The last week in August is the worst trading week of the year.\u00a0 Our desk is instructed to take off during this month.\u00a0 Many were away this past week.\u00a0 And many will be away this week.\u00a0 I will be trading.\u00a0 My vacation will start next week.\u00a0 Steve gets this week off and\u00a0I get the next.\u00a0 But there are some things that you\u00a0can do to make this week profitable.\u00a0<\/p>\n
I have a pretty simple view of trading: if you are gonna show up to trade then prepare properly and be alert.\u00a0 It is more important to be professional than make money.\u00a0 If you are on a trading desk then be ready to make money.\u00a0 Or else stay home.\u00a0 It is disrespectful to the market to show up\u00a0unprepared.\u00a0 If you do the market will reach into your trading account and take your money.\u00a0<\/p>\n
As much as the last week in August is slow we may see some trading opportunities.\u00a0 Some levels for Monday: XLE (R) 76, HK (R) 34, FCX (S) 90 and (R) 92, LEH (S) 13.75 and (R) 15.50, GG (R) 35.\u00a0 Oil and gas and Gold were active last week.\u00a0 And there are some good levels to trade off of for the stocks above.<\/p>\n
Also watch for stocks that start to move uncharacteristically next week.\u00a0 Hedge funds tend to play some games with stocks during a slow week.\u00a0 They find some stocks to mark up.\u00a0 If you see this, then follow the momentum.<\/p>\n
The Open will offer you best opportunity to trade.\u00a0 If it starts to get light, then lower you tier size, and wait for only the best trading setups.\u00a0<\/p>\n
If you are going to show up next week to trade then trade.\u00a0 Be prepared.\u00a0 Be alert.\u00a0 Be professional.\u00a0\u00a0 There will be some money out there.<\/p>\n","protected":false},"excerpt":{"rendered":"