Jingle bells, jingle bells, jingle all the way! Let us ring those bells for the winners of our Q4 trading competition. Let us ring them again for the annual 2008 winners.
We consider New High – New Low to be the best leading indicator of the stock market. This is why we update it every day on the Members’ page of SpikeTrade.comWe congratulate Vladimir B, a Guest member from Brazil for having created NH-NL for his country. It was a lot of work! Vladimir is planning to updated the Brazil chart every week, and we will post it in our blog – please visit, read, and enjoy!Alex
In speaking to traders around the world I often show them our NH-NL – and then challenge them to produce NH-NL for their country. I promise a prize of a bottle of wine to the first peson in a country to produce this index – and people tell me to start shopping – but so far no one claimed a bottle. Until now! Vladimir B, a trader from Brazil, created NH-NL for Bovespa. With his permission, I posted his results on SpikeTrade.com blog – those charts are awesome! Be sure to visit, take a look, and please post a comment for Vladimir!
Dear SpikeTrader,Hello from cold and sunny New York. Kerry has been visiting and is just about to fly back to Alabama. We had a very enjoyable campers’ meeting and a year-end party. Most private traders are very isolated, and it feels good and productive to break through this isolation – whether by having campers’ and Spikers’ meetings or by communicating with each other in SpikeTrade.comKerry and I spent a great deal of time during the past few days planning enhancements and improvements for SpikeTrade.com. We are determined to make this the most useful website for serious traders.Let us now turn to the current market situation.
I love marketwatch! The market rises on rising oil. The market falls on rising oil. The market shrugs off the unemployment report. The market tanks on bad employment data. They always tell you why the market is doing whatever it’s doing – there is a new reason every day. This is precisely why I live without a TV set and derive my information from the best source – the reality of the charts.
Most market participants have short memories. It seems to me that the memory of an average amateur does not go back farther than two weeks. People expect the recent past to continue, which is why they happily buy near the tops and become very fearful near the lows. The pros have long memories; we know that the danger to longs is greater after a rise and lower after a decline.
The market is speaking to us – are we listening?It was a rough week for the economy. The Big Three automakers flew back to Washington to beg for money. When I was in Australia, it was front page news in every newspaper that each beggar flew in a separate private jet. I wonder how they came this time – on JetBlue?
SpikeTrade members are invited to a meeting with Alex in Double Bay. Review the markets from 6 pm to 7:30 pm, followed by a friendly dinner. Full members only (not Trials); advance reservations necessary. For location please email Alex – alex@spiketrade.com
Hello from Australia. Kerry, on a plane in the Northern hemisphere, asked me to post from here – I am at a sheep station in the depths of rural Australia. Just back from sheep shearing and just about to pick up a rifle and go for a walk. Pleease see today’s NHNL below – and also take note that SpikeTrade members are invited to a meeting in Sydney.