"It is hard to forecast, especially the future" – famously said Yogi Berra. It is much easier to write about the past, such as the bottom of the 2002 bear market having been broken. That’s what I would do if I were an analyst – write about the past. As a trader, I must look into the future – and as a Spike trader, I want to share my views with you. Let me climb out on a limb 🙂
I revised tonight’s comment about the Oscillator. TradeStation had a data correction and this did NOT close at a historic close. It did close at -359.
As mention in a recent NH_NL report, the Index Put/Call ratio is below 1 again. This recently has led to a large down day within 1 – 3 days. If this indicator continues to lead, than one should expect a 250+ point down day in the DOW the next couple days. (See chart) The last time we saw the PC ratio below 1, it remained there for four days. This was very rare. We have dropped for three days and now we find ourselves right back below 1 again on the PC. This indicates many players are attempting to pick a bottom here.
Comment: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.Kerry
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.
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.Kerry
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.Kerry
Jeff sent us an email in response to my comment on RIMM and entry preferences. Jeff makes a good point… here is the email.___________________________________________________________________________
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.
There is a lot of good information being exchanged in SpikeTrade. Yesterday I saw an exchange of emails between Jeff P, one of our long-term Spikers, and Patricia L, a Spectator. Back in July Pat had caused a bit of a stir when she announced she had a dream of buying C (Citibank) at $10. With the stock trading near $20, she took a bit of joking about her dream. Dream analysis is certainly not a standard approach to trading. Still, when a financially savvy person has a dream, it may be his or her mind trying to tell them something that cannot be heard in the noise and din of the market.Yesterday, with C just a few cents above $10, Jeff asked Pat whether she was buying now. Her response is shown below: