Well my plan was to do a gap fade inthe pre-market this morning but I woke up about 5 minutes too late. I turned on the TV just after 8:30 and saw the futures ramping on the surprise rate cut. I thought that ruined my plans and I was gonna just sit & watch. Now [...]
Posted by 21 January 2008
Live to Trade Another Day
Posted by 17 January 2008
Watchlist for January 17, 2008
I’m gonna do my normal thing and take off expiration Thursday & Friday. If you’re trading today don’t forget that Big Ben is speaking at 10 and that the Philly Fed hits at noon. On Today’s Calendar: 10:30 — Nat Gas Inventories 12:00 — Philadelphia Fed More Calendars: U.S. Earnings | Conf. Calls | Surprises [...]
Posted by 16 January 2008
January 16, 2008 Stock Market Recap
There are clearly a lot of people watching the August lows on the S&P and Nasdaq. Those indices see-sawed across those levels today, ending just above their August support levels. I believe that those August lows came on all-time high volume and today got real close to matching those volume levels. In August the indices [...]
Posted by 16 January 2008
Watchlist for January 16, 2008
The market’s holding up better than I thought it would post-Intel but it’s still set for a gap down. As you know, I’m watching the August lows closely to see if they hold or break and then turn into resistance. The next few days could be trickier than normal. Not only is options expiration coming [...]