Today the market gapped much lower. But with the past week to two weeks rally, would we shrug off the bad news and continue to buy? Or is this a foreshadowing of a weaker market to come? The answer isn't important to an intraday trader.... and I'm learning to realize this session after session. Once the SPY broke the opening high, it trended up very cleanly towards the previous close and THAT is information that I must trade...
As I reflect on my first 18 months trading, one of my main weaknesses was my impatience to stalk important levels and wait for the tape to produce meaningful action around those levels. Below is a great example of AAPL as it puts in wonderful areas of importance. These were the easy trades I often missed. In the next few months, I plan to scout the market each day and find more of these setups and simulate them until they become...
Today's session could've been a very difficult one if you were chasing shorts after the Open. With support levels holding, it gave SPY very little room to move. Right now, we're almost at the apex of this declining wedge. Technical Analysis tells us that a hold and breakout to the upside should occur. As always, manage risk in these times and stick with stocks that have clear order flow. Below is a long and a short.
What is today's...
As of this moment, I'm no longer a member at Kershner Trading Group, but wanted to record my emotions. What a great 18 months this firm has given me! They've taught me so much; even more special, that most was not trading related. Thank you for pushing me towards my first steps as a man. #1 lesson? You work hard for every little inch you get in life... NOTHING is handed to you. Before heading out those doors for the last time,...
