Posted on May 14, 2009 by Adam
The S&P remains pegged between two important levels. 900 should serve as a resistance to the upside, and 875 will be the line in the sand for the bulls. Until either of those levels is broken, I don’t want to take a directional stance on this market.
The market traded higher today, but the trend that [...]
Posted on May 13, 2009 by Adam
Stocks finished the day near their lows on weaker than expected retail numbers. This markets the third consecutive down day. We haven’t seen that since the beginning of March.
Stocks, after breaking through 900, seem determined to test the 875 level, which it punched through after a lot of testing late last month. Continued weakness in [...]
Posted on May 12, 2009 by Adam
If you day trade futures, understanding how market profile works can be valuable knowledge. Even for swing traders, understanding how to read market profile can help you gain a competitive edge.
What is market profile?
A market profile is a convenient relationship between price and volume. A market profile is constructed by looking at all the prices [...]
Posted on May 8, 2009 by Adam
The marekt was up today. Who cares? The big story is the comeback of A-ROD! He’s going to swing the Yankees out of their recent slump, even without his juice.
As for the markets, I think you can tell how they reacted to the stress test news. Buyers were extremely aggressive all day. Tick readings were [...]
Posted on May 8, 2009 by Adam
I started out with next to nothing in my trading account. When I was 18, working my first real summer job, I deposited part of my weekly paycheck into my brokerage account. When I finally worked up the minimum amount ($2000) I was delighted, only to find out I was pretty limited in terms of [...]
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Posted on May 7, 2009 by Adam
Markets traded heavily all day on broad-based sector weakness. Defensive names in healthcare, utilities, and some consumer staples were the strongest, while everything else ended up in the red.
Concerning to me was the continued selloff in technology. In order to continue the intermediate rally we’ve been enjoying, technology will have to go higher, as will [...]
Posted on May 6, 2009 by Adam
Good Afternoon traders,
The market recovered from what should have been bad news, with the Bank of America warnings that surfaced last night. Excellent payroll numbers this morning skyrocketed futures higher. The market was hestitant, however, to move higher during the day. The S&P spent most of its time whipping around between 900-915 or so before [...]
Posted on May 5, 2009 by Adam
The Yankees/Red Sox game is in a rain delay, leaving me time to write about one of the topics I am most passionate about! For an idea of what I think of the Boston Red Sox, check out this link).
In the aftermath of this “great recession”, as it’s now being called, we are going to [...]
Posted on May 4, 2009 by Adam
I’m hearing a lot of buzz about oil. China’s numbers today have helped commodities a bit, but I hear traders whispering about a range capped by the level of $55/barrel.
I looked into this a little bit more. If you look at a point and figure chart of crude oil, printing 55 will put it onto [...]
Posted on May 3, 2009 by Adam
Out of all the indicators and oscillators available to swing traders these days, few are as widely accepted and revered as the marvelous MACD. The MACD, which stands for “Moving Average Convergance and Divergance,” is used to guage market posture. This indicator can help you determine whether or not a particular stock is overbought or [...]
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Be on the lookout for an extended pullback.