Category: market notes
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Game Plan and Free Trade Report
Here is my game plan for the rest of the week and free trade report. Watch for the key SPY support levels. A continuation of the down move would setup some nice “oversold bounce” trades. http://docs.google.com/Doc?id=d5z8q8w_1296ffhsmdfn September 2, 2009 Note: I will not have access to a computer Thursday and…
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Monday Game Plan and Free Trade Report
To see the report with charts, click here August 24, 2009 Market Notes: In the law there is a term called “de novo”, which means to consider a matter anew. It’s commonly used when an appeals court reviews a lower court decision. The appeals court can review the case with…
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Quick Hit Game Plan
1. SPY has decent long entry here at support. Tight stop. 2. Short SPY and watchlist stocks on bounce. 3. Many watchlist short setups can be entered long as snapback trades if we get major weakness in the coming days. 4. Tech looks bad. Short Qs on stength.
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Monday’s Free Trade Report
Here is the report I sent to subscribers to start the trading week. http://docs.google.com/View?id=d5z8q8w_1145dtxkzjcp A lot more longs than shorts, which is a clue for the overall market.
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Coal and Solar
I like the Coal and Solar sectors. I will probably enter one or two stocks from these sectors on a pullback.
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Game Plan For Monday
Here is my detailed plan for Monday and the coming week, as sent to subscribers in today’s Trade Report: May 18, 2009 Market Notes: The market has pulled back close to the entry point we’ve been watching (87-88). The pullback is not ideal, as price has not pulled back in…
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Thinking Out Loud (both on and off topic)
1. The overall market looks good, but resistance is looming. 2. A few more points down and I will start letting go of my short positions (already got rid of RTP). 3. I will likely enter SPY around $87-88 4. Most stocks are pulling back with bullish undertones (low volume,…
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Spy Chart
I currently have only one positions (SPY at $84.03). The chart below show looming resistance levels, which correspond with my targets.
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Monday’s Game Plan
Here is the report I have sent to subscribers laying out my plan for Monday: Market Notes: Let’s go over the state of the market on different time frames. The long term trend is bearish. We are still in a bear market. While I have not posted a long term chart,…
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Poker, Trading and Making Adjustments
In my Thursday report to members, I talk about the current market, making adjustments and poker: Before we begin, let me compare what’s going on now to poker. In Texas Hold’em, the best hand pre-flop is pocket Aces. Most players try to get as much money into the pot as…
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10 Things I Think I Know
1. I am waiting for a pullback to enter long 2. A bottom may be in, but pay attention to volume for clues of a pattern failure 3. Tech is showing relative strength vs the market. Could be a clue for the next leaders. 4. NFLX bottomed in December and…
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Monday’s Game Plan and Market Notes
Here is my plan for the market this week. The member only “Trade Report” also included my focus list, consisting of the stocks I plan to trade if we get a pullback. Market Notes: As I noted last night, the cup and handle pattern emerging from a bottom formation looks…
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Breakout Stock: CTRN
During big down days, it pays to watch for stocks holding up well. CTRN, a recent breakout stocks, is doing just that.
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On Probability, Trading and Current Market
What do I mean by high probability? In trading, I define a high probability setup as one that gives me a significant edge over an average trade. For instance, in my back tests, when stochastics hit 90 (extremely overbought) in a bear market, coupled with a few specific trading setups,…
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Another Bullish Signal
With so many stocks showing bullish patterns, I spent the better part of three hours today just trying to narrow down my focus list. This is another sign that this market has legs. If not a reversal, we should bounce towards another resistance level in the coming days or weeks.
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Game Plan for Friday
Here is the game plan for Friday, taken from today’s Trade Report: (See this post for a free seven day trial and 30 minute private chat) Market Notes: The market drifted up today on decent (but not great) volume, and is nearing the $85 resistance level. Stochastics are very…
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The Game Plan
Today’s move was unexpected and has changed the character of the market and for the moment, it looks like the reversal is in. Take a look at my post right after the market close: http://themarketspeculator.blogspot.com/2009/03/definate-change-in-market-character.html It’s not time to add shorts, even with the big move. However, I’d like to…
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Definite Change in Market Character
Today marked a change in character for the market. SPY has now convincingly mounted the 50 day moving average, the volume pattern shows accumulation, RSI is steady above 50 and the price bar is of the “breakout” variety. I’ll be looking for a pullback to initiate longs.
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Game Plan: Play the Pullback, Then Buy
My current game plan is to play the expected pullback (based on overbought conditions, volume, price candles and resistance levels) with inverse ETFs (currently in SRS and SDS). Once stocks on my bullish focus list pull back to support levels, I’ll reverse and start buying.