Good morning traders. Yesterday I wrote that “I will be watching XLF and OIH as market tells; we need to get some more sectors involved if the rally is really going to have some legs in it.” Indeed financials worked as a very good tell. Its very important whenever the market is a major inflection points that you understand what … Read More
Quick Market Take
The past week or so I have begun to feel a bit uneasy about the market action. It hasn’t been as crazy as the action that we saw in late January that led to pretty vicious two week sell off but it has definitely caught my attention. The failed breakout of the 115 SPY level has me on full alert … Read More
SMB Morning Rundown – September 30, 2010
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open
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
Some notes on flags
A few random thoughts continuing Bella’s earlier post on flags
Traders Ask- How Do I Trade a Bearish Flag Pattern?
Hi Mike. Yesterday in you webinar you showed us a chart on Toyota that dropped nicely on bad news. After that initial drop the stock began a sideways move. The question is: Do you continue to trade that stock during the day even though its going kind of sideways, or do you wait for it to brake the lows or … Read More
SMB Morning Rundown – September 29, 2010
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open
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