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 April 28, 2009 by Adam
I’m always looking for ways to increase my chances of placing winning trades. One way to tip the probabilities in favor is buying assets that are displaying relative strength and selling/shorting those that are displaying relative weakness.
What is relative strength exactly? Relative strength is the tendency of a stock, group of stocks, or asset class [...]
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 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: 40.81 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 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 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 [...]
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Posted on February 10, 2009 by Adam
Some pullback, huh?
With the dow down 400 points and the VIX spiking, I have to admit I feel a little bit more worried about the state of our economy. My opinion is that we ultimately have more deleveraging to do before this market can reset itself.
Then why in the world am I looking to buy [...]
Be on the lookout for an extended pullback.