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Wk07: Market Forecast

In the week ahead look for these news announcements to act as potential market movers… On a daily chart of the SPY we can clearly see the down channel that we are in. The hammer break below the channel could be classified as the final flag lower signaling a reversal pattern, and as talked about in the market recap, there is potential for a breakout as we sit at this downtrend line. The horizontal overhead resistance is strong and not…

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Wk07: Stocks to Watch

These names we are looking at this week. Long: BA, CMA, DECK, HNZ, HOT, LTD, MCD, MO, NBL, Reenter on pullback: HAR, HAS, PNRA, TPX, TSN Short: BVF, ENI, TRMK, GME, TNDM We don’t normally talk about long-term plays; however we couldn’t help but notice UNG. A potential double bottom pullback (reversal pattern) has formed. A break above $11.00 could send this stock upwards.

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Trading like a Cheetah

Often traders feel that they MUST be trading all the time. This couldn’t be farther from the truth. A successful trader will act much as a cheetah does hunting its prey in the African Safari, striking less often, but with vengeance. A Cheetah will track a herd of gazelle and wait low in the outlying grass, carefully identifying his prey of choice, the weakest, the one with the highest risk/reward. It is only then that the cheetah attacks with full force capturing its…

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Wk05: Market Recap

In last week’s market forecast we talked about a target for the S&P of $1030. We came down to the $1045 level and while Friday’s price action resulted in a large bottoming tail hammer, we feel that after a small bounce we should continue lower. We also saw the Vix spike above the prior swing highs, which we talked about last week as well.

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Wk06: Market Forecast

In the week ahead look for these news announcements to act as potential market movers… A few crucial economic news announcements noted above. We are looking for more downside action with a short term S&P target of $1030. After hours, it is interesting to go back and print out daily and weekly charts from years past, including 1929 and 1987 and look for similarities in these charts to today’s price action. For those who follow Elliot Waves principles, this is…

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Wk06: Stocks to Watch

We continue to play the major top line figures rather than pick individual stocks. For those trading the E-mini’s intraday and feels that the increased volatility has been whipping them around, look to trade the SPY, DIA, QQQQ or IWM. 500 SPY shares are equal to one E-mini S&P contract. Playing with one or two-hundred SPY shares allows you to scale out your position where one or two E-mini contracts does not. On big days you must be trading. It’s…

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Paul Tudor Jones

Here’s a really great documentary video about one of the most successful traders ever, Paul Tudor Jones. Jones is a multi-billion dollar hedge fund manager for Tudor Investment Corporation.

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