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Bought calls in GS, JPM, WFC, AMAT, and bought STLD. Apparently STLD is doing well after they reported at the close today. I didn’t know they were reporting. I normally just play the chart as is and ignore earnings. Its up close to 5% according to Yahoo. That’s a nice flip. Here are the reasons …

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1. Price is the decider – You hear Dennis Gartman saying if price is moving from the lower left to the upper right you want to be long. In a good market, its that easy. In a bad market reverse that concept. Once you understand the concept of a trend and how to tell if …

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It was late last night I was watching the futures +67 on the YM and me being heavily positioned long I was happy. I wake up this morning and it all evaporated. Then the whole morning deteriorated. I tweeted: “Same as last week…stocks opening below S2 into an oversold play…usually leads to significant bounce in …

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The bounce move up is not over, but tomorrow may look sketchy. What I’m looking for is a possible gap up and then a selloff. Often when these oversold bounces occur you get a nice bounce day (today), then you get an equal move or consolidating move of today’s move. However, after either move there …

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There is a misspelling in one my charts. I meant to say “sometimes.” These charts show that when TM gets oversold and a certain condition occurs, it should react positively. This is a trade not an investment. Its possible December calls will perform better than November, but we will see. It depends on how soon …

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