Posted on February 27, 2009 by Adam
Happy Friday everyone!
It’s been a tough two weeks for me. This is an unforgiving market for swing trading, but I’m optimistic about where we go from here.
I’ve got some pretty good looking setups that you could try getting into here. Enjoy!
Bullish:
TRA: A nice, longstanding, upward trend. This stock has held up really well so far [...]
Posted on February 26, 2009 by Adam
Good morning traders,
This morning I wanted to share with you a video sponsored by the Chicago Board of Trade, which covers the topic of market profile. If you have never heard of market profile, it is a way of analyzing volume during a trading session and how it relates to price, and applying certain criteria [...]
Posted on February 25, 2009 by Adam
I just bought stock in REGN. Here’s why.
First, look at the candlestick chart. It’s been holding up lately, putting together some higher lows. You could make the case for an ascending triangle here, where prices are resting right at support. Add to that the fact that it’s been up or break-even the entire day, on [...]
Posted on February 25, 2009 by Adam
Good Morning Traders,
Yesterday’s sharp rally came as no surprise to me, given the grossly oversold nature of most broader market indicators. As such, I was able to reap the rewards by positioning myself slightly to the bullish side.
After the rally, we have inched our way north from extreme oversold levels, but an enormous amount of [...]
Posted on February 24, 2009 by Adam
The point and figure tutorial last night was a success. For those of you who were unable to make it, we covered the advantages of point and figure charts, how they are constructed, and ways they can be applied to your trading. Below is a recording of the presentation and a detailed summary of what [...]
Continue Reading
Posted on February 23, 2009 by Adam
I’ve been watching the following pattern develop for a long time now - almost a year. I’m talking about the massive double top that’s been forming in the S&P. This is a pattern that’s been forming since 1997! If we close below support, we will have confirmed this horrible pattern.
Based on the price pattern measuring [...]
Posted on February 23, 2009 by Adam
Good morning traders,
As I’m assessing the market this morning, I keep noticing how deeply oversold we are. As we sit at the lows, not doing much, we are approaching relative lows in the NYSE McClellan Oscillator.
Like all oscillators, the McClellan Oscillators moves from overbought to oversold. The more deeply oversold we get, the more likely [...]
Posted on February 21, 2009 by Adam
I’ve written in the past on the deleveraging of the debt bubble that has contributed to this financial crisis, but I was reminded of just how bad things are when I read an article in the New York Times talking about how Harvard is managing its endowment portfolio during the downturn.
Like all Universities, Harvard generates [...]
Continue ReadingPosted on February 20, 2009 by Adam
As I watch the futures market this morning, I feel like I’m in the twilight zone.
Prices closed at their lowest level in six years yesterday.
Dow futures are down 100 points in premarket trading.
The housing market looks terrible.
The government keeps making things worse.
I’m tired of this.
If you can be in cash, now is the time to [...]
Posted on February 19, 2009 by Adam
It’s been a tough week for me. The market’s been beating me up since it opened on Tuesday. Both my longs and my shorts are underperforming. This happens from time to time and it sucks.
It happens to the best of us, and if you can’t take the pain you probably won’t last in the long [...]
Be on the lookout for an extended pullback.