A fifty year old system can give valuable insights into the character and structure of each trading day.
Morning Thoughts on October 7, 2010
Good morning traders. Yesterday we saw a mark down of several of the leaders in the cloud computing area. Besides these stocks, the general market showed great resiliency consolidating the previous day’s gains. Yesterday’s action was pretty classic in terms of what to expect after a trend day, as I pointed out yesterday morning. For today I am going to … Read More
SMB Morning Rundown – October 7, 2010
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open
A Database To Improve Your Technical Analysis
Reviewing my notes from Bounce I came across this passage: This is so funny as I was in a meeting with my partner, Steve Spencer, the other day with us talking to one of our better traders. Steve suggested for this star trader to take a snapshot (capstone capture) of his charts after his best trades and create a personal … Read More
Morning Thoughts on October 6, 2010
Good morning traders. Big trend day up yesterday saw us close at rally highs. Typically the first half of the session after a trend day tends to be consolidation as the previous move is digested. Holding above 116.45 SPY should see some follow-through to the upside. I will be watching GS and XLF (which are finally starting to show some … Read More
SMB Morning Rundown – October 6, 2010
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open
What A Difference A Day Can Make
After a pretty hard down move in the SPY’s yesterday we gapped up today and never looked back. Today’s action reminded me a bit of September 24th when we gapped above 113.60 SPY and never looked back either. On September 23rd there had been some vicious selling but we held the 112 support area. Yesterday we held 113.20. As Brian … Read More
Adam’s Rules
Sometimes it is necessary to state the obvious…