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.
NKE: price action in an active stock post-earnings
Another look at price action in an in-play stock and deriving a bias from overnight market structure
Morning Thoughts on September 24, 2010
Good morning traders. Futures strong premarket has us opening just off of yesterday’s highs. The price action around 1132 will be a big clue as to what to expect for the remainder of the day. If the market is able to hold above this level and consolidate A possible trend day to 1140 could be very possible. This is a … Read More
An important trading skill: “Hey, that’s different!”
Sometimes the best pattern is simply to notice when an established pattern is broken.
Morning thoughts for September 21, 2010
Good morning traders. Market is up slightly overnight following a very strong session yesterday. Typically after a trend day the following day tends to see consolidation in the morning session. On the open I will be much more inclined to take quick momentum profits than usual. I am also going to be looking to buy quick dropouts to afternoon support … Read More