How To Use TM’s Indicators: The Turtle Soup Plus One Lists
In the 1980s, a man by the name of Richard Dennis trained a group of futures traders he named The Turtles after seeing turtles raised on a farm. He chose the name for the group because he wanted to see if he could farm traders from people of all walks of life by teaching them a methodology and s
How To Find Stocks With Intraday Momentum In A ‘Momentumless’ Market
The trend isyour friend. I have traded it, used it and coaxed profits from it. Tothe charge of being a trend-following moron, in the words of my friendDave Landry: I plead guilty. However, what does a daytrader do whenthe market is suffering through a day that cant seem to find a trend, and chops
Why, When And How To Exit A Trade
One evening, whilegiving a trading seminar in the Los Angeles area, I was approached byan attendee who asked me why TradingMarkets.com had many articles on patternsand strategies,but none on how to getout of a trade, and few on trademanagement. I thought his question brought up avery salient point.
Why More And More Traders Are Trading The QQQs, Part III
In thebeginning of our look into the Nasdaq 100 Tracking Stock
(
QQQ |
Quote |
Chart |
News |
PowerRating),Part1 led us into what the Qs are, and why we should incorporate them into ourtrading. In PartII we examined basic strategies for trading th
Why More And More Traders Are Trading The QQQs, Part II
When we leftoff at the end of PartI, we went over a myriad of reasons for why you, as a trader, should beutilizing the versatile Nasdaq 100 Tracking Stock
(
QQQ |
Quote |
Chart |
News |
PowerRating), knownaffectionately as the Qs in your trading.
Why More And More Traders Are Trading The QQQs, Part I
Do you ever watchthe stocks you are tradinglanguishwhile the rest of the market goes up? Or worse, even drop, contraryto the direction of the index? Ever find some great shorts that dont seem toreach the trigger point, on a day the market goes in the tank?Perhaps all you need is an insurancepolicy
When Will Yesterday’s High TRIN Reading Kick In?
The Minis are range bound after having been turned back at the .618 retracement of the intraday range twice earlier. We’ll need to break out of this range to get something going. After yesterday’s extremely high Arms Index reading, I thought we may bounce a little more today, but again, we’re in a news-driven market.
Why, When And How To Exit A Trade
One evening, whilegiving a trading seminar in the Los Angeles area, I was approached byan attendee who asked me why TradingMarkets.com had many articles on patternsand strategies,but none on how to getout of a trade, and few on trademanagement. I thought his question brought up avery salient point.
Why We May See Increased Volatility This Afternoon…
A weak consumer confidence number, plus a missile test by North Korea sent the market down this morning. After the close, Hewlett Packard reports; First Call is looking for 27 cents a share.
Two To Look At This Afternoon
Retail is in the news today, with Lowe’s reporting better-than-expected 4Q earnings and guiding higher for 2003. The stock is currently off its highs and trading near its .382 retracement of its intraday range.
The Line To Watch
The early move was crushed by the Staten Island gasoline storage facility fire. The subsequent rally stalled at the February 4 gap area. Interestingly, it also was turned back at a trendline which started on January 29. If we can take this out, the AB=CD move off the 2/13 low would be up to the 877 area. War fears may prevent this from happening, though, but that line is certainly one to watch, as a breakout from there sure looks like it would lead to higher prices.
Two Possible Pullback Plays
More geo-political news today, as Colin Powell read a transcript of what bin Laden will allegedly be saying on Al-Jazeera Arab satellite station later Tuesday. Greenspan’s Humphrey-Hawkins testimony to Congress held no surprises.