Perspectives After A Tough Day In The Markets
To see the entire article become a Premium Subscriber here: http://steadytrader.wpengine.com/members-area/ Yesterday’s battle left much blood on the streets and it is exactly because of days like yesterday that we a) trade/invest in multiple time-frames and b) are open to entirely change our outlook each and every day if need be. Less flexible, stubborn…heck I’ll […]
Clues To A Further Market Rally Could Be In The Financials
After speaking about the XBD to several people the past two days it dawned on me that there may be a misconception about what the components of this index are. As the name of the index indicates, it focuses on broker/dealers…and that does not include banks like JPMorgan for example. For starters, here are […]
Copper At Potential Support Level
Copper just bolted down to its 200 day moving average (red line), which could act as a level of support, if only for a bounce. Watch it here because if it jumps higher that could also be a positive for stocks.
Initial Signs Of A Longer Dollar Rally
I know I know, a 1% up-move in the dollar index and people are getting all dollar bullish again. Our job here is to look for clues and remain impartial and vigilant as we meander through this jungle calle the market. One of the clues I tend to look for are key reversal signals using […]
One Chart To Sum It All Up
The thing to remember about today's trade is that A) the world is interconnected by the banks and derivatives and B) that many more institutions and individuals these days own multiple asset classes. Regarding point A, this means that the mortgage default in Florida affects a Swedish bank as much as it could affect […]
Today’s pre-market video is uploaded and ready to watch here:
http://steadytrader.wpengine.com/video-2/april-2011-2/
Gold (GLD) Breakout
The GLD broke above $141 this morning, triggering a buy signal on our end. On the weekly chart below note the steady upward movement over the past few months (and obviously years as well) with nice consolidation periods here and there. On the daily chart note the consolidation pattern that started early March and […]
Are Semiconductors About To Take-Off?
Last week I wrote about the nice short setup in semiconductors, with a clearly defined risk stop at an important level. Let's look at the chart of the SMH (Semiconductor Holders Trust) ETF: When SMH found resistance at the 50 day moving average (yellow line) and started moving lower it looked like a classic 50% […]
Open Positions Nov 4
Symbol Open D Direction Sectors Avg Entry Stop Target 1 UA 25-Oct short cons cyc 81 87.50 70 WYNN 31-Oct short cons cyc 133.13 141 128 MS 3-Nov Long Fins 16.97 15.9 19.5 We currently only have bucket 2 positions open for purposes of discussions here.
the world held ransom by greece
its amazing that a 'small' country like greece can hold the entire world ransom that's the dark side of globalization we will try to close out or MS trade at some point today…risk into the weekend is way too big. we don't like to flip bucket 2 stuff this quickly but these current times require […]