Here's an interview I did last week with Tim from TraderInterviews.com. Tim has built up quite a library of interviews which you can have delivered right to your iPod / iTunes (or whatever podcatcher you use).
I think it's safe to call today a stalemate between bulls & bears. After being down a little early, then up a little more the market rolled over to close near the flatline. Volume contracted for the second session in a row after the big drop on Thursday.
The Naz tested 2,575 and its broken March trendline and fell back. I'd really like to short it under today's low with a stop just above today's high...
The S&P is hovering above the supposedly psychologically important 1,500 level. (Uh, that should be "retRacement" on the chart below.)
The Russell managed to hold above its March trendline.
No changes
| Trend | Nasdaq | S&P 500 | Russell 2000 |
| Primary | Up | Up | Up |
| Intermediate | Up | Up | Up |
| Short-term | Down | Down | Down |
(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
Lat Indicates a Lateral trend
Hey Mike,
This is an amazing blog and incredibly helpful to traders just starting out. I've gotten more ideas /pointers/links from your archives than from any other place.
I listened to your podcast and read your blog entries about the tools you use... and I have a question. When you say you use CyberTrader, does that mean you use Schwab StreetSmart Pro, which is powered by CyberTrader? Do you still get the "per share" pricing or do you now use the Schwab fixed fee per trade pricing? If you get the per share fees, is it because it was grandfathered in from your CyberTrader account? As far as I can find on the net, after the Schwab acquisition, the Cybertrader website just refers people to open accounts at Schwab.
Phil,
No, I don't use StreetSmart Pro. I'm an old school CyberTrader client. They are supposed to be merging the platforms later this year. Once they merge I guess I'll be using StreetSmart Pro. They tell us that they will grandfather us in on the per-share commission structure.