Posted on March 24, 2009 by Adam
Just as the 800 level acted as an area of resistance on the way up, it will now become support for this pullback. Yesterday’s rally, on top of an incredible week last week, made it clear that big buyers have started to enter the market.
I want to be on the same side of the trade [...]
Posted on March 21, 2009 by Adam
After the success of my last webinar, I will be holding another FREE hour-long tutorial on the subject of price patterns.
I’ll show you how to identify and trade the most common price patterns and get you on your way to using them to make some money.
The webinar will be held on Thursday, March 26 at [...]
Posted on March 19, 2009 by Adam
The market is poised for some interesting price action after spending two days near some very important technical levels. I view this area as being very important because I see three different technical indicators all converging on the same spot.
Yesterday the market topped out at S&P 800, which it tested again this morning. 800 will [...]
Posted on March 17, 2009 by Adam
I wanted to follow up on the arbitrage strategy I discussed last week.
Essentially, I bought a position in (DXO: 4.35 0.00%) and sold short an equally sized position in (OIL: 21.55 0.00%). The idea is that, while both ETF’s track the price of crude oil, DXO has historically outperformed OIL. Keep in mind that DXO is [...]
Posted on March 16, 2009 by Adam
Hello everyone, and welcome back from what I hope was an enjoyable weekend.
Part of what I try to do on this site is to provide some clarity and ideas for those of us who are trying to make sense of what the market is doing. I know it’s been a tough few weeks, but I [...]
Posted on March 12, 2009 by Adam
Arbitrage is the practice of profiting from discrepancies in prices between similar assets. Looking at Exhange Traded Funds that track crude oil, I see ample opportunities for arbitrage in the energy space.
I noticed this last night when I was looking at a relative strength chart of USO compared to Crude Futures. USO is an ETF [...]
Posted on March 10, 2009 by Adam
I wanted to follow up on my post yesterday, where I described a point and figure strategy for a deeply oversold market.
I bought into a 3 box reversal in (MET: 40.62 0.00%) yesterday at 12.50 and cashed out this afternoon at 15 for a 20% profit. Quick and dirty, nice and easy.
Posted on March 9, 2009 by Adam
I was looking at stocks last night and a lot of stocks that have been holding up well over the last month look like they are about to complete reversal patterns. I find it hard to get bullish on those stocks despite the oversold conditions of the market, because I have a feeling they will [...]
Continue ReadingPosted on March 4, 2009 by Adam
Hey, look: The market’s up 3%
I told you so….
Happy Trading!
Posted on March 3, 2009 by Adam
The industrial goods space is INCREDIBLY oversold. To get a sense of just how much, check out the bullish percent for the group.
As I said before, I am on the lookout for a rally coming out of nowhere in stocks. It’s not a sure thing, but the probabilities continue to increase. I would like to [...]
Be on the lookout for an extended pullback.