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First of all, a reminder – the US market will be closed on Monday in observance of the Labor Day holiday. Picks are still due on Sunday, by 3 pm.Congratulations to Spiker Steve S on his latest weekly Gold. In reading his report, I especially liked his comments on learning to take profits, not overstaying a profitable trade.
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Hello SpikeTraders,First, an announcement: we’ve scheduled our next Password class for 6 pm on September 8 (Thursday, a week from tomorrow). Class details and a link will be sent tomorrow, but you can already mark your calendar.Today, for the third day in a row, the market tried to a rally in the morning but sank and closed lower, dashing bulls’ hopes. Let’s see what our charts tell us today…
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Hello SpikeTraders,“When in doubt, stay out” is an old Wall Street saying.In my SpikeSpeak a week ago I wrote “…this summer rally had entered its topping-out zone.” And in my NHNL post on Tuesday: “In my personal trading, I am standing aside this week.”Let’s see what our charts tell us today…
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Congratulations to David C in Canada on scoring yet another weekly Gold.
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Hello SpikeTraders,Today’s rally got going at the open, topped out around 11 am, and then the market hanged flat. It woke up in the last half hour of trading and by the end of the day hit a new high for the week.Let’s take a look at our charts…
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BARCHART DROPS SPACs FROM ITS NHNL LISTS.[ Member Mark C in New Hampshire is a very serious researcher. In 2018 he developed the Capitalization-based NHNL Index and shared it with me. Mark tends to look deeper than the reported numbers. Here are his latest findings which he shared with me last weekend – AE. ]
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Hello SpikeTraders,Yesterday, NHNL gave us a Spike Bounce signal. It was rated weak, but today’s rally was quite healthy. Let’s take a look at our charts…
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Hello SpikeTraders,Today, after a vertiginous decline on Friday and Monday, the market traded in a narrow range. The S&P opened flat, poked six points below Monday’s low, and closed below Monday’s close. The numbers of New Highs increased while New Lows diminished. Let’s take a look at our charts…
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Hello SpikeTraders,Market’s steady rise off its June bottom had sent speculative juices flowing, and by early August the notorious FOMO (fear of missing out) was in full swing. That wave may have crested last week, with spectacular sinking spells in well-known ‘meme stocks’ such as AMC, BBBY, GME, etc, as well a whole lot of newer ones, such as SAVA and VERU. Each morning I take a quick glance at bitcoin – not to trade but as a measure of speculative temperature, because that’s where gamblers are. Last Friday this ‘currency’ went down over 10%.Let’s take a look at our charts.
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You’ve got to read the report from a Spiker who won Gold last week. He did an impulsive trade – and got lucky. Had it gone the other way (which it did for much of the week) – he would have lost his Spiker spot. Nilton writes that he learned from his adventure and will never do that again. He even sent an apology to Kerry and me – and I believe him.