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Pain and fear are the dominant mass emotions at market bottoms. Most people quickly withdraw from pain, which is why market bottoms tend to be sharp and not long-lasting. Greed is the dominant emotion at market tops – it is much more smudged and less defined emotion than fear, which is why tops typically take time to form. That process can take longer than expected, but eventually a rise in sales sends the market down, reducing bulls’ confidence.Well, let’s look at our charts…
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Congratulations to Nick V in New York on his latest Gold, which lifted him into a Silver position for the current quarter. You’ll enjoy reading Nick’s logical write-up, with very clear charts.Half-way through the quarter, Igor D maintains his Gold spot; 11 out of 15 Spikers are positive.Controlling risk is essential for our survival and success. Spiker Steve S, a frequent winner of Golds, had an unlucky week, with the instrument he traded going against him over 10%. But because of his cautious trade sizing, he lost only 2% and his account remains positive for the quarter. If you are going to lose in a trade, that’s the way to do it.
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Hello SpikeTraders,Today’s post comes later than usual. Since it was supposed to be Kerry’s day, I sat outside without a phone, smoking a cigar and reading news from Ukraine. Coming back, I saw a msg from Kerry who was having a problem with his software.One of several advantages you get from having two guys run this service is that you never depend on a single person. Kerry and I always back each other up.And so, let’s look at our charts…
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Hello SpikeTraders,Today the market celebrated a release of Consumer Price Index (CPI) which suggested that inflation may be abating. It had a pretty wild party on a pretty thin piece of news – but of course the reaction of the market is more important than the news itself.Let’s take a look at our charts…
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Congratulations to Spiker Igor D in Estonia on his latest Gold, which vaulted him into the lead of the Spiker group for the current quarter. I am always curious where and how people get their ideas which stocks to follow, and Igor offers a curious example. Notice that it wasn’t a hit-and-run trade; Igor kept trading his newly-found candidate for nearly two months and still holds a partial position.
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Hello SpikeTraders,Yesterday the S&P rose above June and July highs, but today it rested. Let’s take a look at today’s charts…
Hello SpikeTraders,On Tuesday the S&P gave a bit hope to the bears when it failed to surpass Monday’s high but took out Monday’s low (see inset on the chart below). Today bulls returned, opened the market on a slight upgap, and then drove it relentlessly higher. Let’s take a look at our charts…
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Hello SpikeTraders,Last week, S&P stayed flat on Monday, dropped into its value zone on Tuesday, and from there erupted into a powerful rally, closing at a new high for the month. Let’s take a look at our charts…
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Congratulations to Spiker Steve S on winning his latest weekly Gold. A quick look at the lists of winning Spikers and Members this weekend shows that even during a bullish week bears did very well. Gold and Bronze went to Spikers who traded short. Five out of 25 Members with Performance bonuses also traded short. Spiker David C earned 2+% trading long in ARKK, while Member Michael F (a repeat winner of Bank Robbery award) earned a Performance bonus with a 4+% gain shorting that same stock. I’ve often said before that trade management is more important than the trade you pick.
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Hello SpikeTraders,Today the market opened flat, dropped a bit on unfavorable economic news but then turned and rallied to a new high since June. Let’s take a look at our charts…