TradingMarkets Top 5 Of The Day
Welcome to TradingMarkets.com Top 5 of the Day!
In this nightly feature, the editors of
TradingMarkets 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:
Chris Curran from:
Before your next trade, look at this weekly S&P chart
“…While
the market sold-off sharply on the Fed news late Tuesday and Wednesday, by
Thursday all eyes had turned to Rita. When Rita was downgraded to a Category 4
on Thursday and then a Category 3 on Friday, the mood of market players seemed
to go from panic to complacency. Because of this complacency, there is still
risk of a sell-off this week should news indicate that the storm did inflict
serious damage. Throw into the mix a clueless FOMC that is raising rates into a
slowing economy and real estate market, and I just don’t think that the equities
markets are out of the woods yet as far as further downside risks go…”
Click here for more…
Gary Kaltbaum from:
If the market hits new highs, here’s what I expect next…
“…Even if the major
indices move to new highs (and I believe odds do not favor that this second)
this market is classic late stage action. Stay on your toes…”
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Rob Hanna from:
Nail the next big trend move! Use this strategy…
“…We’ve been
consolidating for a long time (since January of 2004), and because of this, many
intermediate-term traders have learned that they are being rewarded by taking
quick profits rather than trying to stick with extended trends.
When the next big move
comes as I anticipate, trend traders would be wise to follow the advice of the
turtles. Forego the quick profits and hold on for the big gains…”
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Ken Levey from:
How to turn a big gain into an even bigger one
“…As
a market maker, on occasion after making some nice sales on a long position I
would go out and test the offerings to see how right my position was. If the
stock moves even higher do it again. The stock may be ready to really rip. It
was a way of turning an ok profit into a much bigger one when the odds are in
your favor. Why just give away your position at inferior prices. If it’s really
easy to sell stock, don’t always do it. Make some sales and test offerings to
force the buyers into paying higher prices…”
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Dave Goodboy from:
Did you short oil like me? If so, here’s where to lock in gains
“…Oh yeahhhh! Oil is
continuing in my projected sell off toward the major support level of 62.
Anyone late to the trend game of buying new highs is getting slammed so far.
Rita has fizzled so far regarding projected damage to the oil infrastructure,
supplies may be flooding the market shortly and all is looking up for a trip to
the 62 level soon. We will see!”
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