Archive for October, 2008

  • Flexibility Of Opinion
    , October 28th, 2008 at 3:39 pm

    is crucial to short term success in these volatile markets.

    If you expect nothing and are prepared for anything you should never be surprised.


    Daytrading An Afternoon Rally from brian shannon on Vimeo.

  • There is Always
    , October 28th, 2008 at 3:00 pm

    another level of potential resistance when the market experiences a counter trend rally. That level appears to be the close from last Thursday (near 3050). A pullback towards 30.00 (near the 5DMA) would be ideal, but not necessary, for a new level to launch higher from. Be careful not to let your guard down, protect gains.

  • Improving, but..
    , October 28th, 2008 at 2:25 pm

    the 5DMA is still declining and the recent resistance ~3020-3030 is just above. I still believe longs should not be trusted for more than a daytrade. I would be more impressed if the market can move above 3030, then pullback and hold the 5dma as support.

  • Unimpressed
    , October 28th, 2008 at 1:48 pm

    The headline of Dow +195 will look good in mainstream media if it can hold, but the market is still in a longer term downtrend and stuck in the middle of the range from the last 3 days.

  • Trade Video
    , October 28th, 2008 at 12:26 pm

    I uploaded a video of a trade from this morning in QID, I also gave some information on how to read and use Level 2. You can view the video on the bonus tab of the BOOK SITE Remember to use lower case when logging in with the username and password on page 184.

  • New Lows Coming?
    , October 28th, 2008 at 11:09 am

    2890 seems to be finding buyers again, but the more times support is tested, more likely it is to fail. The trend remains lower. The recent resistance near 3020 now has added significance with the location of the declining 5 DMA

  • Money Management
    , October 28th, 2008 at 6:55 am

    Money you don’t lose is just as real as money that you win.
    ~Roy Cooke

  • S&P 500 (SPY)
    , October 27th, 2008 at 6:55 pm

    could be headed for levels not seen since 1997 if it continues beyond the October 2002 low and that could come quickly.

    The chart of the Fed Funds was taken from the fine blog LOCKE ON STOCKS

  • Stock Market Video Trend Analysis 10/27/08
    , October 27th, 2008 at 4:07 pm

  • Pullback to VWAP
    , October 27th, 2008 at 2:38 pm

    The Qs broke the trendline, but as I often point out, a break of trendline only tells us that the rate of change has slowed, it does not assure a reversal. The market is now trying to find support just above the daily VWAP and it will have to hold here if buyers are gouing to try to turn it in the final hour. THe 5 DMA continues to decline so if a rally does materialize it should not be trusted for anything more than a daytrade.

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