Archive for August, 2009
Bernanke’s Reappointment A Positive - Durable Goods Should Be Bullish Tomorrow!
Yesterday, the market continued to push higher after making a new relative high last week. The upward momentum is strong and bulls have control during light volume market conditions. By the close, some of yesterday’s gains had evaporated and the market feels a bit heavy. Overnight futures were trading lower and we were poised for a slight decline on the open. Asia was relatively weak and the Chinese market was down 2.5%. Not many news events were scheduled and this was shaping up to be a quiet day. President Obama provided a spark when he reappointed the Fed Chairman. The market …
Why You Don’t Get the Results You Want
One trader buys a home study course, studies it religiously, takes action… and gets amazing results in the form of winning trades and big profits. (…)
Full Steam Ahead - Bears Won’t Stand In The Way!
A week ago, the market staged a one-day decline that spooked many investors. The Chinese market had declined 5% overnight and it had fallen 20% in two weeks. They have been the cornerstone to this global economic recovery and traders want to see continued strength. As it turns out, that drop was nothing more than profit-taking. As the week progressed, the market recovered and “less bad” economic releases ignited buying. Retail stocks were bracing themselves for dismal results and the numbers came in better than expected. By the end of the week, option expiration also played a factor in pushing the …
Choosing a Trading Strategy
How should I choose a trading strategy?
New Relative Highs and Positive Economic Data Ahead - Stay Bullish!
Yesterday, the market was able to overcome early weakness after initial jobless claims came in worse than expected. For the third day in a row, the market reversed from a lower open and rallied throughout the day. Our market decline on Monday followed a massive selloff in China. The savior for the global economy was under fire and their market had fallen 20% in 2 weeks. Traders soon realized that their market was vulnerable to a pullback after it had rallied 80% in seven months. By comparison, our market has rallied half as much. Tuesday and Wednesday global markets recovered and …