Posted on February 19, 2009 by Adam
I’m looking to short into a rally today, because I don’t think a rally will last very long. I think withing a couple of weeks we will be making new lows. Today’s strength offers a good chance to get short some stocks that have been weak.
I put ESV on the watchlist this week, as it’s [...]
Posted on February 19, 2009 by Adam
I’m not superstitious - I promise. But I can’t help but notice something strange that’s going on with the S&P 500. I have noticed something in the charts that has me very interested.
Looking at a point and figure chart of the S&P, we can see that it went on a sell signal last week, which [...]
Posted on February 18, 2009 by Adam
I will be holding a live webinar next week, which will cover the basics of point and figure charting, including how they are constructed, read, and interpreted. In addtion I will share some of the ways I incorporate them into my trading, and suggest ways you can use them to improve yours.
To sign up, either [...]
Posted on February 18, 2009 by Adam
Japan is in an interesting situation. Now, I am not big on fundamental analysis, but when I notice technical themes that happen to match up with fundamental ones, I take notice.
Right now I’m seeing a lot of interesting price action in the currency market. The Japanese Yen is no exception here.
Take a look at this [...]
Posted on February 18, 2009 by Adam
I returned to my computer this morning to see how my trades had fared in my absence. Wow! Dow down 300 points! S&P below 800!
That’s kind of a big deal. We’ve broken down pretty hard, putting the NYSE Bullish Percent on bear confirmed, the most bearish scenario out there. I have no doubt we will [...]
Posted on February 16, 2009 by Adam
Good evening, traders.
As we gear up for the start of the trading week, I was going through some charts to look for setups. Last week we saw a lot of strength among the refiners and technology. We saw weakness in the REITs, and the rest was meh.
I won’t be around to trade tomorrow - instead [...]
Posted on February 15, 2009 by Adam
If you read my post last week suggesting that refiners are looking good from a technical perspecitve, I talked about how gasoline is getting more expensive relative to crude oil.
That makes for a pretty good bullish setup in stocks like VLO, TSO, SUN, XOM, HES, and more.
I just came across this article on yahoo, which [...]
Posted on February 15, 2009 by Adam
Who are better at trading: men or women?
Sorry, guys, but the girls have the edge here. In general, at least. I am a living exception to the rule, given that nobody beats me in trading!
In all seriousness, studies have shown that women make far better traders than men. Women tend to be more cautious, willing [...]
Posted on February 13, 2009 by Adam
Over the past month and a half, we’ve seen a really interesting divergence between gasoline and crude oil. The price of gasoline has outpaced oil by quite a bit, setting up a bullish situation for oil refining companies. In short, they can buy oil for cheaper, refine it, and then sell gasoline at higher prices. [...]
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Be on the lookout for an extended pullback.