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Technical traders tend to approach the market with the idea of usually following the trend. They may try trades against the trends at what are suspected edges, but generally the trend is your friend. In this section, we occasionally update our thoughts regarding the current trading thesis which affects how we are approaching the market. A thesis is the basis for a trading plan. When a thesis is proposed, it is tenative -- it may or may not actualize. What we do is monitor what takes place and adjust our trading plans as needed or scrap the thesis if it proves wrong and develop a new one.
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Written by L.A. Little
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Saturday, 18 March 2006 16:11 |
Time to Turn More CautiousWith the markets having met or are closing in on the targets as laid out in the previous trading thesis, the table is set for some disappointment. It's that time of the year when things can change. We are currently stretched from a price perspective having seen multiple days up without a rest. The real issue will be how does the rest unfold. |
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Last Updated on Monday, 30 July 2007 04:16 |
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Written by L.A. Little
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Friday, 17 February 2006 16:11 |
One More Run before Summer?When earnings started to show this year, the companies that reported were crushed. As that spread we became more defensive scaling back on our longs, taking profits where we could and shorting to some extent per our trading thesis at that time. As we approach the middle of February, the charts are setting back up in a positive fashion and we have to get in tune with that reality. |
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Last Updated on Monday, 30 July 2007 04:16 |
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Written by L.A. Little
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Monday, 23 January 2006 16:11 |
Tables TurnedThe big down day on 1/20/06 has turned the tables on this market moving the short term trend to down and the intermediate term trend to neutral at best. It no longer makes sense to try and squeeze significant performance to the upside although there remain a good number of strong charts. The more likely scenario now is a pullback that could last a good 3 weeks to a month and may result in lower lows on the intermediate term charts. |
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Last Updated on Monday, 30 July 2007 04:15 |
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Written by L.A. Little
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Sunday, 08 January 2006 16:11 |
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The new year has come to Wall and Broad and prices exploded higher as a result. We did not know if they could breach the resistance areas or not but, if they did, the thought is that they would carry for a ways as a result. Well, carry it appears now so let's look at some targets. |
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Last Updated on Monday, 30 July 2007 04:14 |
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