It is boring, but the best trade in this environment continues to be spending time with your family. Even with the market up a bit this morning, TRIN continues to hover above 1. There is no conviction (as we might have suspected going into Christmas) in the buying.
BLK and IBM are worth watching.
Blackrock [...]
Traders use various techniques to define support and resistance. The most conventional tools [I know of] for defining support and resistance are trendlines, channels, horizontal lines, moving averages and Fibonacci retracements. Each of these categories are then defined further into subcategories. For example, when using moving averages, traders use different time periods and also will [...]
Last week I titled my Sunday post “What Will The Weekly Price Bar Look Like?” I chose that title for the purpose of pointing out not to get caught up in the daily gyrations. Last week was a whipsaw fest for those that traded directionally. One week later we can see that the market [...]
I’m starting this week off in similar fashion to last week by looking at moving averages and identifying primary trends. Watching primary trends helps smooth out trading noise and prevents reacting to every little wiggle. I’ve marked in red the trend changes from the prior week. Among the major averages, SPX, QQQQ and FXI all [...]
Continue reading about What Will The Weekly Price Bar Look Like?
Earlier in the week I mentioned two short trades. So far, neither of them are working but neither have caused damage.
I mentioned BLK as a short term scalp. The trade was to work by shorting the stock at $225 at its all time high. The company reports earnings next Tuesday. My thought was that the [...]
(7:56 ET): The market sold off after the Goldman earnings report. Right now, the overnight range is 1083-1089 although with all the data coming in it is quite possible that the range will have to be updated before the open.
(8:12 ET): Range adjusted down to 1081-1089.
GS is currently down about 2.5% in the pre-market [...]
From my Sunday watchlist, I shorted BLK at $224. This one has shot up to its all time high at $225 before earnings on Tuesday the 20th. Basically the trade is that the all time high will hold as resistance at least until earnings are released. I’m just looking for a quick scalp if there [...]
In terms of market direction, there is a slew of both economic data and earnings reports out this week. It is worth your time to scroll down (right hand navigation pane) to the “Earnings Calendar” and “Economic Calendar” from briefing.com.
Unless there is some exogenous catalyst (e.g, Iran, North Korea), Monday will likely be slow and [...]
I started looking at various market indexes this morning and wondered how it was possible that the stock market could be 50-60% off of its lows (but still 30% from its highs) with fake government unemployment numbers approaching 10% and real unemployment above 10%. In terms of failed institutions, we have lost Bear Stearns, Lehman [...]
Continue reading about New Bull Market – "The Government Bubble of 2009"
