December 2009 - TJMacTrading

The Hanging Man Reversal

December 30, 2009

Monday’s SPY chart produced a candlestick pattern called the hanging man. This is a bearish pattern. To some, Monday’s candle may look like a hammer (a bullish signal), it is the positioning of the candle (at the top of the rally) that makes it a bearish pattern. The hanging man alone does not initiate a sell or short signal. Tuesday’s price action, closing below the body of Monday does however confirm this bear signal (see the write-up on candlesticks). While…

Wk52: Market Forecast

December 27, 2009

Tim Racette

Forecast

In the week ahead look for these news announcements to act as potential market movers… Last week of 2009! Expect a light volume week as traders are typically on holiday during the period between Christmas and New Years. Low volume equals sharper, more vicious swings on the moves that do take place as there is less liquidity in the markets. Consumer confidence could shake things up a little on Tuesday; otherwise have a good week and focus on improving yourself…

Screen Setup & Excel Spreadsheets

December 24, 2009

Tim Racette

Getting Started

Below is a quick video that outlines my screen setups along with some of the excel spreadsheets I use for intraday trading.

End of Year Homework

December 22, 2009

Tim Racette

Trading Rules

As the end of the year rolls around, volume tends to diminish as traders go on holiday. Now is a great time to look back across the year and reflect on things you have accomplished, set goals for 2010, and improve your trading as a whole. Below are some things you can do as the New Year rolls around to improve your trading… • Review your current year goals and evaluate your over/under. • Create new goals: Push your limits, get…

Wk51: Market Forecast

December 21, 2009

Tim Racette

Forecast

In the week ahead look for these news announcements to act as potential market movers… Shortened week this week. The markets are closed Friday with a 1:00 PM EST close on Thursday. We are watching for a breakout higher, or a break below the tail of Friday’s hammer. Those two points should produce some sort of follow thru. Otherwise it looks like we will be waiting till January to see any directional moves. Stay tuned for some year end homework…

Market Higher?

December 17, 2009

Tim Racette

Market Update

While we have been bouncing between roughly S&P 1085 and 1115, many would be looking to short this last move, however with such a powerhouse week of news this sideways movement seems quite bullish. The list of stocks making new 52-wk highs each day continues to be extensive. If we break $1116.25 on the S&P I would be anticipating a spike (at least intraday) in the markets. This has been a very difficult intraday trading environment and the holidays it…

MoneyShow.com Video Interviews

December 16, 2009

Tim Racette

Interviews

Below are a series of short interviews talking with Trader Tim… 1. The Importance of Setting Clear Goals2. The Intra-day Market Sessions3. Balancing Personal Time with Your Trading4. Developing Trading Rules

Nov09 Recap

December 14, 2009

Tim Racette

Monthly Recap

November began on the up and up with a quick rally forming a higher low on the daily chart. However, the second half of the month has been nothing but chop. Looking at the monthly chart, we broke above the inverted hammer which was formed right at the 50% Fibonacci Retracement. The declining volume on the move up is not promising for the bulls. Over the long term we would be looking for some sort of sizeable pullback perhaps over…

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