Last week I looked at the Big Idea items that were still pending in order to get the uncertainty out of the markets, and we did get some items settled at the end of last week. For starters President Elect Obama named his economic team, which was well received by the markets. In addition he [...]
Archive for November, 2008
22 Nov
Fear on Wall Street
When will the selling end?
A question many will ask but nobody knows for sure. The Standard & Poor’s 500 index closed today at 752.44 breaking through levels not seen since 1997. You could just feel the fear based on the intensity of selling and the increase in volume. As short term intra-day traders, we can [...]
21 Nov
Day Trading Technical Analysis
11/21/2008
Day trading Technical Analysis:
On our 11/7 2008 Tech letter we pointed out key support levels along with fib levels. Well the market has breached those levels and has headed lower. Everything is trading together both commodities and stocks. Once a short term bottom is in place we should see both rally.
One thing to keep [...]
17 Nov
day trading is a skill, not a job
Most people who come to trading for a living are most likely leaving another job. They are usually leaving a salary or a position they earn their pay by the hour. Believe it or not this is one of the hardest obstacles to overcome in your pursuit of trading for a living.
In order to NET money [...]
11 Nov
Bear Market Rally
Yesterday morning the markets gapped open on the annoncement of China’s $586 billion economic stimulus package. The dow reached an early morning high of 9133 which so happens was the 20 period ma on the daily chart. The markets had rallied about 1300 points inthe last couple of weeks going into the election. There was [...]
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