Major Top in Dow Transports?
this chart from one of the readers from businessinsider.com is key to watch and is very much in line with our forecasts beyond the next few weeks.
Early Thursday Morning Market Thoughts
It goes without saying, yesterday's market action was ugly. The clearest signal of further risk aversion in my mind came with the fake breakout higher on Tuesday, the last day of May. In hindsight it is now clear month-end games were in high gear last week, and until Tuesday of this week. The blatant disrespect […]
Short-Side Opportunity in VMWARE (VMW)?
VMWARE has become traders' favorite momentum name over the past twelve months or so, and for good reason – even if few understand what 'cloud computing' really is. The stock bottomed in late 2008 near $17 and reached a new 52 week high yesterday at $102.74. In 2011 so far the stock displayed great volatility […]
Closing Research In Motion (RIMM) Short
Folks, we just closed (i.e bought back the out of the money calls we sold a while back) our short in RIMM. We discussed opening this trade HERE and HERE. Now that our profit target near the $40 area, and at the bottom of the long-term downward sloping channel has been reached we feel taking risk […]
Do You Have A Trading Plan? Consider Ours
Without a clear trading plan no one can make money consistently. A trading plan allows the trader to execute his/her trades in a consistent manner and without letting emotions get in the way. Clear entry points, stop-loss and profit targets are predefined by in the trading plan, allowing the trader to focus on execution […]
A Look At Silver After Last Night’s Crash
Last night silver futures fell as low as $42.20, about a 10% sell-off. As of this writing the futures have rallied back up above the $45 mark, but still down over 6% on the day. See the intraday chart. On the daily chart note the uptrend measured from the end of January is still in […]
Baltic Dry Shipping Index Not Participating
The baltic dry shipping index reflects rates charged for commodities shipping. The index is usually considered a fairly decent indicator of economic demand for goods and growth but over the past two years the index has done nothing at all, indicating demand for shipping is not on the rise. I have pointed this out […]
Breakout In Crocs, Inc (CROX)
After reporting earnings last Thursday the stock has come back to a the $20 area which previously served as resistance. We think a trade is setting up here for a bucket 2 swing trrade.
We Are Short Silver Again, For A Trade
After scaling out of the short SLV last week for a scratch trade, today we re-entered on the short side. See the analysis from earlier today here: http://steadytrader.wpengine.com/a-look-at-silver-after-last-nights-crash/ After SLV gapped down this morning we went short on a 50% retracement of the open gap, at 44.98. Today's earlier low near $43.50 will be target 1 […]
AMZN On The Run Higher Again
We pointed this out in the weekly newsletter (http://steadytrader.wpengine.com/newsletter/) over the weekend, and today AMZN is off to the races higher again. At some point here soon a pause is due, but just so we've mentioned it…these inverted head and shoulders patterns are pretty to look at but don't work well (as with most things) […]