At 10 o’clock today I started scanning the SMB Radar for stocks with promising setups from the Open. WCRX immediately caught my attention. It had had a strong opening drive to the downside and had retraced about 20% from its low. This was a good short candidate. But then I noticed on the tape that buyers had started to support … Read More
Reading the swings in the market
A look at reading the overall market during the trading day.
You Don’t Need To Be A Hero When Trading
This AM I tweeted that I thought LVS was getting a bit overdone. These words of caution were intended to put those still trading it on the long side on alert for a possible blowoff top and reversal. LVS at its peak today had moved up 40% from its pre-earnings closing price. Too much too fast. Those who bought on … Read More
You Should Know Which Sectors Are Driving
Tracking strength and weakness in individual sectors can give us an edge for broad market direction.
Early Morning Thoughts – FX
The $EURUSD run seems to have temporarily ran out of steam. We had rejection at the top of the trend channel on the hourly chart near the 1.4030 area and put a nice reversal setup in place. For this am we are ranging early in the European session 1.3920 by 1.3945. Expecting heavy volatility to pick up below 1.39 or … Read More
The Taylor Rhythm
A fifty year old system can give valuable insights into the character and structure of each trading day.
Gap Study (3/3)
The last installment in a short series on gaps, showing how to apply quantitative thinking to market problems.
Some notes on flags
A few random thoughts continuing Bella’s earlier post on flags