Short Squeeze Leads to Very Overbought Territory
Zero Hedge reported yesterday about the major short squeeze which is hitting the market now and driving higher the most shorted names. Click here to view the report. This squeeze hits the hedge funds the most as they usually have more balanced portfolios and they are likely driving up emerging fund ETFs where they’re heavily […]
Emerging Markets Bounce Back
The Asian markets are going to lead the emerging markets continued rebound today. The U.S. markets could see a good start today but any concerns over Syria will stop it the same way it did on Friday. But the with situation waning and the global economy bouncing from oversold conditions, the path of least resistance […]
What’s New in Chairman’s Club for Fall 2013
Now that summer is over and things are back to full speed I’d like to keep you updated what’s happening in Chairman’s Club. 1. Thursday at 4:30 pm ET we held an Alpha Club meeting, where I introduced the ConnorsRSI Selective Trading Strategy. ConnorsRSI Selective applies multiple day readings of ConnorsRSI to identify the exact […]
Overbought Conditions Remain for Now
The market remains overbought and with the today being the second day of the Jewish New Year, trading will again be lighter than normal. With a military strike to Syria going through an international debate, there remains an added pause to money being committed to the market. Like yesterday, with the market where it’s at, […]
Holding for Now
Subscribers should have locked in their gains in SPY on the close last night. The market is slightly overbought and with the today being the Jewish New Year, trading will be lighter than normal. With Obama out of the country it’s doubtful a military strike will occur. With the market where it’s at, there’s few […]
Syrian Situation Persists
The market is neutral as all eyes remain on Syria. We’ll look to lock in our gains in SPY should the market rally today. Making You a Better Trader To improve, you must continuously learn… Ernie Chan is one of my favorite researchers and I always enjoy reading his work. I just completed his new […]
Oversold Conditions as Global Tension Deflates
The market is moderately oversold but with the sabre rattling in Syria dissipating, the futures are poised to rally. We’ll look to lock in our gains in SPY should the market rally into the close. The above excerpt is from Larry Connors’ Daily Battle Plan – A professional-grade trading information service that will help you […]
Light Trading at Summer’s End
With today being the last business day in August, volume will be extremely light unless something from Syria occurs. The sabre rattling has lessened and should the Obama administration find a way to save face while avoiding a strike, the global markets will likely rally, especially next week. Have a great 3-day weekend! The above […]
Tread Lightly in Today’s Market
As the situation in Syria goes, so goes the market over the next two days. Any signs of containment to the situation likely leads prices higher throughout the world. Because the three day holiday is upon us, liquidity is less than normal and a move in either direction could be substantial. Please use caution here. […]
Syrian Conflict Continues to Dominate
Syria is obviously the determinant over the next few days. Yesterday’s pullback was orderly and leaves the market oversold but not at extremes. Any type of positive resolution from the Syrian situation will likely lead to a good end-of-the month rally where the bias resides. The above excerpt is from Larry Connors’ Daily Battle Plan […]
How to Trade Multiple Up & Down Days in a Row
Securities that rise or fall multiple days in a row tend to reverse a high percentage of the time (oftentimes over 80% of the time).
Syria Shakes Global Markets
The situation in Syria has now created an unknown which is going to take volatility higher today in what is usually a very quiet week. Most of world markets continue to decline (with or without Syria) while the U.S. remains well above its 200-day ma. It looks like we’ll have the opportunity to capture a […]