Question: Last week I went flat to cash in anticipation of the election, FOMC, and monthly jobs report. What a bad week not to be long. Do you consider broad, macro events like the FOMC, monthly jobs reports, Chicago PMI, consumer sentiment numbers etc. etc. in deciding whether to buy, hold, or sell positions? Do you ignore these macro events and … Read More
Morning Thoughts for November 10, 2010
Good morning traders. Today’s comments are from Adam Grimes at The Macro Report. Two days ago, we wrote: “Be aware that [global equity] markets are somewhat to extremely overbought, and though this makes them vulnerable to potentially sharp corrections, these corrections should be viewed as opportunities to add to longs. “ We believe that yesterday’s rather sharp selloff was probably … Read More
SMB Morning Rundown – November 10, 2010
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open.
I Have Had Better Trading Days
Well I have had better trading days. I traded RIG on a breakout to the longside. Drop out, stopped out, ripper. I gotshort AKAM on the breakdown. Buy the new low program, squeeze, stops triggered, ripper. RIG broke to the upside again, I got real long, reversal, ripper. I got long AKAM after a reversal, very long, reversal, then ripper. … Read More
SMB Morning Rundown – November 9, 2010
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open.
More Harm Than Good
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
Traders Ask: Pyramiding
Question: Hi, I love your site and it´s been very helpful to me. It helps me remember that in trading you never stop learning, and you should always stay alert, for sometimes one’s worst enemy is oneself. Here’s my question / problem: lately, I have made several good trades, entering around the right time (although I need to work a little … Read More