Trader Mike

Michelle B submits:
On Tuesday, April 24, approaching 2 PM, the time of the day that I regard as the Period Of Treachery—fondly referred to as POT—I noted MNST screaming red on the low ticker. I checked to see if there was news to explain the decline, and there was none. I quickly […]

Michelle B submits:
Peter has queried regarding the merits of anticipating versus confirming/reacting when entering trades. Here is an excerpt from an earlier post of mine:
Also note that an additional lot could have been purchased via an automatic buy stop once the resistance at 21 was cleared. Since the price action from the open was […]

Michelle B submits:
STZ, on Thursday, April 5, released estimate-beating earnings. I noticed STZ during my premarket news reading, and once the market opened, via the top NYSE gainers scan and its notable movement on the high ticker. It gapped up, filled in the gap, and then made new intra highs within the […]

Michelle B submits:
As my posts show, I am a died-in-the-wool discretionary trader. I would not trade if I could not do it in a discretionary manner. Guided by chart patterns made by volume and price, I have noted in my years of trading that traders have different visual abilities. Frustration at times have […]

Michelle B submits:
LP commented concerning though he was aware ICE was moving down on strong volume, he did not have an edge in trading ICE as a capitulation play on Monday, April 2. ICE is noteworthy for several reasons. Firstly, it capitulated from a reverse head and shoulders bottom.
NOTE: Volume on […]

Michelle B submits:
LP, in a recent comment to this blog entry, expressed interest in understanding trades based on capitulation. Capitulation means that there are no more sellers for the moment, and the stock price will rebound sharply. The most important aspect is not to confuse capitulation with the low-grade drip, drip of continuing […]

Michelle B submits:
Having read a few comments at trading blogs—OK, I have read zillions—I have encountered more often than not, a frenzied, harried, stressful approach to time when one is trading. Some feel the demonic pressure crushing them as soon as the market opens; others feel enervated by its demands needling and pinpricking them […]

Michelle B submits:
Trading the second leg of two measured up legs separated by a bull flag is one my favorite trades, especially because the trade usually lasts only 30 to 60 minutes. In most cases, I will at least partially anticipate the breakout allowing me to keep a very tight stop loss.

What is […]

Michelle B submits:
Do the Q’s have a hefty oxygen tank of a striving economy on its back as it claws its way up a tough path? The monthly chart for the QQQQ show the rarefied air suspended over it at present prices.

Tags: QQQQ, Technical Analysis

Michelle B submits:
Reverend Shark aptly puts the sepia-tinted view forth, “…and if there weren’t some potentially serious problems out there — particularly from the housing market and the sub-prime mess — then the Fed certainly would not be setting things up for a rate cut.”
The market, however, will do what it will do, […]