Thoughts and Trading Ideas for the Weekend
With all the market volatility just lately, traders seem to be rearranging the deck chairs for something big.
Have you noticed lately how all the market action seems to to take place in last 30 minutes of trading? Well there's a reason for that, and here it is.
When I was trading on the floors of the Chicago Mercantile Exchange almost every floor trader knew how the day traders were positioned. If the day traders were short and the market wasn't going down like they had expected, the pit traders instinctively knew that they would have to cover before the end of the day.
There's an old adage on Wall Street that bears make the best bulls, and bulls make the best bears. What this means is, if you are short a market and you are a day trader you have to buy back your position before the close, win, lose or draw. Many day traders wait to the very end of the day, hoping that they are going to be right. If they are wrong they are forced to scramble to cover their positions in the closing minutes before the final bell.
It's all part of the ebb and flow of the marketplace.
Speaking of the marketplace ...
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APPLE, GOOGLE, RESEARCH IN MOTION
Here's how we see these three Titan's of Tech.
Watch our Apple analysis video (symbol AAPL) Chart
Watch our Google analysis video (symbol GOOG) Chart
Watch our Research in Motion analysis video (symbol RIMM) Chart
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WHEN TO FIB AND NOT TO FIB
See what we are talking about right here.
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Shocker ... the FED just said that they may not cut rates because of inflation worries. Hallelujah, they get it, they finally get it. I guess chairman Bernanke finally stopped in at a Safeway supermarket and realized that the cost of food for all Americans has jumped dramatically this year. Or maybe, he actually went to a gas station and filled his tank and said to himself, "Oh, Oh, these gas prices are high"
Maybe this energy jump is for real, Mr. Bernanke.
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LEARN HOW TO TRADE A DOWNWARD TRENDING MARKET
In this video lesson, we give traders three compelling pieces of information about how to trade a downward trending market. Watch this streaming video lesson to learn about shorting stocks.
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A LIGHT HEARTED LOOK AT THE MARKETS...
This will put a smile on your face
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SOMETHING TO REMEMBER
"They slide faster than they glide"
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WHICH WAY FOR THE MARKETS NOW?
Use this really cool analysis tool and get instant answers in plain English on any market. There is no cost. Watch it here.
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THE VOTES ARE IN ON $100 CRUDE OIL
Here's the question "Will Crude Oil Trade at $100 before the end of December?" As of this writing 488 votes are in. See the results here as to how traders are looking at the new black gold. No registration required. Vote and find the results on the upper right hand side of this page.
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INO QUOTED IN THE NEWS THIS WEEK
"If we see the market take the euro below $1.45, then the euro will drift to the $1.43-to-$1.42 range," said Adam Hewison, president of INO.com in Shady Side, Maryland. "Overall, the market looks like it's overdone on dollar selling."
"Even if demand here were to fall 5 percent, we would still see global growth because of what's happening in India and China," said Adam Hewison, president of INO.com, an Annapolis, Maryland-based Web site that provides technical analysis and financial news.
Reuters and Bloomberg hold the repective trade marks on the images shown on this blog.
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ON THE TRADERS BLOG THIS WEEK
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The Jingling This Holiday Season Won't Be Extra Change In Your Pockets!
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MARKET THOUGHTS FOR TUESDAY
Sub-Prime, submarines, and the fear of the unknown
Why E-Trade tanked.
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"The Secrets Of Professional Floor Traders" "Trending with Moving Averages"
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IS THE BULL RUN OVER FOR GOOGLE?
After reaching a record high of $747.24 on an intraday basis on November 11th Google proved that gravity does indeed exist as its stock plunged over $120 in just 4 trading days!!
Find out what's going on in Google right now.
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FREE ONLINE TRADING VIDEOS YOU CAN BENEFIT FROM TODAY
Here's a small sample of what is coming up on INO TV
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ONE MARKET, ONE WORLD FIND IT ALL ON INO.COM
Don't miss any of the overnight action from around the world on INO.com.
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WHICH WAY FOR THE MARKETS NOW?
Use this really cool analysis tool and get instant answers in plain English on any market. There is no cost.
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PRO'S DON'T FIGHT THE TAPE
The markets will tell us when they are ready to go higher.
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This is Adam Hewison,
have a great weekend and a profitable new trading week.
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