Traders Expo: Las Vegas!
Visit Las Vegas this November 18-21, 2009 where Tim Racette will be a guest speaker, teaching traders how to create a solid trading strategy. Click here for more info.
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Wk41: Market Forecast
In the week ahead look for these news announcements to act as potential market movers…· Weds: Retail Sales 8:30 AM ET· Weds: FOMC Minutes 2:00 PM ET· Thurs: Consumer Price Index 8:30 AM ET· Thurs: Jobless Claims 8:30 AM ET· Thurs: EIA Natural Gas Report 10:30 AM ET· Thurs: EIA Petroleum Status Report 11:00 AM ET· Fri: Treasury International Capital 9:00 AM ET· Fri: Industrial Production 9:15 AM ET· Fri: Consumer Sentiment 9:55 AM ET Heavy Earnings! View latest earnings…
Wk40: Market Forecast
Market ForecastIn the week ahead look for these news announcements to act as potential market movers…· Weds: EIA Petroleum Status Report 10:30 AM ET· Thurs: Jobless Claims 8:30 AM ET· Thurs: EIA Natural Gas Report 10:30 AM ET· Fri: International Trade 8:30 AM ET After a long rally, a pullback is finally upon us. The $1000 level is a strong psychological support level and we have identified the current daily trend as down due to the lower high on 9/29.…
Anticipation Doesn’t Pay
Does it pay to Jump the gun? In most cases, No. Though there are times it is profitable, it is not highly probable. Catching the few cents or points ahead of the breakout or breakdown is not worth the risk that it entails. When entering a trade around a specific candlestick or pattern formation, it is in your best interest to wait for the breakout above or below the pattern such as a hammer before entering the trade. In the…
Another leg higher?
Today’s decline and rally happened on relatively big volume, signaling a continued move to the upside. The candlestick formation that was formed, called a hammer indicates that first the bears were able to push prices lower, but later in the day the bulls overpowered and brought prices back up near the open, this is a bullish sign. We’ve also had plenty of stocks making new 52-wk highs over the past week and only a few making 52-wk lows. We know…
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