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Archive for 'Varun Kanotra' Category
Short term top developing, possibly!
Author: Varun Kanotra (info)
Website: http://www.targetsix.com/
Posted: April 10th, 2007 at 7:41 am EST
There is a possibility of a short term correction coming in the market in the next day or two. The volume on the NYSE has been declining the last week as the market has moved higher. Yesterday, there was good volume in the market but it led to indecision which is typically an early sign […]
What’s up? Not much!
Author: Varun Kanotra (info)
Website: http://www.targetsix.com/
Posted: February 6th, 2007 at 11:12 pm EST
Not a whole lot to report today. Markets were basically flat today. We are seeing some consolidation happening which is no cause of concern at all for the bulls. Again, as long as 1440 hold for the S&P, we (bulls) are in good shape. The VIX made a noticeable topping tail while it closed at […]
Where is this market going?
Author: Varun Kanotra (info)
Website: http://www.targetsix.com/
Posted: January 9th, 2007 at 6:45 pm EST
Honestly, I don’t know. And really honestly, I don’t care. If you ask me, you shouldn’t care either. I’ll tell you why. The smart traders never make the foolish mistake of making market predictions. We all know that the markets will do whatever they want to do. So why bother. Let’s have the market give […]
Gold breaking down
Author: Varun Kanotra (info)
Website: http://www.targetsix.com/
Posted: January 4th, 2007 at 11:59 pm EST
While the market continues to chop around, Gold and Oil decline sharply. Look at this movement in GLD, holy cow!!!
If GLD clears 61 it would complete the head and shoulders pattern. Check it out!
Non farm payroll numbers out tomorrow morning. Expect more choppiness, possibility of market selling off tomorrow as bad numbers are expected. We’ll […]
Trouble under the hood
Author: Varun Kanotra (info)
Website: http://www.targetsix.com/
Posted: January 3rd, 2007 at 10:00 pm EST
Happy new year my fellow traders! Hope everyone got a good break and is ready for some action in the market as the new year kicked off today. What a HUGE move today that was. We took out multi-month lows and multi-month highs.
I’ve gotta keep this posting short as I unwind from the long holiday. […]
You want direction….You got direction!
Author: Varun Kanotra (info)
Website: http://www.targetsix.com/
Posted: December 15th, 2006 at 7:20 am EST
What an amazing score by the bulls. Finally after many boring trading days, the DOW hits all time highs. The S&P also made new multi-year highs while the NASDAQ is 12 points away.
I had mentioned in my post yesterday that the NASDAQ was in an symmetrical penant formation and said that it should break out […]
NASDAQ in a squeeze
Author: Varun Kanotra (info)
Website: http://www.targetsix.com/
Posted: December 14th, 2006 at 9:17 am EST
Quick update on the market as I prepare for another day at my J.O.B.
The NASDAQ continues to stay within a 60 pt squeeze forming a penant. It is definitely running out of room to move and should be breaking out (in either direction) very soon. Keep your eyes on that chart, and hand on the […]
Market Almost Flat After News
Author: Varun Kanotra (info)
Website: http://www.targetsix.com/
Posted: December 12th, 2006 at 11:30 pm EST
Not much change in opinion today. Market was almost flat on the FOMC statement. I would want to see a lower high form before changing opinion to short-term bearish.
Want to quickly point out, if you followed the RIMM trade that I posted two days ago you should be profitable. The stock is doing faily nicely […]
Market consolidates, awaits Fed statement
Author: Varun Kanotra (info)
Website: http://www.targetsix.com/
Posted: December 11th, 2006 at 10:11 pm EST
Not much to report today except for the fact that the DOW, SPX, and NASDAQ managed to make a higher high today compared to friday. One thing that did strike me odd is the VIX.
Market Awaits Fed Meeting
Author: Varun Kanotra (info)
Website: http://www.targetsix.com/
Posted: December 10th, 2006 at 11:33 pm EST
Next week is going to be crucial in telling market direction with the Fed meeting on Tuesday, and also retail sales on Wednesday. The S&P is sitting around the lower end of the uptrending channel that it has been since July. If bad news hits the street next week regarding the economy or mis-intrepretation of Bernanke’s speech, we could see a breach of the trendline causing some selling.
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