Archive for October, 2008

  • Yesterday’s High
    , October 30th, 2008 at 9:58 am

    is acting as resistance for the Qs as trading remains very choppy. Perhaps we need to consolidate Tuesday’s move more before another rally attempt.

  • Slow Shift In Sentiment
    , October 30th, 2008 at 9:03 am

    Twice this week the market has experienced a violent selloff in the final 15 minutes of trading. Both times the market has gapped higher on the next open (Qs are trading at 32.81 pre-market). For the participants who threw their stocks away in fear of a continued meltdown, they have these choices; sit on the sidelines watching in disbelief, to short the open the next day or to chase prices higher. With a slowly improving market (evidenced by the closes above the rising 5DMA) selling short doesn’t make sense to me, neither does chasing opening prices. The supply which was released to the market in the late day selloff is less supply going forward (which allows prices to move higher with more ease) and those who sold short actually increase demand as they scramble to limit losses with a gap opening. So what may be best is to wait for a slight pullback and then to look for this market to continue higher. We remain in a treacherous environment, but the sentiment seems to be slowly be turning and more importantly, prices appear to be turning, for now.

    What does not kill me, makes me stronger.
    Friedrich Nietzsche

  • Doubt and Bad Luck
    , October 30th, 2008 at 6:01 am

    If you don’t have 100 percent of the peripheral resources nailed, doubt and bad luck find a way to drift in.
    ~Bart Knaggs

  • Stock Market Video Trend Analysis 10/29/08
    , October 29th, 2008 at 4:16 pm

    Yesterday I put a bad link up for the LAS VEGAS TRADERS EXPO which I will be speaking at on November 22.

  • Be Careful
    , October 29th, 2008 at 3:35 pm

    The market came off the highs on big volume

    That pullback low will be important for the rest of the session

  • Final Hour Push?
    , October 29th, 2008 at 3:07 pm

    The initial volatility seems to have worn off and the market is holding onto the bulk of the gains for the day in eerily quiet post Fed trading. Never short a dull market?

  • Protect Your Gains
    , October 29th, 2008 at 1:47 pm

    The market has expended quite a bit of energy and volume is decreasing. Volatility typically soars right around the time of the Fed announcement.

  • Holding Up
    , October 29th, 2008 at 10:57 am

    The market is digesting yesterday’s advance ahead of the release of the Fed statement at 2:15PM Est today. It would be healthy for the market to continue to pullback towards prior resistance and the 5 DMA.

    I put a bad link up for the LAS VEGAS TRADERS EXPO which I will be speaking at on November 22.

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  • Victory
    , October 29th, 2008 at 6:58 am

    Certain athletes accept nothing less than victory.
    ~Martin Dugard

  • Stock Market Video Trend Review 10/28/08
    , October 28th, 2008 at 4:17 pm

    LAS VEGAS TRADERS EXPO

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