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Good evening StockBandits!
Stocks rallied hard this morning to make new all-time and recovery highs (depending upon the index), stalled out mid-day, then rolled over. The textbook downside reversal had “swan dive” written all over it, reminiscent of a cartoon character’s vertical lift from a diving board, pause at the apex, then sharp turn to the downside. [Read more…]
Good evening StockBandits!
Post-expiration today led to a bunch of nothing today with both the NAZ and S&P 500 finishing nearly unchanged on the day, less than 1 point from Friday’s closing levels. It was a choppy session in every sense of the word with no intraday runs and extremely narrow trading ranges. There were some moves though, including last night’s SSYS and [Read more…]
Good evening StockBandits!
Summer is here, temps are up, and the market is showing no signs of a slowdown yet. All parties come to an end eventually, but so far we’ve not seen this one give any indications of interest elsewhere. Last week the major averages put together solid performances to continue their lifts not only from the short-term dips of the previous week, but off their spring lows as well. [Read more…]
The market advance continued last week with new recovery highs being made across the board. Can the bulls maintain the pace in the summer heat?
As we head into a new week of trading, it’s time once again to take a look at the indexes and the key levels they’re dealing with. This will impact how individual names move, so it’s where every new trading week begins.
Hit the gear icon on the player to select HD and then go full-screen for best quality.
Run time is 5:58.
Trade Like a Bandit!
Jeff White
Take a trial to the Stock Pick Service to get my trades.
Follow @TheStockBandit on Twitter
Today’s a big day at TheStockBandit, as most 10th Birthdays tend to be. It’s been a fast decade since the site launched on June 21, 2004. During that time, I’ve had the wonderful opportunity to serve a great number of traders, perhaps you’re among them.
Today I want to thank you for your role in it, whether that has been as a subscriber or simply a reader at the site or as one who has enjoyed the hundreds of free articles and videos shared over the years – it’s all for the purpose of helping you improve, and I hope it has done exactly that for you.
The next decade might go by even faster, but I am sure excited about what the future holds for us.
I hope you enjoy your weekend, I know I’ll be celebrating!
Trade Like a Bandit!
Jeff White
Take a trial to the Stock Pick Service to get my trades.
Follow @TheStockBandit on Twitter
Good evening StockBandits!
Welcome to this week’s Charts on Demand video! Through this weekly feature, my aim is to provide you with some deeper education to improve your chart-reading skills by reviewing member-submitted charts. By staying objective and identifying areas of support, resistance, momentum or apathy on the charts, we can better determine which setups are viable plays and which may need more time. [Read more…]
Good evening StockBandits!
Prior to the Fed, stocks had spent the bulk of the session chopping around in a range and generally underwater by modest amounts. Once the news hit, that all changed. [Read more…]
Streaks. They’re everywhere all of a sudden – have you noticed?
There has been some highly unusual price action to see them so widespread, and they can be found right now on both the upside and downside.
Beyond the novelty, we have to wonder what these are saying about the current market structure. Have the bots gone crazy? Maybe, but just like the board posted beside the roulette wheel in Vegas, they don’t mean anything in terms of what’s next.
There’s still roughly a 50/50 chance that the next bar will be green or red. Fading streaks rarely pays, so don’t jump to any big conclusions about easy money once you find one. They could continue to defy gravity, or a reversal just might kick in anytime.
Here are a few stocks which are streaking right now:
FANG still doesn’t want to relent and the current advance stands at 15 straight. Shorts are in pain and longs are downright greedy into this parabolic move.
UBNT has been straight up for 12 sessions now.
GLNG is going parabolic as well as it reaches double digit days at 10 straight with no signs of letup.
NFX is working on number 13 today (also 16 of 17).
LPT has been streaking on the downside, currently working on its 9th straight decline.
The list goes on to include others like SZYM, WAGE, BCOV and others.
But what if price finally turns around, what should you expect?
No predictions here, but keep in mind the old adage the trend is your friend. Streaks which have recently been broken have not been met with sudden reversals. Take these, for example…
SMH saw 15 straight advances before it finally relented with a whopping 11c selloff. After that, it was right back on the northbound train to continue the trend.
RPTP ran 7 straight days before red returned, but that has simply set off a short-term rest just a short distance from the highs, not a downside reversal.
AMKR is perhaps the best example to show. It has had several streaks just since May, including 10 straight, 6 straight, 4 straight, and 7 straight. Each was interrupted by a little red, but in every case it was simply a temporary pause before the trend continued.
Contrarian trading can be a great approach in the markets. However, it’s usually best to employ such a strategy when price has been indecisive anyway or a key level is being approached – not when price is on a nonstop run into oblivion. Stepping out in front of the proverbial freight train for a hero trade can bury you, so pick your battles carefully.
If you want to learn more about my different trading approaches, including reversals, check out the stock trading courses. They come with lifetime access and I’ll help you directly when you need it.
Trade Like a Bandit!
Jeff White
Take a trial to the Stock Pick Service to get my trades.
Follow @TheStockBandit on Twitter
Good evening StockBandits!
The major averages painted another green bar today, but the bulls again showed some restraint in their buying efforts [Read more…]
Good evening StockBandits!
The S&P 500 finished flat as a pancake today following some intraday shifts of direction [Read more…]
