Day Trading – The Bullz And Bearz
Profitable Trading In Any Market – Stocks Options FOREX
Nice Knowing You Sideways May – We Still Made Money Though
May 29th, 2009
For all intensive purposes May was FLAT and BORING. Honestly I think you could have flipped a coin each day to determine the direction and you probably would have made money. Still, the sideways movement was GREAT for the OPTION WRITERS. The calls and puts we sold short made us A LOT of money this month even when the markets moved sideways. Remember that trading is much much more than just picking a direction. It’s about positioning yourself for both sides and being versatile enough to make quick decisions. It’s about learning the consistent and back-tested strategies that make money for you and your family. It’s about trading and investing the way most people don’t.
The fact is that most Americans are broke – honest but true. Still, people think they can make money “investing” using the “buy and hold” or the “penny stock” strategies. Well, if most Americans are doing this, WHY AREN’T THEY RICH???? It’s because these strategies DON’T WORK!!!! Try something different, proven, back-tested and you might just see the light at the end of the tunnel. This is why I started the Option Writers. You will not make a fortune overnight, but you WILL make CONSISTENT income each month – that I promise you. The LAST DATE for the 2 Weeks FREE TRAIL is tomorrow! Enjoy the video below and let me know your thoughts on the above comments.
GDP Worse Than Expected, Treasuries Fall, Yet Markets Flat
May 29th, 2009
Afternoon all. It’s been another one of those flat days. We should all throw a going away party for the month of May as it’s been a “go nowhere” month. Depending on when you are looking at the charts the market could be up or down. GDP came in worse than expected this morning and treasuries still show very large signs of weakness which has sent the dollar spiralling downward. All in all, it should make for a bit of a move lower – but that has not been the case yet at least.
For most this is probably just agonizing to say the least. I personally am finding that it’s giving me more time to update positions and build new watch lists of future trades – always a good thing. If anything, all traders out there should be positioning and looking for new ideas and opportunities. In addition, I can’t be that mad at May because it’s been EXTREMELY profitable for the Option Writers Report. I’m glad that Members and I have a couple longs in our portfolio that are doing great today. Here is a chart of the madness that has been the month of MAY.
This Is The World We Trade In – Adding Positions On Both Sides
May 28th, 2009
GM is going to file for bankruptcy protection – it’s official now I guess. But, let’s be honest, we all saw this coming. I do feel for those workers out there, but I think the end result will be best. The last week has been nothing but ups and downs one right after another. Just look at the last 10 days or so for the S&P below and you will see what I mean. This has been our crazy world for the last week but not for long…something is going to make this market move soon!
However, I am adding both short and long positions. I have already sent out the trades to members. Honestly, I couldn’t have picked a better day to enter them!
We Need To Break Below 880 Bearz – Point Blank
May 28th, 2009
Good morning all! It’s still very early in the day but all pre-morning indicators are again pointing to a flat day in the equity markets. As a reminder, the New Option Writers report will be going out in just 3 days. It’s been highly successful already even with all the wild swings in the market these past two weeks – so try it out for 2 weeks.
Here is the updated S&P chart with support and resistance targets. As I have mentioned numerous times here, the S&P needs to close below 880 for things to get rockin on the bearz side. That’s it…point blank. So, we still have a fairly significant drop even to that level and there is a lot of data coming out just in the next two days – jobless claims and GDP stuff.
As I mentioned last night, I will be adding a couple shorts and some selective longs to the portfolio today – THAT’s RIGHT, IT’s TODAY! There are just too many great opportunities out there that cannot get passed up. Believe me when I say that the people who are involved – members – will make a ton of money over the next couple of weeks and months. Besides, you can’t make money trading IF YOU DON’T TRADE. Here is just ONE of these shorts.
Short FOREX Trading Idea – AUD/USD
May 27th, 2009
Great day for the markets turning around with a complete 180 of yesterday’s rally. We still need to break 880 and the S&P 500 to get the blood really running in the streets again. Regardless, as members already know, we will be adding more short trades tomorrow in addition to some longs at the end of the week. This would be a great time – again, a GREAT TIME – to sign up for a membership and get ahead of these trades. But, for most of you out there, you will probably get too scare and miss out. Tough and straight forward but it’s the truth…
Here is the short FOREX trade that I like right now. The AUD/USD is hitting major Fib resistance. And judging by how responsive it has been in the past, I’d say it’s headed lower here very soon!
May This Be The Spark We Needed? Late Day Sell Off Started
May 27th, 2009
In just the last 30 mins or so the markets have sold off considerably. Across the board it looks like a free fall right now. Of course we still have some time before the close, but I think the intermediate highs are in for the rest of the week. I mentioned before that there was major resistance at 910 and as of right now, it seems to be holding strong. Take a look at this chart of the SPX intra-day.
Updating Stop Orders Ahead Of All The Economic News
May 27th, 2009
Good morning all! First, here is the Trading Video from last night as well as the Member’s Only Portfolio Video in case you missed them. It’s still early here, but pre-market futures are trading flat again – mainly as most people are waiting for the housing data to come out at 10am. Regardless of whether its good or bad, the expectations in the numbers are what is going to be most important.
As I looked through a bunch of charts last night, I honestly couldn’t help to see that there was roughly a 70/30 split between great looking shorts and good looking longs. Some stocks are clearly still WAY over-bought, while others have had a meaningful correction to make them look more and more attractive. As I mentioned to Members, I am fairly positive that by the end of this week or very early next week I will be adding some of the better LONG positions to our portfolio. This would also be a great chance for new people to enter in here. As it stands now however, all the short term indicators are showing more bets on more downside here – so that’s where we will stay positioned for now. We have updated and tighted up most if not all of our stops on our short positions to lock in very good – not great – gains.
Below are two very cool looking charts I found and wanted to share. The first is FCL. It’s had a very clean breakout of the consolidation around $15 back in early May. Since however, it’s hit a major resistance line around $30. I see a fall back to $20 where support will be stronger.
The next one is HOC. This stock has followed this HUGE downward trendline for the better part of 2 years! Talk about trading the trend here. This has to make at least one more Higher Low if it every wants to break above the trendline in black. Interesting huh?
Okay, and finally the updated S&P 500 intra-day support and resistance number for you all. I will be watching the 921 level like a hawk today for a reversal target and you should too. These levels are very strong and I would use them to your advantage for entering you trades.
Stocks Higher By 2% – We Find Ourselves Hitting Resistance
May 26th, 2009
QUICK NOTE: Member’s Only Video going out tonight following the close today!
Shorts are taking a nice little bath today and giving back some of our hard earned money last week. There’s no doubt that people are trying as hard as they can to look ahead – 6 months to a year – and “hope” things are going to be better than they are now. But, the reality is that unemployment is still extremely high, housing prices are falling, and consumer spending and income are dropping. Of course I am not a believer in fundamental trading as a basis, but we have to recognize facts as facts. As I have said in the past and will continue to say over and over; if people do not have a job they don’t make money, which they cannot spend, which will NOT create economic growth. Simple as that folks!
Now, the markets have reached a pretty good resistance level today following the big pop higher. We are still in a two week down trend as long as we keep the levels where they are right now. To me, if the indexes do not push above the recent highs, then this is nothing more than another retracement back to resistance. Let’s see what the rest of the day will bring.
Markets Rally On Consumer Confidence – Hold On Tight
May 26th, 2009
The markets are rallying this morning following consumer confidence numbers. So basically everyone is “expecting” things to get better but they “aren’t just yet.” Here are the updated S&P 500 levels to watch for today’s market movement. I’ll be back later on with a mid-day post of some sort. Happy trading all!
Make Sure To Thank All Our Veterans This Weekend!
May 23rd, 2009
Here is the New Trading Video for ya’ll. As a reminder, the markets will be closed on Monday in observance of Memorial Day. Additionally, the Option Writers Report will be going out tomorrow. The last two weeks have been extremely profitable for Option Writers as many of you have already experienced. Saturday is the last day to sign up for the 2 Week Free Trial and still get this weekend’s report.
Onto the most important issue of the weekend. While I have never served in the Armed Forces, I have many friends and family who have – some who have died. As such, I encourage everyone to take time this weekend to thank every Veteran you can and remember those we lost. I mean this from the bottom of my heart when I say, “Thank You for your Service!” We live is the best country and we should NEVER take this for granted. Enjoy the video and your weekend!
Long Memorial Day Weekend Ahead – Markets Open Flat
May 22nd, 2009
Just a quick morning post. Here’s a link to the TRADING VIDEO from last night I suggest everyone take the time to watch. It was very educational. I have a lot of other things going on today but I will be back and forth. The markets have opened up really flat this morning. Typically, the day before long weekends like this is optimistic, so we might see a slightly up day here but nothing major. If we start to head down though, we NEED to break below 880 on the S&P 500. That level is so critical I can’t even begin to explain it to you all. Here are a couple short ideas to think about.
FITB
BIDU
COO
Markets Sell Off Big Today – Hitting My 880 Target
May 21st, 2009
Well, the markets sure did put on a great show for us today. They sold off wonderfully this afternoon right down to my 880 targeted support level on the S&P 500. Below is the intra-day chart from earlier today with the level in GREEN I talked about on this mornings post. While this picture isn’t updated, the market did bounce right off the 880 level. It wasn’t anywhere near and important reversal. But it is just another example of how technical analysis can help spot these moves before they even happen.
Regardless, Member’s Portfolios are IN THE MONEY big time today. Across the board our short are off more than 2-3% with some off more than 9%! Holding these shorts has been very profitable over the last couple of weeks. I honestly feel sorry for all those people who gave in earlier this week and we long – which I highly advised against. Clearly, most if not all of them are getting BURNED right now.
I have a Church function early this evening (all you crazy Catholics know what I mean), but I will be back tonight with another great Trading Video <–wait a second, all the Trading Videos are great.
FED Says US Markets Still Not Stable – Huh, You Think!
May 21st, 2009
Did anyone honestly believe that stocks could continue up week after week. Come on, let’s start getting real here. Again, the charts have been screaming this for weeks to come. Hopefully the correction will be just as significant as the rally up. Futures are still low as of this writing but we have some critical levels to go through if we want to keep this trend bearz. Below is an intra-day look at the S&P for May. The level in GREEN at 880 is one that we really need to break sooner than later. Don’t be surprised if it acts as some short term support before a break lower.
Looking at the daily charts, you can see that we are moving very slowly away from the underneath of the black trend line. Naturally, the area between 820 and 850 where the next major Fib level is located would be a great area for this market to bounce from. Thus, as we start getting down there, we all should be slowly adding LONG – yes I said it – to our portfolio. But, again, not just yet you ultra-bullz out there – WAIT a week or so.
OIH is looking offley toppy! Notice the beautiful retracement of the major support/resistance line. An eventual fall back down to at least $90 seems like a no-brainer at this point.
FOREX Markets Moving Today – Dollar Breakout
May 20th, 2009
The equity markets have shifted into negative territory despite some great news for Oil supplies. Holding through the close will be key however. Again, a close lower would build a strong case for a sell off into the end of the week.
In the FOREX markets – which I haven’t really talked about much lately – things are starting to get interesting. The USD is breaking out across the board. In particular, the GBP/USD is really looking bullish after forming a HUGE base. Today’s breakout could be the beginning of a great Cup and Handle pattern which I will be taking part of later on after a retracement of the breakout occurs. Still, the big move seems to be in all currency pairs.
Mid-Day We Are Off The Highs – Another Shooting Start Forming?
May 20th, 2009
The markets are off their early morning highs. Looks like there could possibly be another shooting star pattern forming under resistance which is a great sign for us bearz. If this holds throughout the close – especially if we close lower again today – then it would be fairly safe to say that we are headed lower into the end of the week. Still, it’s lunch time on Wall St. and the activity won’t pick up until this afternoon.
I have to say that I have been reading a lot of other blogs out there to get a sense of the sentiment and I have been very surprised. Basically what I am finding is that most traders are “giving in” to the bullz. Many have said that they are going long simply because they are not patient enough to short or wait for an appropriate pull back/correction. All in all this exactly what I am talking about when I tell suggest not letting your “greedy” emotions come into play. Yes, in general the markets are moving basically sideways here over the last week or so, but it does not warrant going long “just for the hell of it.” You can be certain that letting emotions get the best of you is a ONE WAY street to going broke as a trader…
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Today's Live Market Quotes & Charts
| DJIA | 10320.10 | ||||
| NASDAQ | 2200.01 | ||||
| S&P 500 | 1090.10 | ||||
| ^TNX | 2.63 | ||||
| ^XAU | 186.41 | ||||
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| IWM | 63.20 | ||||
| SKF | 20.89 | ||||
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| FAZ | 14.50 | ||||
| UUP | 23.91 | ||||
| FXP | 36.15 | ||||
| USO | 33.39 | ||||
| RWM | 40.81 | ||||
| TBT | 31.96 |
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