I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
For a while now I've been meaning to explain who I am and how I trade. After reading Dr. Steenbarger's blog today, I've been inspired to do it, so here goes. It appears that my trading philosophy is very similar to that of Dr. Steenbarger. I'll attempt to use similar headings so you can compare & contrast.
We had a real stalemate at the end of the day. The S&P 500 bounced between 960 and 965 for the last 90 minutes of the day. But it closed at 963.59... what a tease. Perhaps it'll be able to break 965 next week.
I think I'm done for the day. Time for me to get ready to go see one of my favorite groups, the legendary Roots crew, in concert . I'll post some charts over the weekend.
The market is flying now as word of the national terror threat level being lowered to yellow. NASDAQ is bumping up against 1600, and the S&P just blipped over 965. Should be an interesting final 90 minutes of trading today.
We've got a nice rally underway based on the much better than expected Chicago PMI report. We're hovering just above yesterday's highs right now. I can't help feeling that now that we've got a clearly positive economic report there will be a bit of a "sell the news" reaction. We'll know soon enough. (Damn, I'm starting to sound like the perma-bears I always make fun of.... right Duru?)
Edit to add: It's also worth noting that the S&P 500 is hanging just under that all important 965 level. A close above that level could unleash a flood of buying next week.
I thought I'd highlight some other market related blogs in case you haven't noticed these in my BlogRoll. Check them out.
Note: Here is a more comprehensive, continually updated list of stock market/trading blogs.
For a change the indices went their separate ways. The Dow (-0.67%) and S&P 500 (-0.35%) ended the day lower, while the NASDAQ (+0.46%) showed great relative strength and closed higher. However all three indices closed well off of their highs. They were all repelled by their upper Bollinger Bands for the second day in a row. Given how far we've come over the last 6 days I wouldn't be surprised to see the indices drop to their middle Bollinger Bands over the next few days.
Now for the charts. I've decided to take a look at the weekly chart of the S&P 500:
A slight dip in today's rally due to this article in the Washington Times - Al Qaeda warns of threat to water supply
Here's an article which tests the widely held belief that crossing above the 200 day moving average is a bullish event. (warning, if you have a pop-up stopper, turn it on b4 clicking that link.) After running several tests, this is the author's conclusion:
Arguing about the trend of the market based on the 200-day moving average might be fun at cocktail parties (depending on your definition of fun) but won't really make anyone money. Instead, buying when the trend is absolutely, unequivocally down and the market is plummeting vis a vis its 200-day moving average is usually the best time to take a trade on the long side. By the time the talking heads are debating a new trend when price closes above the 200-day moving average you are long gone out of the market, hopefully on vacation.
I am diametrically opposed to that viewpoint, but it certainly can work. (There are many ways to make money in the market.) I will rarely, if ever, buy a stock as it's crossing over a moving average. I'd much rather let it rise above the average and then buy it on the inevitable retest of the average from above. Preferably after it's made some kind of bullish reversal candle on, or near the average. So I'll continue to use moving averages to define trends, and then trade with the trend. Remember, the trend is your friend.
You've all probably heard about LeBron James' $90 million deal with Nike. Well as an encore, they signed 13 year old soccer player Freddy Adu to a million dollar deal. Well, no sooner than this article was written - Perhaps next, Nike will sponsor a newborn - Reebok is rumored to have signed 3 year old Mark Walker Jr., aka Lil' Mark. (I just heard that on Pardon the Interruption) I guess Reebok didn't want to risk losing another kid to Nike. Lil' Mark once made 18 consecutive shots on an 8-foot basket. I can understand the logic behind Nike's signings, especially for getting Adu for just $1 million. But a 3 year old? Me thinks there may be a bubble in the kid signing business.
I thought I'd post a chart of the dollar since I'd been mentioning the recent slide so much. The dollar actually had a nice bounce (+0.92%) on Friday, presumably due to the good Chicago PMI report. It looks like it may be stabilizing on the daily chart. But I think the long-term chart is more interesting. So I'm posting a monthly chart.
