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Biotech: One More Time

Biotech: One More Time

Although I have much lower downside targets ($175 and $150), I’ve been periodically bullish about the Biotech ETF (including last week), expecting an oversold bounce… but my timing has been off. It’s always risky to forecast bounces in a bear market, because the force of fear is much greater than the force of greed. Nevertheless, once again, I’m going to this well. I believe the Nasdaq is still married to Biotech and their futures are inextricably intertwined. We can’t get a bounce in one...

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Is Crude Oil Finally Poised To Bounce?

Is Crude Oil Finally Poised To Bounce?

 March Crude Oil made another new low today as it continues its march lower. Reuters reported that Phillips 66 dumped crude oil for immediate delivery on Wednesday signaling a worsening oversupply situation in Cushing, Oklahoma. Futures responded by trading below the 27.00 level, declining to 26.22, before a short covering rally into the start of Fed Chair Janet Yellen’s testimony before the Senate Banking committee, that took price to the highs of the day. It reached 27.48 before breaking...

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Paying Attention to the Pre-Market

Paying Attention to the Pre-Market

We can all glean some good information by analyzing and interpreting action before the opening bell.  I look at many different items to determine how the day might go, to be ready for anything that is thrown at me.  Catching falling knives or buying extended markets is not my game, but if a trend is starting - even for the day - we can be quite profitable from it. First, we need to see how the overseas markets performed and if that is spilling over to our markets.  If Germany's DAX is down...

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On Longer-Term Charts, Consider Buying Dips In Gold

On Longer-Term Charts, Consider Buying Dips In Gold

Persistent weakness in precious metals has thrown a lot of traders off the trades since 2012. We admit that the pattern has been challenging to count, even though we have written about several good trade entries. This post gives a big-picture update to our Elliot wave analysis for gold futures, and it shows why longer-range traders should be looking for opportunities to buy at the dips. Prior to this writing, we had considered that the multi-year decline in gold represented merely the...

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Three Action Steps to Take During Market Panic

Three Action Steps to Take During Market Panic

With all the fear in the markets as of late, how has your portfolio fared in relation to the overall market? And should you be concerned? Recently I’ve asked this question myself for my own portfolio, especially the longer term holdings which has seen its’ fair share of market volatility. Although it is never a good feeling to see your portfolio drop in value, even if it is line with negative market performance and not any worse, the following are three questions and action steps which you...

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Day Trading Support System

Day Trading Support System

What can I say guys, we all need a little help, a little support.  Day trading is a challenging business to say the least and some days we need all the help we can get.  Those losing days can be tough and sometimes we need to seek council from someone we trust, but we need to be careful where we look for support because negative feedback can be devastating if we listen to the wrong people. Many day traders seek support from friends and family, although SOMETIMES the ones closest to us can...

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Using ETF Fund Flows to play Defense

Using ETF Fund Flows to play Defense

We are now in February and the major US Indices can now be considered in bear markets.  So, how should one position themselves for a rocky 2016?  Let’s examine where the institutional money is flowing.  Evaluating ETF fund flows daily identifies trends and major market shifts; weekly and monthly evaluations will reveal general trends.  Why?  Funds and RIAs (Registered Investment Advisors) are now using ETFs as an asset allocation model; therefore, watching these day to day movements can...

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Will Oil Prices Rise or Fall? | A 27 Year History on the Charts Tells the Story

Will Oil Prices Rise or Fall? | A 27 Year History on the Charts Tells the Story

Bloomberg says oil ($CL_F) will go as low as $10.00 a barrel whereas oil tycoon T. Boone Pickens says we could be headed for higher oil prices; no matter how you slice it, both of these sources could be right.   The market is going to do what the market is going to do, but there are solid reasons for oil prices to rise and fall, the past 3 decades has shown us this without a doubt.  There’s been a lot of talk from news sources and in the media that oil may be headed for $10.00 a barrel but...

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Trading Tactics: How to Deal With a Slump

Trading Tactics: How to Deal With a Slump

Self-realization is a good place to start in breaking a trading slump.  I know it seems obvious that when you're in a slump and trading poorly your results and account balance will reflect it.  Streaks work both ways of course, and when we are winning it is just as notable as when we are losing.  Understanding what is happening to you is awareness that may help you change some habits, which may also change your fortunes.  When in a slump I will often take a break from trading, a...

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Do You Know When the News is Wrong And Can You Trade It?

Do You Know When the News is Wrong And Can You Trade It?

Do you trade the news?  Some technical traders ignore the news, but understanding when it gets one-sided can offer extraordinary trading, especially for those who know how to read the markets.  A One-Sided Market Early last Wednesday morning, January 20th, news outlets like CNN were talking gloom and doom before the US markets opened.  The European and Asian markets were selling down hard, they said.  The markets were in dire shape.  They even had a name for the coming trading day: “Red...

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ICE Unleashes Data Fees on Futures Traders

ICE Unleashes Data Fees on Futures Traders

I’ve been receiving endless inquiries regarding the new data fee charges levied by the ICE exchange, so I felt compelled to address the issue publicly to ensure the trading community understands the situation.  Roughly a year after the Chicago Mercantile Exchange Group, better known as the CME Group, implemented their controversial data fee policy, the Intercontinental Exchange (ICE) is rolling out their own set of hefty fees levied on commodity traders.  Before we talk about the magnitude...

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What Does Yellen's Speech Mean for Stocks Now?

What Does Yellen's Speech Mean for Stocks Now?

It’s the second first full week of February and the roller coaster ride continues. The volatility in the equity markets has also shown up in the U.S. Dollar Index and FX markets. The Chinese markets may be sleeping during their New Year’s celebrations, but the rest of the world markets are alive and kicking. On Wednesday Chair Yellen gave her semi-annual monetary report in front of the House Financial Services Committee. While many observers feel that any Fed action in March is off the...

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Screaming Buy Signal On These 3 Financial Stocks: Revealed!

Screaming Buy Signal On These 3 Financial Stocks: Revealed!

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Stock Futures Plunge Again, But Day Trades Are Everywhere

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Stock Strategies - SPY, DXY, GLD, SLV, AAPL, GILD

Stock Strategies - SPY, DXY, GLD, SLV, AAPL, GILD

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Biotech Target Issued: $IBB Headed Here In Next Week

Biotech Target Issued: $IBB Headed Here In Next Week

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Insane Buy Signal On $NFLX: Make Love To The Charts

Insane Buy Signal On $NFLX: Make Love To The Charts

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