In my recent post, I passed along four things that I have learned from serving as a trading coach for hedge fund portfolio managers. This post takes a different perspective, identifying several trading psychology “truths” that I have had to unlearn as a result of working with experienced professionals. Here are a few myths I’ve had to dump along the way:…
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I’ve received questions recently about all the stock dividend dates, so I thought I would clarify them for you. In addition, for those who are interested in ‘buying dividends’, I have listed the stocks going ex-dividend during the first two weeks of July. Here’s what each of the dividend dates mean.Declaration date: the day that the company declares that there is going to be an upcoming dividend….
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As noted at the end of last week, I have positioned myself for a bounce. However, these plays are short term and I will use the bounce to deploy a number of short play. Here is the plan for the S&P. This chart annotes SDS, the inverse S&P short ETF. Looking at the S&P from an inverted perspective, via SDS, it’s obvious that the bears are in control and strategic shorting is the best way to…
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Baby Dragon
Very small room for really
5 foot ceiling is the deal breaker. 
Bringing Down Bear Stearns: Politics & Power: vanityfair.com…
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reviewed my book and here is an excerpt.”That’s right, I want you to pick up a copy right the hell now and read in awe as Shannon explains how it’s not just about memorizing chart patterns—anybody who tells you that is a typically useless finance freak—it’s infintely more important to understand how variables, players and emotions align to create shockingly similar, repetitive, and, more importantly, predictable chart patterns.”…
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* The Dow is now down three quarters in a row.* Worst June since the great depression.* New home sales at levels not seen since 1991.* Bell-weather companies like General Electric giving dividend yields we never thought would come to be.I can go on and on…The point is: it’s time to start making a shopping list….
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The vast majority of finance books written in the last decade are complete and utter shit. (I know this, you know this, hell, even our joke of an industry itself knows this, but nothing’s changin’ anytime soon cuz shitty books still make money due to the financial miseducation of the general public aka Watch TV and you won’t get rich, you’re just gonna get fat…or fatter!) Because they are written by marketers, fee-earners aka scum suckers, frauds, talking heads and sugarcoated / generalized to the point where we find our once great profession near-dead last in understandability/openness/excitement and widespread profitability.
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Today’s action slammed both bulls and bears… more than once! It was another rough trading day, which can be expected during the summer months of low (relative) volume. Let’s view some of the price structure trades that could have been taken, in an effort to familiarize ourselves and trade more appropriately next time.
Let’s use the DIA 5-min chart as our trading proxy:
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Markets closed +3 on the DJIA, -22 on the NAZ and +1.6 on the SPX- not too good considering where we traded about 60 minutes before the bell-.Strong sectors - telecom, utils, steel, oils and drugs while financials, homies, retail and internets lagged….
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Last week, the market sustained serious technical damage. Major support levels have been breached and the momentum clearly favors the downside. Currently, the SPY is only $3 away from the double bottom formed in March. A retest of that level is likely. This morning, the Chicago PMI came in a largely as expected. Business activity has contracted for the fifth straight month. Production fell to 45.1 from 51.5 and new orders fell from 56.1 to 52.0. This holiday-shortened trading week will include many economic releases. Construction spending, ISM manufacturing, ADP employment and factory orders will all be released before Thursday. Without …
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Advanced Battery Technologies, Inc.(Public, NASDAQ:ABAT)
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Chart courtesy of stockcharts ( click to enlarge )From my point of view I think Google may break down here. This stock is slowly but steadily coming down on each passing day. The stock closed fractionaly above the major support at $525, but any close below this level could have further negative implications for the stock, and a move to $460 cannot be ruled. At this time the stock is still trading below both 50 day and 200 day moving average showing weakness on the stock. In addition, falling MACD, now below 0, also indicates bearish trend. Stay tuned on it. …
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Chemical & Mining Co. of Chile Inc. (SQM)3 Month Chart…
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A common question I receive is if I am aware of a reputable company which allows electronic trading of the traditional commodities such as Oil, Grains, Meats, Metals, and also Index futures such as S&P’s, Dow, Nasdaq, and Russell. At the trade show in Ontario, CA last week I met with Mark Monaco, who is the Head of sales for Prime Investments LLC and also Ehedger, both Introducing Brokers at the Chicago Board of Trade in Chicago, Illinois. I used to work with Mark and know him to be a good man an excellent trader. Mark showed me his company’s trading platform and told me about his company’s background of 40 years trading at the CBOT and expertise in trading grains as his company’s owners are third generation corn and soybean farmers in Northern Illinois, they not only understand the technicals of trading, but also are very close to the fundamentals. I am convinced that if you are interested in this area of trading for a portion of your capital, you should check them out. Mark can be reached at 312-786-4188. The company caters to …
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In the last note we assured you of a Summer rally but OIL had put a roadblock up and so has certain sentiment and non-panic indicators that need to be hit to trigger some real buying. As of now there is just the same old Bear market winners gobbling up space !We need to have a spike down to washout those who bought the big drop last week and I think the news over the next 48 hours will set the stage for that rally all the bulls now are desperate for. GM and Ford are the real culprits now as credit and financials on these two backbones of our economy are questioned. All financials are troubled and techs are not responding as well for now but it may take a mini-crash of only hours to get us in a buying mood for a run up to 1400 SPX….
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Fuel Systems Solutions, Inc. has a good tone to it this afternoon so keep it on the radar….
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If anyone know´s any method, tool, web-service, software or similiar to check at timely basis new web and blogsites opened for instance in recent months in related financial area, please send me an a-mail.This web development speed is far too fast for lazy google surfer like for me.Regards,Market Geometry…
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Congrats to Spain for winning the Euro Cup….and providing us an excuse to Google up some Penelope Cruz. When will I learn though: Never Bet the Over!And hey, how ’bout them Inverses? I believe they mess with volatility and put/call readings in that they provide an alternative to puts. Not so much in a frenzy, but in the 99% of the time where nothing much is going on….
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