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06/2008
17.03.2008
Editor's
Notes
Trading
Tips:
Trader and analyst
Sector
and ETF
Watch list
Stock
watch list
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blog
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stock trading
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Key
supports in action
Hello,
finally stock markets are on key supports. And therefore stock market
action is so choppy. Up, Down. No trend.
This week also will be FED decision on Tuesday and holiday in US on
Friday. |
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So I am in very conservative mode now and I do not want to do a lot of
trades right now. New short term trend has to start again.
As market consolidate near bottoms of last 4 week action, I think that
new downtrend move will come soon. Then it will be good to enter shorts.
Till that time I will be mostly in cash. One hedge
fond manager I know says: "Cash is also position."
Happy trading,
Richard
Trader and analyst - do you cover both
personalities ?
Every retail trader has to be 2 persons in one. An analysts who is
preparing trade setups and trader who is actively acting on stock
market.
It is not easy to work as 2 persons. I found that when I set my daily
schedule, it helped me to handle this situation. My current
daily
schedule I published on my web pages
.... top of newsletter
Sector and ETF Watch List
Commodity ETFs are really
overbought and correction is needed. I am still waiting for some
decent pullback for new entries.
Long
ETF watch list: GLD,IEF,DBC,UNG,EWZ,GML
Short
ETF wacth list: XLY, UTH EWY, FDN, International ETFs like EWH and
INP, EWU, FXI (inverse FXP)
Here is weekly chart of TLT. It is forming Head and shoulder pattern.
It can signalize top and possible breakdown of support.
Stocks Watch List
If markets will break supports down then I will go aggressive short.
But as this week is shortened and FED decision on Tuesday I will stay
on sidelines probably.
Long
Watch list: FDP,GILD,
ACV,IBM,KOP,LKQX,NPBC,ONB,PRGO,R,SIAL,SNH,URBN, CLHB
Short
trade watch list: AMZN,GOOG, EBAY, WYNN, MNST,
JNPR,AKAM, VRSN,
Questions ?
I will be pleased to reply to any of your questions. Do you have
something to discuss ? Or would you like to read something in next
issue of newsletter or on my web pages or in my blog ? Let me know .
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