Tag archive for ‘reversals’
Feeding ground
“Amity Island had everything. Clear skies. Gentle surf. Warm water. People flocked there every summer. It was the perfect feeding ground…”
At 11:30 I suggested to colleagues to take their short profits off before noon today. It could have gone to any day low, but I felt the weekly shorts should capture their profits early after such [...]
Summer Solstice
Last Friday was the summer solstice, and there were approximately 30,000 party animals celebrating the event in Stonhenge.
Imperceptibly, but without dispute, we know the longest day of sunlight has already occurred for 2008. We are not ready to plunge into darkness; summer has just begun.
The seed for that season has just been planted.
I like to [...]
Clear vision
Hindsight is a wonderful tool to help explain technical analysis.
With it, we all can predict within a minute and a tic the exact times of turning points.
The moving averages can be explained, the pivots are all logical, and we can clearly see why something did what it did.
Making the call for directional trading is sexy [...]
The Banana peel trade
The banana peel trade occurs more often in schizophrenic markets.
I guess we could say that means all the time.
There is a definite timing pattern I have noticed lately.
The technique currently being used is the alternating squeeze on both sides.
At least the market is fair; it messes with everyone as it regresses to the mean.
The early shorts were squeezed [...]
Unpredictable is predictable
The premarket ramp in low volume was predictable. Being a technical trader, I never try to intrepret the results of the reports in the news; only the market reaction to it.
The unpredictable (to mom and pop) was the deeper pullback. They were looking to jump in early on the pullback, because they were convinced they [...]
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