Today the market is selling off a bit in the pre-market following a worse than expected jobs report. The key levels we are watching in the SPYs are 114, and 114.30 for Resistance, and 113.60 for support. Our best AM idea is UPS. Seeing lots of strength on upward guidance in the pre-market. Look for a hold above 60.
SEED money for the New Year
There’s always something to trade. You just have to be where the volume is. It can take one good stock to make your week, and one good week to make your month. 90% of life is showing up, and for those who showed up today, there was money to be made. We had a repeat offender today, our good old … Read More
There’s Always Something On The Move.
If you needed yet another sign that the volatility is low, just look at today’s action after the Federal Reserve rate announcement. Yes, we knew that the rate was going to be steady. And yes we figured that the language in the announcement would be similar to previous ones (Fed plans to keep rates exceptionally low for extended period etc.) … Read More
Trading Gap Downs on Earnings Day
Every morning I scan through several news sources and rip through charts and screeners to find the best intra-day trading opportunities. The best setups are usually in stocks that have decent sized gaps (anything more than 5%), and have some fresh news (earnings/guidance, upgrade/downgrade, etc.) Today, although I had a few stocks on my watch-list, I decided to focus on … Read More
Adding a Dose of Patience to Your Trading
Patience is core skill for any trader, and for a momentum/scalp trader like myself, adding some more patience to my game has been a hard challenge to tackle. As I mentioned in my post last week, one of the major adjustments I have made to my trading is that I am being far more selective with my setups, and I … Read More
Turkey, Stuffing, and Genetically Modified Chinese Corn
Sometimes you are only as good as the stocks you are trading. While having the skills to mange risk and maneuver in and out of positions are of great value, stock selection is definitely one of the keys to success for any trader. As we approach the Thanksgiving holiday, and many traders get distracted by thoughts of turkey and wine, … Read More
Making Adjustments
As traders, it is our job to adapt to changing markets. No strategy or system works forever. And while there are certain trading fundamentals that will always be relevant (i.e., discipline, patience, proper preparation), we always to need to be cultivating our edge and looking for new ways to make money. Below is a quick rundown of three shifts I’m … Read More
Catching the Opening Drive
Trading the open is a high risk/ high reward game. The moves can be bigger and quicker, but if you are on the wrong side, the rip can really hurt. Whereas patience and conviction payoff on longer term trades, aggressiveness and flexibility are the skills that help short term traders capitalize on the volatility right on the open. Yesterday AM, … Read More