Trader Mike

I was asked do a chart of GM which was on fire today on news of a potential alliance with Nissan Motor Co. Ltd (NSANY) and Renault SA (EPA:RNO). Here’s the chart:

Given all that could have happened today with it being quarter-end and the Russell rebalancing its indices things were rather quiet. Although volume increased on many indices I think that was all due to the rebalancings. The Russell 2000 had a nice 1.45% gain today thanks to that rebalancing, even if all the [...]

If there was ever a day to maintain your discipline today would be it. I think we could see some nutty moves today due to a few things. First, it’s quarter-end so expect the typical mark-up (and down?) games by the fund managers. Second, it’s the last full day of trading before [...]

The indices, with the notable exception of the NDX / QQQQ, finally broke out of their recent trading ranges. It was nice to finally get a post-Fed reaction that wasn’t full of violent reversals. Today’s move seems to send a very clear signal:

Then again, if I remember correctly, the early January rally happened [...]

Brian at Alpha Trends has been providing daily videos of his technical analysis of the market. He does a great job of covering the markets in under 10 minutes. Here’s what he had to say yesterday:

There are more market-related videos on YouTube tagged as ‘daytrading‘, ‘forex‘, etc. Unfortunately the more obvious tags [...]

Note: Once again there will be no watchlist tomorrow since I’m taking the day off for the Fed decision.
Second note: Apparently the July issue of TASC Magazine is on newsstands now. In addition to my interview there’s a review of Barry’s blog in the issue.
The indices continued their range-bound ways [...]

I thought I’d answer these questions on the site since I get asked some of these often…
Mike, if there is a better method for me to ask you these questions, please let me know. You may choose not to answer any or all of them or not reply to this email at all. [...]

Note: I have a meeting tomorrow morning so there probably won’t be a watchlist.
The action today was a little bit better if you were willing to go short. The indices fell to the bottom of their recent trading ranges on a slight increase in volume. So the bears win this round of [...]

Looks like a flat open today. Let’s see if we can break out of the recent trading range. I’m not holding my breath though…
Potential swing trades:

Here’s another chart for Jerry:

PCU might of broken the downtrend and is getting interesting here. I am wondering if all that PD money is flowing into PCU.

I don’t know if the PD money is flowing into PCU but PCU does look good right now…