maybe one more decline to really set up this pattern. 780-770 level needs to be watched closely.
Tuesday, March 31, 2009
SPX Falling Wedge Still Holding
maybe one more decline to really set up this pattern. 780-770 level needs to be watched closely.
Monday, March 30, 2009
Sunday, March 29, 2009
THE MOST CLASSY THING I HAVE EVER SEEN
Hi Stewie,
We'd like to welcome you to the newsletter service world -- it's a good one and you'll find the experience of helping starting traders very gratifying. One of our subscribers is giving your service a free trial and is impressed so far by your program. There are a lot of newsletter services out there such as ours but you fill a great niche with your real-time alerts. We're confident that you'll be successful.
If you need any advice re PayPal (which can be nutty sometimes) or anything else on getting started send us a line.
Best of luck, HCPG
http://www.highchartpatterns.com/
We'd like to welcome you to the newsletter service world -- it's a good one and you'll find the experience of helping starting traders very gratifying. One of our subscribers is giving your service a free trial and is impressed so far by your program. There are a lot of newsletter services out there such as ours but you fill a great niche with your real-time alerts. We're confident that you'll be successful.
If you need any advice re PayPal (which can be nutty sometimes) or anything else on getting started send us a line.
Best of luck, HCPG
http://www.highchartpatterns.com/
Thursday, March 26, 2009
Roubini Says Stocks Will Drop as Banks Go ‘Belly Up’
By Michael Patterson and Maithreyi Seetharaman
March 26 (Bloomberg) -- U.S. stocks will fall and the government will nationalize more banks as the economy contracts through the end of 2009, said Nouriel Roubini, the New York University professor who predicted last year’s economic crisis.
“The stock market is a bit ahead of the real macroeconomic and financial news,” Roubini, a professor at NYU’s Stern School of Business and the chairman of consulting firm Roubini Global Economics, said in an interview with Bloomberg Television in London today. “We’ll have some major banks going belly up that will need to be taken over.”
The global equity rebound in March that sent the Standard & Poor’s 500 Index to its best monthly advance in 17 years is a “bear-market rally” and U.S. Treasury yields will “remain relatively low” as investors flock to the safest assets, Roubini said. Treasury Secretary Timothy Geithner’s new plan to remove toxic debt from financial companies won’t be enough for insolvent banks, he said.
Roubini’s outlook contrasts with predictions this week from Templeton Asset Management Ltd.’s Mark Mobius and Traxis Partners LLC’s Barton Biggs, who said that equities are poised to rally as government efforts to revive the economy and banking system begin to work. Investors are “way too optimistic” about the prospects for a recovery in the economy and earnings, Roubini said.
Stress Tests
The S&P 500 surged 7.1 percent on March 23 after Geithner unveiled a plan to finance as much as $1 trillion in purchases of illiquid real-estate assets, using $75 billion to $100 billion of the Treasury’s remaining bank-rescue funds. The government is conducting stress tests of banks to determine how much more capital each will need.
Roubini, who predicts loan and securities losses in the U.S. will reach $3.6 trillion, said the stress tests will reveal that some banks need to be taken over and have their good and bad assets separated before being sold to the private sector. He didn’t name which companies he thought would need to be rescued.
Futures on the S&P 500 expiring in June advanced 1.2 percent to 818 as of 8:30 a.m. in New York.
Critics of Geithner’s plan including Nobel laureate Paul Krugman, a professor at Princeton University, say the government should take over banks loaded with devalued assets, remove their top management, and dispose of the toxic securities. Sweden adopted the temporary nationalization approach in the 1990s.
‘Deflationary Forces’
“Some banks are going to have to be nationalized,” said Roubini. “It’s going to be bumpy ahead of us.”
Geithner and Federal Reserve Chairman Ben S. Bernanke this week called for new powers to take over and wind down failing financial companies. They said the U.S. also needs stronger regulation to constrain the risks taken by firms that could endanger the financial system.
With “deflationary forces” lingering for as long as three years, Roubini said U.S. government bond yields will remain low and American house prices will fall as much as 20 percent in the next 18 months. While the dollar will initially benefit as investors seek a safe haven in the U.S., the currency will ultimately drop as the nation’s trade deficit shrinks, he said.
Roubini dismissed China’s call for the creation of a new international reserve currency as a “pie in the sky idea” that’s unlikely to gain traction any time soon.
Mobius, Biggs
China’s central bank Governor Zhou Xiaochuan this week urged the International Monetary Fund to expand the use of so- called Special Drawing Rights and move toward a “super- sovereign reserve currency.”
Geithner sent the dollar tumbling yesterday by saying he would consider China’s idea, only to drive it back up by affirming that the greenback should remain the world’s reserve currency.
“This was a political call and in a nut shell - it ain’t going to happen any time soon,” Roubini said.
Mobius, who helps oversee about $20 billion of emerging- market assets as executive chairman at San Mateo, California- based Templeton, said March 23 the next “bull-market” rally has begun. Biggs, the former chief global strategist for Morgan Stanley who now runs New York-based hedge fund Traxis Partners, predicted the same day the S&P 500 may jump between 30 percent and 50 percent.
The benchmark index for U.S. equities has surged 11 percent in March, poised for its biggest monthly gain since 1991. The MSCI Emerging Markets Index of equities in 23 developing nations is headed for the steepest monthly advance on record after rising 20 percent in March.
March 26 (Bloomberg) -- U.S. stocks will fall and the government will nationalize more banks as the economy contracts through the end of 2009, said Nouriel Roubini, the New York University professor who predicted last year’s economic crisis.
“The stock market is a bit ahead of the real macroeconomic and financial news,” Roubini, a professor at NYU’s Stern School of Business and the chairman of consulting firm Roubini Global Economics, said in an interview with Bloomberg Television in London today. “We’ll have some major banks going belly up that will need to be taken over.”
The global equity rebound in March that sent the Standard & Poor’s 500 Index to its best monthly advance in 17 years is a “bear-market rally” and U.S. Treasury yields will “remain relatively low” as investors flock to the safest assets, Roubini said. Treasury Secretary Timothy Geithner’s new plan to remove toxic debt from financial companies won’t be enough for insolvent banks, he said.
Roubini’s outlook contrasts with predictions this week from Templeton Asset Management Ltd.’s Mark Mobius and Traxis Partners LLC’s Barton Biggs, who said that equities are poised to rally as government efforts to revive the economy and banking system begin to work. Investors are “way too optimistic” about the prospects for a recovery in the economy and earnings, Roubini said.
Stress Tests
The S&P 500 surged 7.1 percent on March 23 after Geithner unveiled a plan to finance as much as $1 trillion in purchases of illiquid real-estate assets, using $75 billion to $100 billion of the Treasury’s remaining bank-rescue funds. The government is conducting stress tests of banks to determine how much more capital each will need.
Roubini, who predicts loan and securities losses in the U.S. will reach $3.6 trillion, said the stress tests will reveal that some banks need to be taken over and have their good and bad assets separated before being sold to the private sector. He didn’t name which companies he thought would need to be rescued.
Futures on the S&P 500 expiring in June advanced 1.2 percent to 818 as of 8:30 a.m. in New York.
Critics of Geithner’s plan including Nobel laureate Paul Krugman, a professor at Princeton University, say the government should take over banks loaded with devalued assets, remove their top management, and dispose of the toxic securities. Sweden adopted the temporary nationalization approach in the 1990s.
‘Deflationary Forces’
“Some banks are going to have to be nationalized,” said Roubini. “It’s going to be bumpy ahead of us.”
Geithner and Federal Reserve Chairman Ben S. Bernanke this week called for new powers to take over and wind down failing financial companies. They said the U.S. also needs stronger regulation to constrain the risks taken by firms that could endanger the financial system.
With “deflationary forces” lingering for as long as three years, Roubini said U.S. government bond yields will remain low and American house prices will fall as much as 20 percent in the next 18 months. While the dollar will initially benefit as investors seek a safe haven in the U.S., the currency will ultimately drop as the nation’s trade deficit shrinks, he said.
Roubini dismissed China’s call for the creation of a new international reserve currency as a “pie in the sky idea” that’s unlikely to gain traction any time soon.
Mobius, Biggs
China’s central bank Governor Zhou Xiaochuan this week urged the International Monetary Fund to expand the use of so- called Special Drawing Rights and move toward a “super- sovereign reserve currency.”
Geithner sent the dollar tumbling yesterday by saying he would consider China’s idea, only to drive it back up by affirming that the greenback should remain the world’s reserve currency.
“This was a political call and in a nut shell - it ain’t going to happen any time soon,” Roubini said.
Mobius, who helps oversee about $20 billion of emerging- market assets as executive chairman at San Mateo, California- based Templeton, said March 23 the next “bull-market” rally has begun. Biggs, the former chief global strategist for Morgan Stanley who now runs New York-based hedge fund Traxis Partners, predicted the same day the S&P 500 may jump between 30 percent and 50 percent.
The benchmark index for U.S. equities has surged 11 percent in March, poised for its biggest monthly gain since 1991. The MSCI Emerging Markets Index of equities in 23 developing nations is headed for the steepest monthly advance on record after rising 20 percent in March.
Tuesday, March 24, 2009
HERE IT IS! FINALLY! 10 DAY FREE TRIAL
The Art OF Trading Email Alerts Service!
10 DAY FREE TRIAL
Starting today i will be focusing most of my attention on this service and it's subscribers. Blogging will have to take a back seat for now. Please take the time to read thru the details of this service. I am confident you'll find it to be a real asset to your trading arsenal and development as a trader!
10 DAY FREE TRIAL
Starting today i will be focusing most of my attention on this service and it's subscribers. Blogging will have to take a back seat for now. Please take the time to read thru the details of this service. I am confident you'll find it to be a real asset to your trading arsenal and development as a trader!
Monday, March 23, 2009
Trader Thoughts
I have scanned thru several popular bloggers sites and i still see tons of newbees still eager to bottom fish FAZ and SKF. I don't blame them (as long as they use stops and bail)but i am seeing them trying to rationalize their losses and sticking to their positions. That's a dangerous game imo.
I had a trader interview with Tim Bourquin today and i think Tim was very curious about why i have reduced my trading size by half or quarter after the huge winnings i had in 2008. He said "you'd think that i thought you would really be very aggressive and really be going for it now after these huge winnings?". Hopefully i got my point across by telling him that 2008 was my kind of market with a huge payouts to the bearish momo trader(that's me!). I also told him that the reason why i have reduced activity and size this year is because in the past, my biggest winning streaks have immediately been followed by my biggest losing streaks WHEN I USED THE SAME STYLE AND TECHNIQUES as i did during the winning phase. The Payout and Payback cycle which every trader goes thru. I am trying to avoid the payback cycle.
I realized that since 2009 opened up, momo bearish trades are NOT as visible and easy to play as in 2008. I am wathcing really good traders give back most of their 2008 winnings because they are caught in their old ways that made them $$$$. These are very experienced traders who made millions last year mind you.
my cents. hope it helps.
I had a trader interview with Tim Bourquin today and i think Tim was very curious about why i have reduced my trading size by half or quarter after the huge winnings i had in 2008. He said "you'd think that i thought you would really be very aggressive and really be going for it now after these huge winnings?". Hopefully i got my point across by telling him that 2008 was my kind of market with a huge payouts to the bearish momo trader(that's me!). I also told him that the reason why i have reduced activity and size this year is because in the past, my biggest winning streaks have immediately been followed by my biggest losing streaks WHEN I USED THE SAME STYLE AND TECHNIQUES as i did during the winning phase. The Payout and Payback cycle which every trader goes thru. I am trying to avoid the payback cycle.
I realized that since 2009 opened up, momo bearish trades are NOT as visible and easy to play as in 2008. I am wathcing really good traders give back most of their 2008 winnings because they are caught in their old ways that made them $$$$. These are very experienced traders who made millions last year mind you.
my cents. hope it helps.
SHORT 400 OIH at 83.27
Stop at 84. starting to see some negative divergences on many indexes on this move higher. Might see some softness.
Getting Ready For My Second Trader Interview With Tim Bourquin
Tomorrow morning. Just to prepare and refresh my memory from 2008's trading i have been going thru my blog's old posts from the past few months and I thought it would be neat to post some of the more memorable ones and the ones that meant a lot to me.
enjoy.
happy trading to ALL!
http://theimpatienttrader.blogspot.com/2009/01/shutting-off-distractions.html#comments
http://theimpatienttrader.blogspot.com/2009/01/i-got-enaged.html
http://theimpatienttrader.blogspot.com/2008/10/while-most-were-sleeping-i-spent.html
http://theimpatienttrader.blogspot.com/2008/06/stewies-blog-celebrates-its-500th-post.html#comments
enjoy.
happy trading to ALL!
http://theimpatienttrader.blogspot.com/2009/01/shutting-off-distractions.html#comments
http://theimpatienttrader.blogspot.com/2009/01/i-got-enaged.html
http://theimpatienttrader.blogspot.com/2008/10/while-most-were-sleeping-i-spent.html
http://theimpatienttrader.blogspot.com/2008/06/stewies-blog-celebrates-its-500th-post.html#comments
Sunday, March 22, 2009
Futures Screaming Higher As Of Now
http://www.bloomberg.com/markets/stocks/futures.html
Too bad, i was hoping for weakness to get LONG tmrw morning!
Too bad, i was hoping for weakness to get LONG tmrw morning!
Important Week
Will be a very interesting and important week for the indexes. It's do or die time for either the bulls or bears to regain control. My gut tells me that the bulls are not quite done yet however we look likely to see an important top of some sort soon. I am in the camp that believes that we will retest the lows and we cannot feel comfortable being long and strong until we get that SUCCESSFUL retest. If we retest in the coming weeks and this retest gets ugly enough sentiment wise and we get most of the bulls who have been calling bottom to capitulate with disgust then we can get the buy lists ready but like most retests it should be very difficult to step infront of it but definitely need to stay unemotional and tune out the doom and gloom which will be rampant.
good trading.
p.s.
Look out for my detailed post which will discuss the upcoming Stock Alerts & Indexes Service i will be offering soon. I am VERY EXCITED about this as i am sure many will find helpful!
good trading.
p.s.
Look out for my detailed post which will discuss the upcoming Stock Alerts & Indexes Service i will be offering soon. I am VERY EXCITED about this as i am sure many will find helpful!
Friday, March 20, 2009
Medium Term Sell Signal On Indexes
heads up if you are long and strong. we are approaching a mid term top imo.
NR7/Inside Day
Thus far, trade is very choppy and in a narrow range. If we close in this narrow range. This could be a good sign for higher prices.
SOLD FAZ 32. 83
trade taking too long. not a good sign. tiny loss. options exp today so it will likely to be a very trciky day. better to lay low today.
60 MIn Bull Flag on SPX
Market is up as i suspected but there is no edge here. No trades for now. Financials down so this mini rally is very fragile. eyeing FAZ for a possible entry.
Thursday, March 19, 2009
The Art Of Trading Stocks/Index Email Alerts Service
If You Have Been Following This Blog For The Past Few Months Then You Have A Good Idea Of What The Stock/Index Email Alerts Will Look Like:
YOU SHOULD EXPECT:
LOTS OF CHARTS!! You Know My Blog By Now! I Let The Charts Do The Talkin!
YOU SHOULD EXPECT:
LOTS OF CHARTS!! You Know My Blog By Now! I Let The Charts Do The Talkin!
- Weekend Summary of the previous week and what to look for the following week.
- Analysis of weekly, daily, 60, 30 and 15 min of stocks & indexes i deem relevant.
- Scan thru various of my watchlists to spot what i deem are good potential setups.
- Do not expect 20 different setups. Expect 3-5 SOLID setups. That's it! Less is MORE! (please make sure to double check earnings dates and/or distributions on etfs).
- I will help ALL members who have concerns about their trading or obstacles (via email). I will try and answer any questions and try and guide you in the right direction.
- I will email out swing trades & day trades candidates.
- I will do a daily analysis of major indexes and give possible direction expectations.
- I DO NOT TRADE EVERYDAY! So please do not expect me to shoot out trades at will.
- Good trades operate on their own time. Never force it. Let them come to you!
- I will always attempt to seek out THE LOWEST RISK enrties from my watchlist.
- I expect you to be somewhat independent in your thinking after reading thru the emails.
- I am most active in the 1st hour and final 2 hours. Don't expect much in between.
- I will shoot out emails containing specific stocks, entries, stops and always be aware of trade managements emails(such as moving stops to breakeven if a profit is realized, etc).
- YOU NEED TO STICK TO THESE STOPS otherwise what is the use. DISCIPLINE ALWAYS WINS.
- There is no such thing as the perfect trading system: expect drawdowns and win streaks. Managing these streaks is what good traders do so well!
- You will also get emails that look like this or this or this. Use it to your discretion. Trading is an art, be creative and practice using your own judgement.
- I will shoot out (from time to time) videos like this and this, even tho i hate my voice and always sound nervous!
- Index setups.
- Lots of trading psychology material to help you stay sharp, self aware and positive.
- ALL alerts/charts/trading thoughts/videos etc will be emailed to you and you should receive them within seconds.
I rarely ever use margin when trading. Money management on these trading alerts is totally up to you but i urge you to be smart and wise as to how you allocate money to ALL your trades. I personally like to use small positions this way i remain unemotional and think rationally thru out the trade. Once you start to take gorilla sized trades you are setting yourself up for failure, no doubt in my mind. Don't be greedy! Once you feel more confident in your timing, risk management and trading in general then you can increase your size.
I have been trading full time for 6 years now and i have tremendous respect for the market.
You will learn to be that way once you get your teeth and head knocked in a few times. I am much smaller than the market and i must abide by it's rules day in and day out or else i will be gobbled up and no one will even notice or care. You must respect the power of the markets you trade in.
Regular visitors of this blog and folks who traded with me on Wallstreak.com know how i trade and have seen my trading calls and have seen how i managed thru the worst bear seen in decades (in real time for the most part).
I have subscribed to many newsletters in my past and i know very well what traders wanna see. They WANT QUALITY INFORMATION & ANALYSIS that they can trade from!! At the same time, I WANT TO SEE ALL my subscribers do well or feel like their trading is taking a turn for the better.
How Much Will This Service Set you Back?
All this will cost you a mere $50 a month. I am trying to give a reasonable price that i think everyone can afford. $50 is the price of the commission on some trades!!!
Payment will be done thru Paypal.
This service is now active! So if you think this will be of use to your trading goals, THEN WHAT ARE YOU WAITING FOR?!
Subscribe NOW to The Art Of Trading Alerts Service!
Seeing It Again
Lots of bears coming out of the wood works among bloggers after today's very much 'expected' pullback. The rally imo, is not quite over yet. I think that we are very close to a major top but i do not think the upside is over yet. We shall see...
Market Update
Could be the start of a multi day correction but from the looks of it right now, i do not think that we have seen the last of the bulls. I actually think there's a good chance we head higher first.
The Art Of Trading Mentorship Program Update
April sign up is now full. Thank you all for responding!
The Art Of Trading Stocks/Index Alerts Service
Will do a BIG POST on what i have in mind for this later. I know that most people are interested in this one. This one will be much more affordable but it will be very valuable and should give most of you some good trading ideas.
Citi CandleStick
as ugly as this candle looks right now, i would NOT short it here. The selling in it thus far look very organized and smart. I could see it reverse higher later and tail off.
The Art Of Trading Mentorship Program Update
Fellow traders, I am amazed how quickly i have been getting responses from folks who are interested. Thus far, the mentrorship POST has been up for 6 hours and i have already recieved 4 emails from people who are interested. I am so honoured. Two spots left. ACT QUICK guys! Email me Now!
SOLD FAZ at 28.63
Total profit: $787. well, what do you know??? That pays for the mentorship program!! LOL!
I am not feeling the conviction of the profit takers here. maybe later.
I am not feeling the conviction of the profit takers here. maybe later.
MAjor Short Squeeze
Look at these panic gaps in FRE, AIG, FNM, and C. Internals looks solid which lower the odds of a potential reversal as of now. Could change later. These gaps you see in these financials looks exhaustive BUT the only probelm is that these names are so freakin heavily shorted and you just don't know who will be last man standing??? Best to just sit tight and let the squeeze happen and not get infront of it until better risk/reward start to mainfest themselves. kinda feel stupid for missing these runs.
Wednesday, March 18, 2009
The Art Of Trading Mentorship Program
It's simple:
I will teach YOU EVERYTHING i know!
I will teach YOU EVERYTHING i know!
- Charting from A to Z.
- Setting price targets from charting.
- Scanning and tracking 5, 15, 30, 60, daily and weekly timeframes to gain an edge.
- Using MACD and RSI to spot potential reversal spots.
- Volume anaylsis to spot fear and greed.
- Candles to spot exhaustion and reversals: (Check out this post).
- Using various indicators to detect potential major turning points.
- Studing market internals to determine strength or weakness in a move to spot reversals(check out this post).
- Preparing for the next market day and creating watchlists.
- Spotting the most reliable price pattern formations such as wedges, flags and NR7s.
- Trading using Reverse Psychology of Crowds.
- Position Sizing management so as to stay as "unemotionless" as possible.
- Trading the Holy Grail pattern in strong directional moving markets.
- Day trading and swing trading strategies.
- Knowing when/how to enter short positions.
- Building positions in stocks in anticiaption of a big directional move.
- Developing Market Feel take years to master but i will try my best here.
- Keeping and maintaining a Trading Log to monitor yourself closely.
- The importance of psycholgy in trading and knowing when to rest yourself.
- Being able to stay as neutral as possible and hence being able to switch your bias in a matter of minutes (seconds in some cases) and trade according to how the charts morph infront of your eyes.
- How to Think Outside the Box in trading.
- Coaching yourself thru self-talk and self anaysis.
- Avoiding information overload in trading. Simple is stressfree and usually better.
- I will analyze your trades, your trading and give you good honest feedback.
- NO Options, futures, or forex. I don't mess with these things.
That summerizes what i have in the pipeline, I am sure tons more stuff will come whilst teaching.
All this will be LIVE and REAL TIME and communication will be done on AOL Instant Messenger and MSN Instant messenger.
I will be at your service from 6AM to 2Pm west coast time or (9Am-5Pm east coast time). Will be small breaks in between these times but you will be notified.
I will allow up to a 30 minute phone call per day with each student.
I will give BUY or SELL recommendations in real time on trades you are watching.
I will call out potential good entries on trades, stops and will give constant feedback as where i think market prices might be headed.
I DO NOT trade everyday so please do not expect me to call out trades every day. I hate to force something that is not there.
Anyone who is serious about their trading should consider taking this step. There is no doubt in my mind that you will grow as a trader after completing this program.
I DO NOT guarantee you will be a Trading Heavy Weight once you are done with this program but i am confident that you will be BETTER, MORE SKILLFUL and MORE CONFIDENT in your abilities which will hopefully open the potentail to make better trades and make more money(I legally cannot guarantee that obviously). I am also convinced that this program will TAKE YEARS out of your learning process and we all know the learning process means money lost, which is something i had to do on my own and it took me a good ten years; subscribing to dozens and dozens of newsletters and reading tons of trading material, books, blogs and attending seminars etc. The learning process is THE TOUGHEST PART OF TRADING. MOST traders don't last long enough to get thru this very vital step. MY GOAL WITH THIS PROGRAM IS TO SHORTEN THIS STEP FOR YOU. I AM VERY EXCITED ABOUT THIS!! As many of you already know, I LOVE HELPING traders! Why? Because i know this is a tough gig and i never ever had help and it's my way of paying back but if you do it right, this gig could be the most rewarding thing you do!
This program will take out YEARS off your learning process. I am confident of that.
Regular visitors of this blog and folks who traded with me on Wallstreak know how i trade and have seen my trading calls(many outrageous) and have seen how i managed thru the worst bear we have seen in decades. 2008 was my best year trading and it's because of the skills I plan to teach and this is what I am excited about!
What Is A Fair Price?
I decided that I have to charge what i think is a fair cost for me and the student. It took me years of hard work and dedication to get to where i am today. I lost tons of money during the learning process and this in my opinion is the price that you pay in the school of hard knocks. I knew it and i accepted it. I never had a mentor to show me the ropes, I did it all ALONE unfortunately. That's why it took me for damn long to finally get it right.
Do i wish i did it differently? HELL YEAH!!!!! Without question! I wish I had a good mentor that held my hand an took me under his wing. I would have paid $5000 easily if the mentor was a good one and helped shorten that vicious learning curve.
I am offering this one month mentorship program where i will attempt to teach you everything i know for $795. Sounds like a big amount, right? NO WAY! This is NOT a big amount if you can only think about how much money your learning curve will cost you if you skipped this step. Believe me, if i had to do this trading journey all over again, I would do it thru a mentor, no question in my mind! I would want a mentor who truly wants to see me grow as a trader however. I WANT to be part of your transition process from an average struggling trader to someone with skills, confidence, discipline and lasting power.
I will not be able to accept more than 6 students at any given month. This will simply be too much for me to handle and it would not be fair to the student who will require a lot of attention. I will accept the first ones that reply to me at traderstewie@yahoo.com
First come, first serve! You better email me quick because based on the emails i have been receiving over the past few weeks, these classes will fill up quick!
Anybody that comes after that will just have to wait till the following month.
Paypal will be setup on my blog soon!
First class begins April 1st and will run til April 30th.
Invest in yourself and it could be the best trade you have ever done!
I will only feel like this mentorship program has succeeded if YOU FEEL LIKE A MUCH BETTER and MORE SKILLFUL TRADER to tackle these markets with confidence!
I WANT YOU TO WIN pure and simple!!!
Are you ready for the TRANSITION PROCESS? Then Email me NOW!
Important Notice - Risk Disclaimer: Stocks trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the stock and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell stocks. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any stock trading system or methodology is not necessarily indicative of future results.
Strong BUYS
SKF and FAZ should produce some killer gains over the next 2-4weeks but need to give them room to breathe a bit imo. So maybe a small position and more breathing room will be the swing strategy here.
Trading On FED Day..
..is equivelant to having many mini heart attacks. Totally not worth the drama. better to sit out and watch what ensues the following days.
Market RALLY Facts
s&p 500 up 20% in 9 sessions.
In the words of Eric Cartman: HOLY JESUS MONKEY BALLS!!
BINGO! I SEE GREEN!
I warned against shorting a market that won't drop and especially on a FED day. hate to be the bears today. If they don't capitulate today then WHEN???
Keep FAZ On The Watchlist
AIG, FRE, FNM, BAC and C(garbage financials) all attracting speculative money now. They are melting up and FAZ is crashing obviously but keep this on the radar as it will be a solid trade soon.
A Market That Refuses To Drop Will ONLY Do One Other Thing...
GO UP! no shorts here imo. DOW has recovered most of it's losses from the morning and Nazz and SPX are in the green now. But there are some concerning happenings. Garbage penny stock financials are melting up and that usually happen towards the end of a move not at the beginning as speculative traders get greedy and crap shoot for home runs(greed).
Rock The Vote!
If you liked my posts over the past few sessions or you've been watching my trading by following this blog over the past few months and think my trading service could be of value to you, then please let me know what's on your mind by either voting on that pole you see to your right or feel free to email me at traderstewie@yahoo.com
I will give details on both the Trading Service and The Private Coaching Program later in the week.
I am very excited about this step i am taking and i am going to dedicate a good deal of effort on making my clients better traders.
Don't be Too Eager To Short Here
I see no reason to get ready to short. Market is down but i don't think it'll stay down. On FED days it's best to lay low and other gun slingers fight it out.
My FIRST Trade
After winning 2 paper stock trading competitions in 1996 and 1997 while in University confidence was sky high walking around the University Of Portland campus. In 1998 i worked part-time in the computer lab and managed to save $500 and opened a Scottrade account. I was SO excited to start my trading journey.
Recall the 1996-1998 time frame, the mind boggling and until this day the MOST amazing bubble i have ever seen. Cab drivers and college students were increasing their accounts by 100-500% and everyone who bot AMZN, JDSU, QCOM and AOl thought they were market experts. I remember it very vividly, the wealth creation was dreamlike, everybody wanted to trade and everybody made money. You could not go wrong! Just BUY TECH! Henry Blodget and Mary Meeker(poster boy and girl analysts who kept the dream alive with outrageous high price targets).
So the journey began after i opened my little scottrade account and back then IPOs were the talk of town. So i decided to buy $500 worth of TheGlobe.com in November 1998. The pricing was at $10(if i recall right) and being the rookie that i was i thought that i would get that price buying at the open of trading on IPO debut(shows how little i knew)....WRONG!!!! The stock opened in the $80 range(if i recall right) and i remeber saying "shit! i knew the puppy is gonna sky rocket, i want in!" So i placed a market order and watched the stock drop about 15% after i bot it. YIKES!!! I got the fuck out the next day i believe.
That was my first trade ever and until this day i will never forget it. I used to trade in between classes in the computer lab. LOL! Back then the market was forgiving. I learned my lesson and never traded IPOs ever again. I did however end up buying the Internet high flyers AOl, AMZN, JDSU etc and my account grew to $2600 and i closed the account and went on to buy lots of beer and new gear. LOL!! Opened my second account a few months later.
How far i have come since that trade....it's almost surreal that i am still in the trading game after all these years and man-o-man do i have some war stories. There must have been hundreds of thousands of trades after that one.
That's my first trade, thanks for reading.
Recall the 1996-1998 time frame, the mind boggling and until this day the MOST amazing bubble i have ever seen. Cab drivers and college students were increasing their accounts by 100-500% and everyone who bot AMZN, JDSU, QCOM and AOl thought they were market experts. I remember it very vividly, the wealth creation was dreamlike, everybody wanted to trade and everybody made money. You could not go wrong! Just BUY TECH! Henry Blodget and Mary Meeker(poster boy and girl analysts who kept the dream alive with outrageous high price targets).
So the journey began after i opened my little scottrade account and back then IPOs were the talk of town. So i decided to buy $500 worth of TheGlobe.com in November 1998. The pricing was at $10(if i recall right) and being the rookie that i was i thought that i would get that price buying at the open of trading on IPO debut(shows how little i knew)....WRONG!!!! The stock opened in the $80 range(if i recall right) and i remeber saying "shit! i knew the puppy is gonna sky rocket, i want in!" So i placed a market order and watched the stock drop about 15% after i bot it. YIKES!!! I got the fuck out the next day i believe.
That was my first trade ever and until this day i will never forget it. I used to trade in between classes in the computer lab. LOL! Back then the market was forgiving. I learned my lesson and never traded IPOs ever again. I did however end up buying the Internet high flyers AOl, AMZN, JDSU etc and my account grew to $2600 and i closed the account and went on to buy lots of beer and new gear. LOL!! Opened my second account a few months later.
How far i have come since that trade....it's almost surreal that i am still in the trading game after all these years and man-o-man do i have some war stories. There must have been hundreds of thousands of trades after that one.
That's my first trade, thanks for reading.
Tuesday, March 17, 2009
Scanning Thru Several Charts: One Major Problem For The Bulls
I cannot help but notice the lack of volume in today's move(the entire move up for that matter). Short squeeze and not real buying imo. Doesn't mean that it cannot drift higher but if these lower volume rallies starts to become a trend, then surely the bears will get aggressive again.
Anxiety
Like i mentioned yesterday, there were way too many bears around after yesterday's late selloff for me to feel comfortable to hold FAZ. That's why i got rid of it this morning. I was too busy doing side stuff to put on any long trades unfortunately.
One sign of a tidal wave shift is when lesser experienced traders are very eager to wanna short and start to give up the upside potential. Looking around, i can "smell" anxiety and hopeful "late of the party bears" hanging on for dear life here. I do not like the idea that stocks will drop from here. I say it goes up, way up potentially even. We shall see...
good luck.
One sign of a tidal wave shift is when lesser experienced traders are very eager to wanna short and start to give up the upside potential. Looking around, i can "smell" anxiety and hopeful "late of the party bears" hanging on for dear life here. I do not like the idea that stocks will drop from here. I say it goes up, way up potentially even. We shall see...
good luck.
Got Lots To Do
I will be very busy next few days. I'll peek my head in every now and then but i will have my hands full getting the service up and running.
Good luck.
Good luck.
Monday, March 16, 2009
Looking Thru Many Other Blogs
it seems like literally everyone got short today. LITERALLY every blogger seems to be short. Also, popular bloggers seem to be flooded with comments from lesser experienced traders getting into short exposure. Not sure I like this situation from a bearish aspect. Bulls might surprise this week. Amazing developments and very exciting.
Nice Reversal At The Close On FAZ
Strong volume to boot. Gonna swing those 300 shrs and i believe that i have an excellent cost basis so now let's see what happens tmrw. With this reversal, I ended up $900 on the day, after being down $800 in the morning. Keeping losses small while i found the 'sure fire trade' was the key today.
LONG FAZ: Swing Trade: 300 shrs at 36.48
gonna give it room to breathe. Today's move in C could have been a buying climax. Opposite of a selling climax. Puting a stop at 33.
Long BAC
Long 3000 at 6.55. Feel like it do what C is doing today. Stop at 6.25. Hoping to swing it.
On Days Like Today
less is more. The less you do, the better. The trades in Inverse etfs are not working right off the open, so this tells me that this mrkt might setting up yet more upside. I am down a little bit on the day and will sit on this small loss until i see more sure fire trades. Bulls are very impressive here and they need to be respected.
Pre Market Futures Gapping Higher
Will this be the gift the bears wanted? Let the first hour tick away and let's see how they digest this gap. I am eyeing FAZ long as of now but that could change depending on developments.
Good luck.
Good luck.
Scanning Thru Several Dozen Charts Tonight
The following words come to mind: sloppy, fragile, counter trend, messy, weak bases, pathetic. You get the idea. I highly doubt this rally has too much more to run. Maybe a couple more days of floundering around currents level before we rollover and start a retest of recent lows. We need to see more PAIN before we can be more confident that a mutli week rally can take shape.
Saturday, March 14, 2009
The More I Watch My Previous Post's Charts..
...The more bearish i feel going into next week. i know i know, i do sound crazy to doubt the bulls right now, but i gotta trust my gut here and go out on a limb and say the bears will be back next week.
The candles printed on FAZ, SKF and TWM are very bullish.
The candles printed on FAZ, SKF and TWM are very bullish.
Friday, March 13, 2009
Stopped Out Of FAZ For a $2.98 Gain.
or about $1000 profit on the day. In cash and i am done for now and will be back at the close.
Volume In FAZ Is Very Strong
It's only 9:15 AM west coast time and volume in FAZ thus far is coming in very strong. We are already at almost 20 million shrs. Could be a record volume day come the close. I am still in it and it's working out quite well thus far. Moving my stop to 43.1 now. I really like my cost basis and hoping i don't get stoppe dout cause i really wanna swing into next week.
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