Stock indexes sold off violently last week. The bottom print was 1065.79 on the S&P 500. In my opinion, it will be difficult for the market to breach that low for the next 2 to 3 months.

The pattern of higher lows continues.

Trade Art: Higher Lows

Chalk one up to the minus side. Attempting to fade the existing downtrend in A Power Energy (APWR), I went long. I have now sold my stake, as the price action hit my determined lower limit.

Trader Art: APWR Stop Oil on Canvas

There is always a bull market somewhere and the bull market in gold continues to be in its infancy. Have you seen this movie before? The markets don’t change, just the players. The cycles play out the same every time.

Trader Art - Gold Bull Market: Oil on Canvas

The Sirius (SIRI) entry proved timely, but the trade is over. The price action has been strong, but this one looks like a trap. The company will report earnings Tuesday. I’ll steer clear for now.

A great trader I once knew always took profits too soon. He was very successful.

Tarder Art: SIRI Exit

I just turned on business TV for the first time in a couple years. There is a four way debate about Warren Buffett’s problems. Ladies and gentlemen, I am hear to announce that Warren Buffett does not have any problems. Perhaps the people on TV should talk about the people who have problems–like the people who are out of work–rather than the richest man in the world, Warren Buffet’s problems.