As co-managers of SpikeTrade.com, Alex and I like to select our favorite picks from among those submitted by Spikers and trade them in the week that follows. Please keep in mind that we may trade this pick in a different way from the Spiker who recommended it. Please remember that we, along with Spikers and Spectators who post their picks, are not running an advisory service – we share with you our thinking processes. You are responsible for your own picks, and you must always use good money management.In addition to a Spike pick, we may use this email to share our research into the markets with you and include additional charts in our comments.
Tuesday of this week we will have the elections and no longer have to wait and see who will be the next American President. The polls show a commanding lead for Barrack Obama and Tuesday evening we should know the results. Whomever wins, this headline sums it up. Electing the Janitor-in-Chief There is a lot of clean up that needs to be done and thus the interesting times will likely continue.
The group closed the week on a positive note with a .92% gain.Jeff won Gold with a 10.75% gain, Ross took Silver and Dave F got the Bronze.We have had some extraordinary participation from spectators. This we had 5 spectators earn 20 dollar credits.Henry A for the 3rd week straight has had 20 dollar credits earned. He is currently up 69.38% for the quarter. Ian F, Pat L, Sergey S, and Wessel de also had gains outperforming at least the Bronze medalist.Congrats to all this week’s winners!!
The FED will announce interest rate tomorrow and the market is looking for at least .50 basis point cut.
Well we keep getting saved each day from that October 10th low taken out. Everyone and their Grandmother is watching it. I thought for sure we were going to get it on Friday…but nope we hold her steady. Then I overslept this morning and after seeing Asian markets down huge again…I race to the office so I can see if we get those lows taken out this time. Whew saved again…
As co-managers of SpikeTrade.com, Alex and I like to select our favorite picks from among those submitted by Spikers and trade them in the week that follows. Please keep in mind that we may trade this pick in a different way from the Spiker who recommended it. Please remember that we, along with Spikers and Spectators who post their picks, are not running an advisory service – we share with you our thinking processes. You are responsible for your own picks, and you must always use good money management.In addition to a Spike pick, we may use this email to share our research into the markets with you and include additional charts in our comments.
We continue to work each day and week working thru the new website and ensuring we have the recent bugs exterminated. We appreciate all the feedback we have received on current issues and new features you would like to see. We add these to our database list and will be working thru this list as we grow. Please continue your feedback if you encounter an issue or simply have an idea that you feel will make the site an improved and better community for serious traders.
We just received this comment from Grant C.
I for one would have rather seen capitulation in the market this morning, but we again got saved holding right at the October 10th lows. The futures were limit down prior to the opening after most Asian markets had tumbled 10%. An all out capitulation event may have washout the panic to set us up for a significant rally next week. We’ll have to see if this saving ourselves will suffice to propel the markets forward.
With Asia markets down over 10% and Futures limit down, one would rather see real capitulation and not markets getting saved. Forced Liquidations continue to be rampant and it would be better of those that want to sell get out of the market and capitulate, otherwise we have these saving days that only inspire hope for a day or two. If capitulation could occur, we could then see a massive upside rally of historic proportions…for now everyone is hoping for a better rally to sale at better prices. I was hoping to see a huge washout of the October lows on the open…that has not occurred, but we may see it before all this is said done…the issue is when. The sooner the better and on huge volume.Personally I stick to only a few days trades and not put risk overnight as the markets continue to be panic driven and this emotion cannot be calculated.