Good morning traders. SPY’s continue to trade in a 2 point range as we digest the markets previous upswing. This action can be seen as positive for the market given that buyers are willing to accumulate the market at these levels. We can see rotation taking place as the laggard sectors are catching up while the leaders (tech) are taking … Read More
Morning Thoughts on September 28, 2010
Good morning traders. Futures up slightly overnight have us opening near the 114.40 level in the SPY. I am starting to see signs of some exhaustion among some of the leading stocks, particularly AAPL which gave back its gains and closed right above is 60 min trendline at 291. My major tell in the market is going to be how … Read More
Morning Thoughts on September 27, 2010
Good morning traders. Market is gaping above the SPY 114.50 resistance which was a very important technical level last week. For today’s price action I am going to use the level as my pivot. I am going to be long above it and look to lighten up or get flat if the market starts to fail. I don’t really want … Read More
Morning Thoughts…
Good morning traders. Hard down move in the overnight futures confirms the break of the rising trend line in the s&P . In my view this is the start of a consolidation in the markets. In terms of my strategy, I am going to look to keep my trading very light. This is not a time to start loading up … Read More
Finding good setups in a quiet tape
This blog is going to go over one of my recent trades in COG. Yesterday’s morning session was very quiet and I was having difficulty finding stocks that were really moving. I was able to establish during the first 15 minutes or so that I would trade a ‘range strategy” until the market structure changed. (more about this on another … Read More