Archive for the 'Tools' Category

Nice…Turnaround Tuesday

Published on July 20, 2010, 10:36 pm in Opinions, Tools and Trading. 0 Comments Tags: , , , , , , , .

So wasn’t there some news this morning about bad earnings from GS? And weren’t C BAC GE still bad? Isn’t everyone worried about the bank stress test in Europe? So why are all the traders happy today?

Funny that the US dollar did not matter, or at least there is not that strong correlation between the US$ and the markets. Oil still seems to be correlated, as oil went up so did the indexes.

Lots and lots of earnings on Wednesday…and even more on Thursday! I’m interested in MS WFC KO QCOM and NFLX. That should give me an idea of how the world is doing. 8) And if the markets can’t rally on this evening’s AAPL report, then we’re in real trouble!

I apologize for some short blog entries, but I’m having technical difficulties with my hardware this week. I have tracked the problem(s) down, but new parts will take 7-10 days. In the mean time I’ve fired up a backup PC and getting it ready for trading tomorrow.

See you on the playing field.

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Try it Free!

Published on July 13, 2010, 7:46 pm in Tools. Closed Tags: .

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Not much, but still up!

Published on May 17, 2010, 9:34 pm in Tools and Trading. Closed Tags: , , .

As I tweeted today, a down Friday equals an up Monday! And that has held for an entire year. Also Stock Trader’s Almanac said “Monday before May expiration, Dow up 19 of last 21.” …which makes it 20 out of 22 now. But that’s not all, “May Expiration Friday, Dow up 5 of last 6! This could be a good week. :mrgreen:

The market is sure spastic, but I’m still looking for some pressure to the upside, as could be seen this afternoon. That was a big move off the lows. But again, futures are showing their negative side….but then again, China hasn’t opened yet. And don’t forget yesterday’s big overnight reversal.

I added to my UCO position as I’m still looking for support around $10. It did overshoot, so I added. I have a stop under today’s low now. Here’s a couple of articles I found today on oil:
Why Oil Prices Are Plunging Despite the Gulf Spill

China Studies Using FX Reserves to Exchange for Oil

And another interesting story:
How P&G Plunge Derailed One Investor

Ok, I better update my TCnet and do some scans!

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I told you so….

Published on May 13, 2010, 10:37 pm in Tools and Trading. Closed Tags: , , .

This is one of those times, rare indeed, when I can say, “I told you so.” It started in the pre-market and the markets meandered in a fairly small range….until 3PM, and then the trap door opened and down we went. I was out most of the day so I didn’t get a chance to play any of the inverse ETFs I mentioned yesterday. But, on my return just about 3PM, I did have a chance to place an ES short for a few points…so it was a good day! :D

I’m thinking this downward pressure will stick around for a day or few, but we will be setting up for another bull run. I’m getting real interested in oil. If you’re not a futures trader with CL or QM, the oil e-mini, you may want to put the oil-related ETFS like: USO DBO DIG and UCO in your watchlist. Or maybe some of the oil service companies like VLO and OXY. Just watch oil and see if we get some support around the February low, say in the $72 – $70 range.

On another note, I finally made it to Facebook. So come and visit me and become a friend. I promise I’ll get this figured out and reciprocate! :mrgreen:

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Listen to the crash II

Published on May 13, 2010, 6:25 pm in Tools and Trading. Closed Tags: , .

A few days ago I posted an audio of tradersaudio.com squawk of the “flash crash.” Today I found this video enhanced edition directly from Ben Lichtenstein on You Tube. May 06, 2010 CRASH – S&P PIT Live Squawk Broadcast – TradersAudio.com. I still like re-living it and the charts help visualize the day! :twisted:

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Don’t do today what you can put off until tomorrow

Published on May 11, 2010, 10:51 pm in Opinions and Tools. Closed Tags: , , .

All we’ve done is postpone the problems:

Even though one of the worst scenarios — a Greek default — has been avoided for now, in many ways solving the bigger problems have simply been postponed and new issues could emerge in places such as Portugal and Spain,

said Nagayuki Yamagishi, a strategist at Mitsubishi UFJ Morgan Stanley Securities. Read the whole story, Germany Backs Euro Package as Markets Sober Up.

Do any of you use Twitter or StockTwits to keep up with trader sentiment during the day? This morning these 3 tweets popped up all at the same moment this morning, all looking at the same ES S&P e-mini futures:
midget : $ES_F another CRASH coming along be cautious

Scalper68 : so, anyone buying this gap $ES_F

desifinance : $ES_F futures are deceivingly negative this am. I think we are in for a ride. Push down early followed by buying.

That pretty much covers the gamut of thinking….from crash to a move up! By the way, desifinance had the right prediction. :-)

And also, don’t forget to follow me, WhatTheTrading, at Twitter or StockTwits.

Some interesting stuff for your web surfing pleasure:
The forthcoming golden age of stock picking

Biggs Says U.S. Stocks May Rise 20% as Crisis Eases

European Bailout Is No TARP Deux

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Listen to the crash

Published on May 7, 2010, 9:58 pm in Tools. Closed

Here’s an audio clip that is going viral among traders. It is Ben Lichtenstein of tradersaudio.com squawking the crash on Thursday afternoon. If you can recall looking at your charts at the time of the breakdown, you can re-live those moments listening to Ben. Listen to the crash. There are a few breaks in the transmission but listen all the way though. It comes up just as fast as it went down. Ben’s excitement is contagious!

Ben Lichtenstein and tradersaudio.com has NO affiliation with WTFtrading.com. I did subscribe with him for about 6 months a year or two ago when I was learning S&P e-mini trading. I loved listening to his calls and commentary during the day and the tradersaudio website has a lot of information about current news and terminology, which you may want to look at before listening.

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More stuff

Published on May 6, 2010, 10:19 pm in Opinions and Tools. 1 Comment Tags: .

I thought it incredible that the NYSE A/D volume at the low of the day was negative 51:1, yes, -51 to 1. Can’t remember ever seeing that before!

And a quote today from Don Worden at Worden.com, the publishers of Telechart, Stockfinder and FreeStockCharts.com:

The market has to prove itself before a bear can advance into a bull market once again. It can only prove itself by going up and down a number of times until it becomes clear that it has the strength to go on to better things. It does this by providing comparisons with preceding trends in the opposite direction.

So just remember, when all this bullsh!t is done, we’re going up!

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Apologies

Published on May 6, 2010, 7:38 am in Opinions, Tools and Trading. Closed

Apologies all around to anyone who could not get to the site last night. My hosting company had a problem so I couldn’t even make a new entry (I’ll try to catch up today). Looks like it may be resolved this morning. Again thanks for following.

Just some thoughts from yesterday’s notes:

  • Imagine what would happen in the US if the govt told all welfare and other subsidy recipients that they had to work for it or god forbid, they would not get their subsidy anymore! Greek riots!
  • Wow! The euro is still collapsing
  • Characteristics of this market are changing and it may dawn on the bulls that the party may be over. It may be time to sell rallies and not buy the dips :-(

Today (Thursday) is looking for a bounce and maybe some good reports on unemployment may be the catalyst. So keep on your toes and prepare to go both ways. See you on the playing field. Happy trading :!:

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One Day Wonder

Published on April 29, 2010, 10:00 pm in Opinions, Tools and Trading. Closed Tags: , , , .

It looks like the bears only have enough energy for one day. Every once in a while, like yesterday, the bears come up with enough energy to drive the market down. But they soon exhaust themselves and give the field back to the bulls, like today. I think it just may be a dance in this whole topping process, or part of the correction process, but these swings can make sausage out of your portfolio….so you better find a bun to put it into. :mrgreen:

I tried to have another great ES trading day, but I traded 2 out of 3 losers…and my one winner could not make up for my 2 losers. I did clear out some of my short positions, but the way the indexes closed up strong, was to me a signal that it may be time to short again.

After hours today had some interesting mews. A Federal criminal probe opens into Goldman Sachs and staff over possible securities fraud in mortgage trading. That will not sit very well with the gang down on Wall Street. SEC sends Goldman case to prosecutors. Remember what happened two weeks ago when GS had some bad news? Uh oh.

Some strange happenings today…did you notice how the goveernment jobless claims every week raises the previous weeks numbers so that this weeks numbers look like they dropped a whole lot more than it should? Are we really that dumb? Did you notice that this is about the 10th time that Greece has had a report that it is being bailed out? And that the other Euro loser countries will need to help out…like Portugal, Spain and Italy? Did you notice how GOOG has been having a tough time lately? Did you notice the VIX is back to its lacksidasical self? Did you notice that these up moves continue to go up on lousy volume?

Ok, here’s a postscript: I’ve been working on explaining how I use different indicators and tools. It’s a work in progress, but I would appreciate any notes or comments you may have. Check out How?, or Moving Averages or Stochastics….and keep checking. Thanks.

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