Corn and Wheat May Resume Downtrends
At the time this is being published, the S&P Globex Futures are trading 2.30 points lower and the bond market is trading down 4 ticks.
Shorting Opportunties on March Corn and Wheat
At the time this is being published, the S&P Globex Futures are trading 2.10 points lower and the bond market is trading up 2 ticks.
Remain Disciplined
Heads up, the Fed is scheduled to meet tomorrow.
Nasdaq Gaps to All-Time Highs
The March NASDAQ 100 (NDH0), gapped open to all time highs on todayGÇÖs open (a) but failed to hold above the open (b).
Options-Expiration-Related Selling
Heads up, the cash S&PGÇÖs ($SPX)tailed off (in other words, sold off from highs) late in the day to close poorly. This selling appears to be options expiration related.
Option Expiration Coming Up
Heads up, tomorrow is triple witching (option expiration). This should make for volatile trading.
Tonight, we have 4 indicators pointing higher on the Market Bias Page. This suggests a strong upside bias for tomorrow.
Trading Experience
Who wants to be a money manager? A good friend of mine has a grand total of 7 weeks GÇ£tradingGÇ¥ experience. I use the word trading loosely as in reality, his experience is based on entering a trading contest and GÇ£tradingGÇ¥ his fictitious $100,000 account during that time.
Pullbacks and Trendlines
When analyzing pullbacks, I often like to draw a trendline from highs and wait for the stock to break above that trendline before attempting an entry.
Patterns and Volume
IGÇÖm often asked about what role volume plays in set-ups. First and foremost, I think the pattern supercedes all other factors. In other words, if I really like the pattern, IGÇÖll trade it with or without a volume confirmation.
Be Prepared
A friend of mine is one of the best stock traders I know. In fact, his track record over the past 10 years has been phenomenal. I was discussing some of my recent trades with him.
Stocks of Interest
Autodesk (ADSK)on the Pullbacks List, is a textbook flag pattern. Notice the strong uptrend that occurred before the pattern and the slight “drift” down in the flag.
Buy Low and Sell High?
“Buy low and sell high” is an age-old Wall Street adage that we’ve all heard again and again. The problem? The cheap often become cheaper. Today’s action in Lands End (LE) provides a great example.