STOCK SELL SIGNAL STILL LURKING
Here are the ES and RUSSELL charts with the ADX on them. I hope readers of the newsletter have spotted the pattern that is here and also have spotted the difference between the two and which one is the better setup. If you are a client and are not sure please email me. If you are not sorry, it is not fair to them to tell everyone just dropping in about this. For those who are not I would suggest studying the ADX it can be a very valuable tool. The purpose of the Trading School section is to show people how we trade and the tools we use to do it, that is why we have covered this in a few different editions.
You can also see here that the accumulation indicator is also showing a different situation in each of these markets. I want to stress these are setups not entry patterns at this point. As I pointed out in Natural Gas the other day. That was a sell setup not a sell entry. For those who thought I was a moron when the market took off that next day I said right in the article it was not a rush in guns a blazin sell, it was a setup. It still is and is now looking like something could come along there in a few days. This is how setups are they are situations where my attention is now drawn to these markets looking for shorter term entry patterns to develop.
How you enter the trades is another matter. There was a comment made in one of the posts about specific price levels for the Russell on a bounce. I have no idea about those, I do not use Fibonacci and have made a video about why that will be in the new web site. I focus more on short term pattern setups, then price confirmations of them via price movement in the direction I am looking to drag me into trades. I don't represent that it is the perfect way to trade, I represent it is how I do it. There are pluses and minuses to every approach.
I am working on something interesting that I think lends itself well to a webinar so hopefully I can put that together so we can start taking things to another level. My website is about a day away from being turned over to me. I keep botching some of the changes in the Word Press edit mode and have to wait over night for the hoster to reset things for me, UGHH. There are two modes to be in for editing and if they have created content it requires one mode and if I have created it there is another mode. Whenever you use the wrong mode the whole thing gets messed up. Believe me running a trading business and trading are two completely different animals to say the least.
Let's be watching the Bernanke's here something is brewing with them I think in the next few days.
On a side note, I went over to a buddies place to watch the NCAA mens final, I am from Michigan originally so I was pulling for them. My buddy is a big hoops guy and my best friend is an NBA General Manager, so I follow hoops closely. It was a great game too bad Michigan lost but the best team won I think. The coach out coached Michigan's coach. Michigan had them on the ropes with the up tempo full court game and Pitino was able to slow it down which favored his team. I bring this up because one thing I always do when I am trading lousy is slow things down. I am not a fast break up tempo trader. I like to wait patiently for certain things. At times I push things in the Swing trades trying to catch a fast break and that is why our win percentage is lower in that than bonds. I am not going to do that any more. Sometimes I worry that there are not enough trades for people and they may not be happy about that. However, the bottom line is making money not the number of trades. Look for fewer trades that we stay in longer in that service.
What I hope people do with the writings here is use them to study on their own some of the things I discuss. You may well be able to use them better than I do.