There’s really not much to be said about today. The Nasdaq and S&P were basically unchanged while IBM helped the Dow to get to within 11 points of 13,000 before falling back. Hopefully the Dow will go ahead and tag 13,000 so we can move on (get it over with already!). It feels like people are just sitting on their hands waiting for that level to be hit. Here’s the Dow chart showing that it’s been almost straight up for the last two weeks. Surely it can’t keep up this pace much longer… can it?
Charts of the S&P and Nasdaq are below:
Trend Table
No changes.
| Trend | Nasdaq | S&P 500 | Russell 2000 |
| Primary | Up | Up | Up |
| Intermediate | Up | Up | Up |
| Short-term | Up | Up | Up |
(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
Lat Indicates a Lateral trend
Hi Mike,
Just a question, how do you up your stoploss to a breakeven point, and not get stopped out quickly by the MM’s. . Meaning, if you enter a position at 16.12, it goes up to 16.25, and thus you adjust your stoploss to 16.12? That is like taking candy from a baby, right?
Still new to this game like I said. . In terms of the onsite training. . Still interested but if you aren’t, that’s fine. Would it be a better idea of driving into Atlanta and seeing your setup?
Thanks. .Love your site. . Do you ever trade on margin?
Kevin,
Getting stops picked off is just part of the game. Answers to your questions about how I move my stops and how I use margin are all in the archives. Perhaps you should read the key posts and or look at the subject index.