Tuesday brings us right back to the same place on the journey, wondering if we're about to see a turn or just more upside. As mentioned often here, the big moves happen before the market even opens, and just take a look at my intraday chart on SPY and tell me how in to trade that chart with any semblance of sanity? Really and truly, to stay away from this tape unless you see an extremely high probability of a decent trade is about the smartest thing anyone can do at this point. But... some of us are more nimble than others and can and will find trades to capitalize on. Yes, it's tougher trading, but it can be done, so all is not lost. Other than that, I really have no pearls of wisdom to share at this point, nor charts that you haven't already studied yourself diligently looking for clues. We know these charts better than the back of our hands.
So with that, tomorrow's economic calendar includes: Challenger Job Report at 7.30 AM, Tim Geithner at 9:30, Petroleum Status at 10:30 and Beige Book at 2:00. Thursday finds our friend Ben testifying before the Senate Banking Committee.
Good trading into the afternoon and be careful.
Can you find a solid way to trade this chart?
This tape reminds me of Mike Rowe trying to sell a $35 cat bag.
The Road Less Traveled?
Tuesday brings us right back to the same place on the journey, wondering if we're about to see a turn or just more upside. As mentioned often here, the big moves happen before the market even opens, and just take a look at my intraday chart on SPY and tell me how in to trade that chart with any semblance of sanity? Really and truly, to stay away from this tape unless you see an extremely high probability of a decent trade is about the smartest thing anyone can do at this point. But... some of us are more nimble than others and can and will find trades to capitalize on. Yes, it's tougher trading, but it can be done, so all is not lost. Other than that, I really have no pearls of wisdom to share at this point, nor charts that you haven't already studied yourself diligently looking for clues. We know these charts better than the back of our hands.
So with that, tomorrow's economic calendar includes: Challenger Job Report at 7.30 AM, Tim Geithner at 9:30, Petroleum Status at 10:30 and Beige Book at 2:00. Thursday finds our friend Ben testifying before the Senate Banking Committee.
Good trading into the afternoon and be careful.
Can you find a solid way to trade this chart?
This tape reminds me of Mike Rowe trying to sell a $35 cat bag.
Disclaimer: This website may include stock and market analysis. Any opinions, ideas, views and statements expressed here are opinion only, subject to change without notice and for informational purposes only. Trading stocks carries a high degree of risk. It is possible that an investor may lose part or all of their investment. Accuracy and timeliness of any information is not guaranteed and should only be used as a starting point for doing independent additional research allowing the investors to come to his or her own opinion. Nothing on this blog is to be considered a buy, hold or sell recommendation. Any investments, trades and/or speculations made in light of the opinions, ideas, and/or forecasts expressed or implied herein are committed solely at your own risk, financial or otherwise. Results are dependent on market conditions, timing and trading style. This blog is not affiliated with Tom DeMark in any way and does not claim to represent his estate or personal views. Any references to Tom DeMark or any of his indicators are for educational use only. Comments posted on Disqus Threads are not moderated and are not representative of opinions of authors of this site.
Translation: You are responsible for your own investment decisions.
Not anyone else.
YOU.
Position disclaimer: Authors might OR might not have position/interest in securities mentioned on this site!
If you still don't get it - here it is in plain English by Special Keirsten
For newbies and lurkers out there: You will read many, many various trading observations,opinions and calls on this blog, from bullish to bearish- that’s why we’re different here. You will often see us challenge each other- and often. It is YOUR responsibility to understand and/or ask questions if you’re confused or want help/further opinion… we can’t read your mind. This is a place of learning and sharing, but the trading is YOUR responsibility alone, not ours. Rule #1- never take a trade that is not based on your own T/A and choice. Lead yourself, do not follow. I can’t emphasize that enough. Read the disclaimer at the bottom of this blog site completely, if you haven’t already. I have seen plenty of “gurus” with loads of happy followers take their trades blindly with both good AND bad results - don’t let yourself be one of those people
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Correspondents' emails are strictly confidential. The third-party advertising placed by ad networks may collect information for ad targeting or store cookies. Links for commercial sites are paid advertisements. Blog links on the site are posted at my discretion, without compensation of any kind.
Disclaimer: This website may include stock and market analysis. Any opinions, ideas, views and statements expressed here are opinion only, subject to change without notice and for informational purposes only. Trading stocks carries a high degree of risk. It is possible that an investor may lose part or all of their investment. Accuracy and timeliness of any information is not guaranteed and should only be used as a starting point for doing independent additional research allowing the investors to come to his or her own opinion. Nothing on this blog is to be considered a buy, hold or sell recommendation. Any investments, trades and/or speculations made in light of the opinions, ideas, and/or forecasts expressed or implied herein are committed solely at your own risk, financial or otherwise. Results are dependent on market conditions, timing and trading style. This blog is not affiliated with Tom DeMark in any way and does not claim to represent his estate or personal views. Any references to Tom DeMark or any of his indicators are for educational use only. Comments posted on Disqus Threads are not moderated and are not representative of opinions of authors of this site.
Translation: You are responsible for your own investment decisions. Not anyone else. YOU.
Position disclaimer: Authors might OR might not have position/interest in securities mentioned on this site!
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