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Mike added a blog post28 minutes ago

Things I'm looking at for the week of July 6th

As a few folks have mentioned the S & P has formed a Head and Shoulders. Volume between the left shoulder and right is quite a bit lower and the index is right on the trend line between the RS and LS. I'll be watching to see if it breaks below to ...

Edward Burke added 2 videos3 hours ago

Esra Addel, Ole Smithy, Ryan and 7 more joined ChartWatchers5 hours ago

Ole Smithy joined Craig's group9 hours ago

Swing Traders

A group for swing traders.

George Lebecki replied to George Lebecki's discussion 'Candlestick shadows'11 hours ago

Thanks, Craig. The chart makes your answer to my question very clear. --george

Craig replied to George Lebecki's discussion 'Candlestick shadows'12 hours ago

Yes, kind of like this...

George Lebecki replied to George Lebecki's discussion 'Candlestick shadows'13 hours ago

Thanks, Craig. I am learning to, trying to daytrade GG on a 5 minute chart. Fairly often a sideways line of candles appears - from 3 to 9 candles in a row. I thought the shadow might hold a clue. I will pay attention to higher lows and the closes....

Craig replied to George Lebecki's discussion 'Candlestick shadows'14 hours ago

If the lower shadows are consistently higher, then I would bet on an upward breakout. But, I'm not sure that is enough information to trade one. Instead of looking at the shadows, I would pay more attention to the closes. If a stock is trading sid...

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Education 101: How To Find Best Resistance Point

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AXP RESISTANCE LEVEL 26.00-26.50

by Bryan Leighton

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Candlestick shadows 4 Replies

Do candlestick shadows/wicks and their position relative to one another (higher/lower) offer any clue regarding direction of a breakout during a sideways move?

Started by George Lebecki in ChartWatchers.com. Last reply by George Lebecki 11 hours ago.

Long INTC

Started by swing2freedom in Trading Stocks 1 day ago.

Market Direction (S&P) 187 Replies

I would like to start a discussion on market direction if anyone is interested in contributing and keeping it going? This may help people with market timing e.g. long or short? I will start: The...

Tagged: vix, timing, s&p

Started by Chilling in Market Indices. Last reply by Mike Jul 2.

Short UPS

Tagged: UPS, Short

Started by swing2freedom in Trading Stocks Jul 2.

Ultra ETF's 3 Replies

I just thought I would share something that I have just found out about Ultra ETF's, which attempt to double daily moves of various indexes. The way they are calculated actually makes them unsuit...

Started by KTF in Trading Stocks. Last reply by ccwells Jul 2.

Blog Posts

Things I'm looking at for the week of July 6th

Happy trading!

Mike

Posted by Mike on July 6, 2009 at 12:19am

gOOd read!!

Response from:
Gregory Knox, Pres.
Knox Machinery Company
Franklin , Ohio

Gentlemen:

In response to your request to contact legislators and ask for a bailout for the Big Three automakers please consider the following, and please pass my thoughts on to Troy Clarke, President of General Motors North America.
Politicians and Management of the Big 3 are both infected with the same entitlement mentality that has spread like cancerous germs in UAW halls for the last countless decades, and whose plag… Continue

Posted by geo777 on July 2, 2009 at 2:36pm — 1 Comment

Economic Calendar - This Week: June 29 - July 3, 2009

This Week: June 29 - July 3, 2009
Monday, June 29, 2009
10:30 a.m. June Dallas Fed Mfg Production Index: Previous: -12.

Tuesday, June 30, 2009
7:45 a.m. ICSC Chain Store Sales Index For June 27
8:55 a.m. Redbook Retail Sales Index For June 27
9:00 a.m. Apr S&P/Case-Shiller Home Price Index: Previous: -18.7%.
9:45 a.m. June Chicago PMI: Previous: 34.9.
10:00 a.m. June Conference Board Consumer Confidence: Previous: 54.9.
5:00 p.m. ABC/Wash Post Consumer Conf For June 27

Wednesday, July 1, 2… Continue

Posted by Mike on June 28, 2009 at 11:37pm

Took a short position on WRC

I was watching WRC on Friday and late in the afternoon took a short position on the stock. The weekly MACD-Hist indicates a down trend for the stock and the daily is overbought while rising on lower volume into the previous trend line ( resistance ). I've a fairly tight stop on the other side of the trend line so if it breaks on the upside I'll won't be out too much.

Entered trade on 6-26 at $33.24 with a stop at $34.10. Initial profit target is $31.

… Continue

Posted by Mike on June 28, 2009 at 10:00pm — 2 Comments

Take Market Timing to the Extreme

I been experimenting with Williams %R (3) and how it relates to market timing and I've found out that waiting for extreme levels with this indicator often improves the timing of trades. I got this idea from reading some of Larry Connors work. Take a look at the following chart...

… Continue

Posted by Craig on June 28, 2009 at 9:55am — 1 Comment