http://www.tradersnarrative.com/now-we-need-a-90-90-up-day-1235.html Freshly squeezed market commentary & analysis Wed, 17 Mar 2010 04:35:09 +0000 http://wordpress.org/?v=2.0.2 http://www.tradersnarrative.com/now-we-need-a-90-90-up-day-1235.html#comment-15506 Thu, 30 Aug 2007 16:52:27 +0000 http://www.tradersnarrative.com/now-we-need-a-90-90-up-day-1235.html#comment-15506 [...] Since the first week of the month, I’ve been waiting for a 90-90 up day, as defined by Lowry’s research. If you haven’t, make sure you follow the link to the report for all the details. [...] […] Since the first week of the month, I’ve been waiting for a 90-90 up day, as defined by Lowry’s research. If you haven’t, make sure you follow the link to the report for all the details. […]

]]> http://www.tradersnarrative.com/now-we-need-a-90-90-up-day-1235.html#comment-11501 Tue, 07 Aug 2007 05:15:03 +0000 http://www.tradersnarrative.com/now-we-need-a-90-90-up-day-1235.html#comment-11501 Today was a very mixed day internally. The breadth at the NASDAQ was actually negative, pretty amazing for such a big up day. Today certainly was not convincing at all to me. Looks like the bears keep the upper hand. Today was a very mixed day internally. The breadth at the NASDAQ was actually negative, pretty amazing for such a big up day. Today certainly was not convincing at all to me. Looks like the bears keep the upper hand.

]]> http://www.tradersnarrative.com/now-we-need-a-90-90-up-day-1235.html#comment-11465 Tue, 07 Aug 2007 04:01:43 +0000 http://www.tradersnarrative.com/now-we-need-a-90-90-up-day-1235.html#comment-11465 [...] I really like trading both stocks and futures. It keeps me occupied. Plus, I can focus on the market when I think it is going to move and I can focus on a single stock if I think it may move. Also, I can hedge my bets (e.g. short a contract but go long a stock), but it seems that more often, if I make a trade on both at the same time, I am trading in the same direction. Mostly, though, I think the benefit comes from keeping a constant eye on the futures. It gives me a feel for the market. But at the same time, watching some of these momentum stocks gives me a feel for what the futures might do. For example, if the momentum stocks are holding up while the futures are testing a low, I might go long some futures. Anyway today I couldn’t find any stocks on my list that set up nicely. I took a few trades that I shouldn’t have - they weren’t perfect setups. I really have to learn to have patience and wait for the really nice setups. I think this is my biggest problem. I really need to sit back and wait for the best setups. I’m repeating this so that I will remember. I am going to make it bold, too. Taking trades on mediocre setups is throwing money away. I’m in no rush to throw money away. So I lost some money with stocks, but I made 15+ points on the ER2 today, which was great. Some of it was due to luck, some of it to skill. So some of it was earned and some of it was unearned. Speaking of breadth, Babak had an interesting post about 90-90 days and market bottoms. Today was a nice rally, but if you check barchart.com’s market momentum statistics, you see that most stocks on the Nasdaq and Amex declined, and there were almost three times as many declining shares on the NYSE as there were advancing. But what is the importance of a share without a price? Is one declining share of a $0.50 stock the same as one declining share of a $250 stock? Does anyone know where I can see statistics or a chart of the actual value declining (# of shares multiplied by the share price) and the amount advancing? It seems like that would be more meaningful. [...] […] I really like trading both stocks and futures. It keeps me occupied. Plus, I can focus on the market when I think it is going to move and I can focus on a single stock if I think it may move. Also, I can hedge my bets (e.g. short a contract but go long a stock), but it seems that more often, if I make a trade on both at the same time, I am trading in the same direction. Mostly, though, I think the benefit comes from keeping a constant eye on the futures. It gives me a feel for the market. But at the same time, watching some of these momentum stocks gives me a feel for what the futures might do. For example, if the momentum stocks are holding up while the futures are testing a low, I might go long some futures. Anyway today I couldn’t find any stocks on my list that set up nicely. I took a few trades that I shouldn’t have - they weren’t perfect setups. I really have to learn to have patience and wait for the really nice setups. I think this is my biggest problem. I really need to sit back and wait for the best setups. I’m repeating this so that I will remember. I am going to make it bold, too. Taking trades on mediocre setups is throwing money away. I’m in no rush to throw money away. So I lost some money with stocks, but I made 15+ points on the ER2 today, which was great. Some of it was due to luck, some of it to skill. So some of it was earned and some of it was unearned. Speaking of breadth, Babak had an interesting post about 90-90 days and market bottoms. Today was a nice rally, but if you check barchart.com’s market momentum statistics, you see that most stocks on the Nasdaq and Amex declined, and there were almost three times as many declining shares on the NYSE as there were advancing. But what is the importance of a share without a price? Is one declining share of a $0.50 stock the same as one declining share of a $250 stock? Does anyone know where I can see statistics or a chart of the actual value declining (# of shares multiplied by the share price) and the amount advancing? It seems like that would be more meaningful. […]

]]> http://www.tradersnarrative.com/now-we-need-a-90-90-up-day-1235.html#comment-11441 Tue, 07 Aug 2007 03:18:42 +0000 http://www.tradersnarrative.com/now-we-need-a-90-90-up-day-1235.html#comment-11441 Ugly, no, today was very lukewarm breadth wise. Not even close. Ugly, no, today was very lukewarm breadth wise. Not even close.

]]> http://www.tradersnarrative.com/now-we-need-a-90-90-up-day-1235.html#comment-11440 Tue, 07 Aug 2007 03:06:30 +0000 http://www.tradersnarrative.com/now-we-need-a-90-90-up-day-1235.html#comment-11440 was today the 90-90 up day? was today the 90-90 up day?

]]> http://www.tradersnarrative.com/now-we-need-a-90-90-up-day-1235.html#comment-11428 Mon, 06 Aug 2007 20:07:57 +0000 http://www.tradersnarrative.com/now-we-need-a-90-90-up-day-1235.html#comment-11428 [...] 90-90 up day needed for bulls now. [...] […] 90-90 up day needed for bulls now. […]

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