admin, Author at The Steady Trader

Euro Stoxx 50, Dancing On Support Line

I wanted to point out the support area again on the Euro Stoxx 50 this early morning. The uptrend line has been solid support since May 2010 and that is again where price has meandered to over the past two days. It's make or break time here as far as I'm concerned. If we break […]

Friday Morning Market Thoughts

Boom! Nonfarm payrolls 54k vs 169k concensus expectations. The futures shaved off a quick 15 points on the back of this and are hovering around the $1295 mark. Yesterday's trade was marked by consolidation, which was to be expected after Wednesday's brutal beating. As laid out in the morning market video today, we don't see […]

How’s This For Volatility:

Here's the dollar index futures contract intraday today. Volatile enough for ya? To me this just speaks to the massive uncertainty currently.

Key Price Level For MGM Resorts (MGM)

We are watching MGM here near the $14 level. Over the past eight months that level has served as resistance and support on and of. MGM is back at that level again and any bounce from here could be a good long setup. On the contrary if the $14 level should fail a short setup […]

Financials Leading The Broader Index Today So Far

Look at the XLF (blue line) leading the SPY up and away today so far.

Today’s morning market video is ready to view here:

http://steadytrader.wpengine.com/video-2/video-may-2011/

Financials Outperforming So Far Today…Setting Up For A Trade

The finnies are outperforming today in a relativ basis. Simply put as of right now the SPY is down 0.33% while the XLF (financials) is up 0.33%. As I watched JPMorgan (JPM) and Bank of America (BAC) trade over the past few days I couldn't help but start to feel more and more constructive on […]

Lunch Time Fun – Awesome Baseball Catch!

Check out the ups of the ball girl. And they say white men can't jump… http://www.youtube.com/watch?v=4SqJz0NgnnE

Market Wrap-up May 3

Rollercoaster of a day today and we again traded the spx futures and silver (SLV) well today. Breakout trades like APKT, HLX, and ZAGG continued to hurt but they seemed to slow somewhat. We opened new long positions in GILD and closed all the silver shorts and even went long some into the $40 […]

Author: admin