A fifty year old system can give valuable insights into the character and structure of each trading day.
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…
One Good Trade in SFO Magazine
SFO Magazine featured Mike Bellafiore’s One Good Trade in its latest October issue. You can find the October issue of SFO here and the review of One Good Trade on page 88. Also, be sure to sign up for a free SFO webinar titled, “Adapt: The Market Doesn’t Care What you Want it To Do” with Bella on Thursday, November … Read More
Morning Thoughts on September 30, 2010
Good morning traders. Inside day yesterday is constructive for the bulls as the market is consolidating its previous run without giving gains back. I will be long the market over 115, waiting until it holds higher to really load up on the long side. I will be watching XLF and OIH as market tells; we need to get some more … Read More
Morning Thoughts on September 29, 2010
Good morning traders. SPYs took an early morning dip as the tech leaders saw some rest and pulled back/ consolidated. Its impressive to see how resilient the market is. Lower prices bring in aggressive buyers, something that is very important to the health of the rally. In terms of the SPYs chart the longer we spend above 113.20 the higher … Read More
AAPL Flash Crash?
I received a couple of twitter messages about whether I was trading AAPL on the Open today. JoeP had mentioned in his morning thoughts blog that we were watching the 291 level closely for a possible break of the recent uptrend. As it turned out I was short RIMM on the Open and watching CRM as well for a break … Read More
Gap Study (2/3)
Part 2/3 of a series of posts showing one way to apply quantitative thinking to market problems.