Wednesday, June 22, 2011

My best purchase in a long time

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With that title you would think I (have to use “I” here, this one is all me, not from my partners who work in offices) I am talking about a ...
Tuesday, June 21, 2011

Charts are never enough

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We  rarely trade only on what we see in charts, nor in fundamentals.  We always defer first and foremost to price action (especially to dive...
Saturday, June 18, 2011

March 2009 TrendLine's calling

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An updated “ The only chart that counts ” posted 8 days ago — trend-line’s still holding and still calling our name.    We’re not fans of ma...

IPOs from Hell

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You won’t find traders who hate chasing more than we do and it’s probably a reason why we avoid IPO action. Good IPOs that want to move high...
Friday, June 17, 2011

200 SMA history

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It was a perfect technical bounce — market hit $ SPX $ RUT 200 SMA and bounced perfectly.   Traders were desperate for a bounce and they f...
Thursday, June 16, 2011

Traders having 200SMA fun

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First we had the 200SMA test of the $ QQQ a few days ago: It worked well for 2 days and then failed miserably. Today we had even more fun...

Buy the first test, never the second

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We have a saying in our newsletter to “buy the first test, but never the second”.  We explained this in our previous $ QQQ 200SMA test post...
Saturday, June 11, 2011

Oh the suspense -- the XME test

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Note the test and success first of the 50SMA in Jan 2011, then the test and success of the 100SMA in March 2011, and now the test of the 200...

Our plan for next week

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We took a mid-sized position near the close prices on QQQ IWM SPY but with the understanding (and lots of room in buying power) that market ...
Friday, June 10, 2011

The only chart that counts

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This is the big kahuna — ideally we’d like a slight overshoot of the very watched 200SMA into the loving hands of the trend-line from March ...
Thursday, June 09, 2011

Respect the Lights

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Modern civilization demands abstraction, and money is the ultimate signifier.    Most of our interactions are removed from reality.     This...
Wednesday, June 08, 2011

Our tells and Mixed Market

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We’re done nothing more than scalping today, looking for dimes here and there as the action is too mixed for us to bet in any one direction....
Saturday, June 04, 2011

A special "Never Give Up" Motivational Poster for Finance Types

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Motivational Poster of a come-back kid for finance types: Incredible power of healing with Time (note– only when combined with sick innovat...

Looking for a short-term trade bounce on the SPY using the Bollinger Bands as a guide

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Many traders look for complex algorithms to tell them when the market is ready to bounce but in reality, all you need is a Bollinger Band.  ...
Thursday, June 02, 2011

Why all traders should watch copper

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How many times have we heard about Dr. Copper as a great “tell” for the economy?   It’s on the radar for most longer-term traders but it sho...
Wednesday, June 01, 2011

Market Damage SPY

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We took out 3 major moving averages today, 20SMA, 50SMA, and  tagging the 100 SMA which  finally stalled the bleeding.    From a technical p...
Tuesday, May 31, 2011

Daytrader Toolbox: when to short the gap up

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We had a lot of spots in our newsletter last night that we liked if they could have waited a few days.  We had nothing that was ready.   A n...
Thursday, May 26, 2011

Name of the game is commodity trend-line break

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We’re seeing a ton of patterns like the following.   It’s a great pattern for commodities coming off the bottom.  You don’t get the exact bo...
Wednesday, May 25, 2011

Now or Never (short term)

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Things were looking dicey last night with futures down 10.   Market recovered somewhat overnight and the beacon of light was copper which he...