The employment numbers have not been this bad since December 2001. Many times it is not the news but how the markets react to the news. This can be powerful signs.We are near the October lows and retesting this support level. With horrid news all in the press, be watchful how the markets react.It is NOT the news but the REACTION to the news.Failure to selloff on bad news is bullish, failure to rally on good news is bearish. (typically)
‘Commitments of Traders’ is a method of market analysis well known to futures traders, less so to stock traders. It is based on comparing positions of three groups of traders – hedgers, large speculators and small speculators. The person widely considered to be the most serious COT analyst is Steve Briese. After seeing his comments tonight, I asked him for a permission to quote them in full in SpikeTrdae, and he graciously agreed. Please read them below. To find out more about Briese and his work, please visit www.BullishReview.com
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, Kerry 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 these picks in a different way from the Spikers who recommended them. 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 these emails to share our research into the markets and include additional charts in our comments.
As co-managers of SpikeTrade.com, Kerry 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 these picks in a different way from the Spikers who recommended them. 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 these emails to share our research into the markets 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.
We just received this comment from Grant C.
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.
Lots of negative news out there and we opened down hug on a gap. The selling has been limited since the open and volume is extremely light.I am not forecasting a predication here but just reading the charts action. If we can these lows rejected with a surge of volume off the bottoms, we may have a chance to have an afternoon rally. If not the buyers continue to be a bidding strike and the odds increase we break thru the downside of the triangle consolidation.
As co-managers of SpikeTrade.com, Kerry 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 these picks in a different way from the Spikers who recommended them. 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.