This week I had a couple of readers ask me to shed some light on how I look for swing trade set ups, and also a question regarding a formula for finding 10c tick change plays. Hopefully this video is of use:
Oh, as mentioned in this vid, the previous stock scanning video can be found here.
Alan
Morning all,
We after a short but refreshing break, i'm feeling revitalised and ready to tackle another year of trading.
I haven't managed to do many scans just yet, but will post some charts as soon as I get the chance. In the meantime I thought I would post a chart that I did this morning showing the disparity between the XJO and the SPX in the past 6 months or so since September. I thought this might be contributed to proposed mining tax, however scarily this was announced back in May... doesn't time fly!
I'm going to have a bit more of a look into it, but would love to hear from any readers out there as to what they think might be contributing to this unusual behaviour. Is it dollar related?
Cheers and welcome to 2011.
Kevi
Well here we go...Trading 2011. I wonder what the markets have in store for us this year. Personally I find it a complete waste of time trying to predict what will happen...let's face it noone really knows. Some will get it right and crow about it like they are market gurus. Those that get it wrong will conveniently fail to mention their prediction again.
For me I try really hard to keep a blank slate when it comes to market expectations and purely follow the price action. No expectations means no bias on your trading. Sure on a short term basis I will always ride momentum waves but longer term forget it.
U.S markets hit 2 year highs last night. The XJO 2 year high is around the 5000 mark so still well off it at the moment. With commodoties strong as well, and sectors such as Rare Earths running hot again, there are no shortage of short term opportunities.
I'll continue to ease into trading this week. Still hoping to get a few days off later in the month before school holidays end, but then it's full steam ahead!
Happy trading all!
A
