Posted by 6 June 2007

June 6, 2007 Stock Market Recap

We got a decent sized selloff today but it could have been worse. The bulk of the losses came early in the session and then it was a tug-of-war for the rest of the day. But the sellers were able to do a bit of technical damage by breaking the S&P’s March trendline. It’s continuing [...]

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Posted by 25 April 2007

A ‘Monster’ Capitulation Daytrade

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 called up [...]

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Posted by 12 April 2007

Anticipation Versus Reaction, Revisited

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 [...]

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Posted by 9 April 2007

STZ: Bull Flag Separating Two Measured Up Legs

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 first thirty [...]

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Posted by 3 April 2007

ICEing on the Capitulation Cake

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 below charts [...]

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