Today is the first day in approximately 2 months where I received a green light to officially invest in the market. I think most institutional traders received the same signals as I did, we finally got out of the danger zone and should move higher from here in the short term. Although I personally have […]
There was definite nervousness going into this morning with the hope that QE3 would be introduced by Ben. Bernanke at the summit. In fact, this most likely caused the drop in the market yesterday as with any market moving speech, most players exit beforehand and stay out during the uncertain times. So … yesterday’s down […]
I’m still holding my AAPL stock, but we are going to take a big hit over night … this happened about 20 minutes ago … The nasdaq is pulling down hard on this as well. This might stifle the recovery efforts of the entire market since AAPL is such a bellweather. == In a stunning […]
a decent day today in the market. As I had hoped for, the market closed well above my target on the IWM. that target (68.25ish) should become support for future pullbacks. Today it came down and touched that number 5 times … four of the five times it bounced off of it within minutes and […]
Today the market rose over 3%, and I like what I saw. In fact, today is the first day that the internals (after the close) are telling me to buy. You might say … of course dummy! … the market is up 3+% … of course things look rosey! But … last week we had […]
wow … another tough week for the market to say the least. The rally attempt off the lows failed on Thursday sending the market down to retest the lows today. My expectation is that we will get another bounce on Monday or Tuesday just because the market is so oversold, but longer term … I’m […]
today was an interesting day, but ultimately ended up bullish by the close. I actually closed my long positions that I had over the past few days before the open (just saw too much weakness in my analysis last night). In the first 30 minutes of trading we saw the market jump up, then proceed […]
Today, we climbed another stair, in fact … we did a bit more than that. If you look at a 30 minute chart of the day, you will see that the first half of the day was identical to yesterday. A big open, then another wedge pattern showing sideways consolidation (forming another step). Then over […]
I think everyone in the active trading community is happy it is finally Friday after hours. If they are anything like me, they will enjoy a nice quiet uneventful week, if they survived this week, then they definitely are due the short vacation! Today was a continuation of what we saw over the past few […]
Earlier today I posted a blog about market behavior and following your gut instincts (see below). I wanted to follow up on this … There is an interesting phenomena that happens in the market that I think my gut instinct picked up early this morning. My morning routine usually starts with reading many, many newsletters […]