TradingMarkets Top 5 Of The Day
Welcome to TradingMarkets.com Top 5 of the Day!
In this new nightly feature, the editors of TradingMarkets
will select the 5 best and most insightful (and sometimes humorous) excerpts
from all of the articles and blogs that have been published throughout the
entire day.
Here are today’s selections:
Dave Goodboy from:
Oil fever rises again, here’s why I’m a seller
“…The largest up-move
ever was witnessed yesterday in anticipation of the next potential
hurricane. This is one nervous market! This move set up a brilliant short
trade, here’s what I am going to do–short at 65.97. My short target of 62 or
under was approached last week and I am expecting another test of this level
soon…”
Click here for more…
Mike Kestler from:
How 2 stocks can yield multiple trading opportunities
“…I had my most
significant money winner when the stock broke a support level at 84. It had
traded down to 84 on 2 adjacent 15-minute bars and I had taken small losses
because I had been short both times and NKE rallied both times. When it came
back to the 84 number the 3rd time, OpenBook proved its worth as large offers
came into the stock and price fell for the next hour and a half. I traded back
and forth with a core position short until 82.50. Sometimes it is the second or
third mouse that gets the cheese!”
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Jack Rothstein from:
These 4 stocks look good no matter what the Fed does
“…Solid. That is all
you can say about this ripe golden delicious AAPL. It broke to new levels
yesterday and that prompted the need to take action. I recognize that the
advance in AAPL is mature. There is no question about that. The chart tells me
that the current advance is far from over; the price movement indicates higher
zones to come…”
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Austin Passamonte from his blog post:
Technology Blues
“…In today’s case, the reflex bounce past
initial drop also lifted into various layers of resistance. We caught the ES
short with deliberate ease, and just missed filling staged orders in the ER near
670.40 net.
At that very moment in time, my chart service feed went dead. Frozen, stone cold
dead. A quick boot of older build version on backup computer had price feeds
lively in a jiff, but not before the ER had blown away its short entry and begun
to nosedive in descent.
I was not happy: not at all…“
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Jes Black from:
If the Fed raises rates, get ready for a surprise move
“…If the Fed thinks it
can raise rates another time after this week we dare remind them that the
consumer represents 2/3 of the economy and is made of gingerbread. “ Oh dear!â€
the gingerbread boy said, “I’m quarter gone!” And then, “Oh, I’m half gone!”
And soon, “I’m three-quarters gone!” And at last, “I’m all gone!” and never
spoke again…”
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