On Vacation

Sorry the Blog has been black, I am on vacation and will pick things back up after the first week of July. Thank you and trade safely

A look at the Major Indexes and more

Here is a video link with my view of the major market indexes and a couple of stocks I am watching.

http://www.screencast.com/t/MzA1YWM0YW

Vacation

Have been away for the last couple of weeks, just peeking in on the markets here and there. Might be a little snap back rally possibility in the works, but ultimately I think we go lower here as the major indexes and most sectors continue to be in a downward trend, accompanied with horrible job numbers and further European issues I think we will retest the Flash Crash and February lows at a minimum. I will be in and out for the rest of the week. Also will be hosting Tidetraders.com chat room for the Rickster a couple of days while he takes some time off. Talk to ya guys soon.
Trade well.

Ugly Day, Stay Away

Just wanted to get a quick video out on the major indexes and cover some market posture. This is a fantastic time to Sit on Hands (SOH). We should expect market volatility of this 3 figure nature in the DJIA and several point percentage moves in most financial instruments for weeks to come.

If you are not a professional I would insist that you use this time to raise cash and sit on the sidelines. Don't misunderstand me, this is a great time to be a intra-day trader, but even those individuals can get their chops licked in this environment.

After the "Flash Crash", May 6th action, we saw, it further confirmed our thoughts to get hedged and use great caution. That day I got stopped out of most of my long positions and posted a couple of videos with ways to benefit from a down market. You can find those thoughts and videos in the archives. They were posted on May 10th and May 12th. This video link is a review of those positions and just forward looking thoughts.

Please be cautious in this environment. I anticipate we get a snap back rally but much over head supply should mute the bulls. Take this time to possibly sell longs into strength and further accumulate a CASH position.

http://www.screencast.com/t/MTlhNmRlYW

Good Time to be a Hunter

We might see some further weakness. Do not lose focus or throw all your cards in. These times are great to sit on hands and look for great setups on stocks that we have been wanting to get into for a long time and the market just did not let us. Remember, one must be vigilant and trade what the market gives us, also remember that the market tends to try to prove as many people wrong as possible. With that being said, as everyone is starting to talk about getting short, don't be surprised if the market does not surprise once again. This is a good time to tighten up stops and look for low risk entries. Just remember the Volatility is a bit inflated which means we should see large swings. If you can not handle the volatility, do one of two things, trade smaller lots or sit on the sidelines and wait for the volatility to subside.

Observations on the Major Indexes

Here is a link to a quick video on the Major Market Indexes
http://www.screencast.com/t/OGMzNWZiZ

ES Futures Trade Update

I got stopped out of my /ES Futures trade this morning as the markets continued to sell off. -4 points.