Day Trading – The Bullz And Bearz

Markets Digest Stimulus Plan On An Unlucky Friday The 13th

February 13th, 2009

Good morning! I just have to preface this post by saying it would be extremely ironic if the markets sold off again hard on a day like today. Pre-market futures are pointing to a fairly flat open on the street as another round of news hits the wires from companies like Rio Tinto, Toyota, Prudential, etc. Given the rally we had coming off of yesterday’s lows, I am expecting a rally here today of course. But as a technical note, hammer formations – like the one we got yesterday on the daily charts – are likely to retest the lows. What this means is that since the lower shadow of the formation was so long, it’s likely that we could see another round of selling sometime in the next week or so to really test that support level. If we hold out yet again, then it’s time to get bullish and start buying up broken down securities. On a commodities note, I think gold is starting to show signs of a short term retracement.

S&P Stuck Between 800 and 875

February 12th, 2009

What a day huh? If you checked the markets this morning you probably thought we were in for another huge sell-off, and really that’s what I was expecting. But, here we are at the end of the day and the S&P ended in positive territory. I will admit that my portfolio was very much in the green this morning but ended up only slight up thanks to my short/long ratio. I moved down some stops this morning to lock in profits and am still confident in the short term future for my positions. I know I sound like a broken record, but let’s face it, we are still in a tight trading range for the markets. We need to breakout – either up or down – to get a clearer picture. Please check out the trading video below with some great short ideas!

Bullz Fight Their Way Back

February 12th, 2009

Pretty amazing showing today by the bullz. To be honest I really didn’t expect to see them continue and push all the way through the close of the trading day. Considering we put in a very nice looking hammer pattern on the indexes at a good looking area of support, it’s time to re-think our trading strategy and update our stops. Still, my shorts did very well today and what longs are left did okay. I’ll be back later tonight with a trading video.

Welcome To The New Bullz And Bearz Website!

February 12th, 2009

Well, after about a month of development and some long nights up writing code – which was a first for me – the new site is finally up and running! I really am excited for everything I added here and I look forward to any comments you have. Please feel free to take a look around. As you will find, some of the pages are still in process – i.e. the coaching, affiliate, and a links page – but should be up sooner than later. As a note, I will start to slowly move over all the old posts here (which will take some time), so that you can still have access to them in the archives section. What’s great about this site is that I can put a lot more information here for you all than I could on the other site, which I hope you all enjoy. And, I can still put up the famous trading videos!

Let’s get right into the first real post>>>Pre-market futures are pointing to a lower open this morning which really isn’t a surprise to anyone. I guess everyone was expecting us to shoot higher after the stimulus bill got passed, but as we know, the market already prices in those expectations. Below, I have added the S&P support and resistance targets as usual. I haven’t changed my levels because we really didn’t go anywhere yesterday as far as the markets were concerned. Still, keep this in your toolbox for today. Let’s see how far this leg will go down…good thing members and I exited our longs on Monday and still have a bunch of shorts to profit on. Happy Trading!

Welcome to the new website!

February 11th, 2009

Good morning everyone! Welcome to the new Bullz and Bearz Website! I hope you enjoy all the added features! Please take a look around and let me know what you think!

Thanks!