Indecision Looms On Markets
Markets appeared set to open flat on
Thursday as indecisiveness still weighs on the market.
Flipping Charts A Fruitful Endeavor?
As I was doing my research for this
column I combed through hundreds of charts looking potential candidates that
would meet my criteria for trading. My friend Dave Landry taught me that you can
learn plenty by just flipping through 500-600 charts a night. As you many of you
know trading isn’t always black and white. What I have found is that a swing
trade setup has the potential of becoming an intermediate term trade.
Channel Breakouts
As an
intermediate term trader, patience is required for stocks to set up. Ideally we
would like to see specific patterns such as Cups with Handles or nice multi week
basing patterns, but as a trader I also look other patterns that could produce
trading opportunities, such as double bottoms and channel breakouts.
How Fed Uncertainty Whipsawed The Market
Stocks had a roller-coaster ride
throughout Wednesday’s trading day, only to add on gains in the last hour of
trading.
Warnings Weigh On Markets
Stocks appeared set to open lower Wednesday as overnight
warnings pressured pre-market action
Protecting Profits
While I remain bullish on the high RS
breakout stocks, as I’ve suggested earlier, the market is definitely making me
edgy enough to want to take profits. Even within ongoing intermediate-term
rallies, you can encounter pullbacks that evaporate paper profits.
Stock Opening Higher
Stocks appeared set to open higher
Why Oracle Wasn’t Enough
Stocks opened higher Tuesday on
positive news from Oracle but steadily gave ground throughout the session.
What The Market Was Waiting For
The markets ended
mixed Monday with the Blue Chips splitting the verdict with the big-cap techs
Following Through
As intermediate-term momentum traders,
we prefer to see our new buys break out on strong volume. As I’ve pointed out
many times in the commentary, that’s the best possible scenario.
Stocks Set to Open Flat To Lower
Stocks appeared set to open flat to
lower Monday.
Why Biotechs Bucked Downtrend
Stocks suffered another one-two punch
Friday as two networking giants issued warnings, accompanying negative news and
speculation surrounding key Dow stocks.