Michael is gone!

I could not believe what I had seen on the top of page of Yahoo yesterday morning. Michael has gone at age 50! This is sad. I don't care about his sex scandals, I don't care about his cosmetic surgeries, I do care about his music, which brought me the sweet memory of my youth. I grew up with his music and his movie-alike MTV, I was a kid carrying a Walkman all day, I was a kid raised under Rock & Roll invasion. I could watch his "Billy Jeans" video several times a day without getting tired of it. I collect the music videos from Michael Jackson to Madonna, from Bon Jovi to Aerosmith. You will not understand how precious they were in China where was still not that open to the outside cultures back in late 80's. Michael Jackson and his videos opened the first door to the Western world. Now he disappears from this world forever that reminds me how old I am and how fragile we are. People can be gone just like that. Treat yourself better, treat your friends and family better. They are the meaning of you being alive. Love you, Michael, love you forever! Your music lives on!

Hi from Korea

Hi all, I am enjoying a moment of surfing freedom at Souel international airport. Last week the market experienced a seasonal quarterly markup, which will be ended next week and the true color of the trend will emerge. As I said, I think the uptrend has been clearly broken and the next direction is flat or downward.

Rally is over for now

All the sectors I showed below have broken down, and I can't find any decent long setups. The uptrend has definitely ended, now the direction is either flat or down.

Possible bearish pattern on sectors

Updated newsletter performance

Sometimes less is more

I am glad I placed a nice stop!

A head and shoulder top

If the new house permit number is bullish, why the housing sector is breaking down from a head and shoulder pattern?

Banks are in danger

The banks have been lagging the market for weeks, now it is breaking down.

Pullback

Most of my long positions are stopped out today. I guess the top has formed, which means you should sell remaining shares if we have any bounce in the near future.

Cramer says the housing sector has bottomed

Hmmm, the chart says probably not.

Warning sign

With the help from BAC's upgrade, SPY still can't overcome 95.7 area, a warning sign.

Steel

The most bullish sector.

PXP

PXP was also a long candidate.

SOLR

I recommended SOLR last night.

NASDAQ

Still in an uptrend, but it sure looks tired.

Update: SOL

Target is reached today and the position is closed for 55.3%.

MEE

Another winner lately.

SOL

SOL has been on fire!

I am back!!!!!!!!!!!!!!!!!!

After being blocked in China for almost a month, I found a way to crawl back. I should have searched for the solution long before, but I was hoping the Chinese government would withdraw the restriction after June 4th. I guess I am wrong. Couldn't wait for this motherfucker government becoming more reasonable and friendly.

Newsletter performance

Sorry for the delay. I have been searching for the snapshot software after Hypersnap expired. Today I just found out I can still use it after expiration, but with three stamps on the picture. So please bear with me, since I don't want to spend $50 for a software I only use once a month.

Cut it like butter

Both retail and semiconductor indexes are showing the weakness.

The NASDAQ about to follow

The semiconductor is leading the NASDAQ to the downside. I don't think 1700 is going to hold.

POT

My POT is rallying against the overall trend, something is cooking?

Closing EJ

Sold EJ for 18.7% profit.

Banks

The banks show a topping pattern. Getting back to the rising channel is bearish.

Selling STP

Selling STP for 29% in 5 days!

Selling BX

Selling BX right now for 52.2% in 5 days!

Closer to an end?

From the percentage of winning trades I had recently, I am afraid the rally may come to closer to an end. I am starting less new positions and with more cautious mode. Certainly timing a market turn is a sucker's game and I am too stupid to master it. So I won't be shorting anything right now.

Selling YGE

Selling YGE at $9.9 for 41.4% profit in 4 days!

Unbelievable strength

Before I went to bed, it was at the resistance. Now it is completely breaking out. Bulls totally in control!

Banks

Banks either break it or make it. Thursday is D day.

STP

My STP has performed well too.

YGE

YGE has been up nicely.