Monday, December 5, 2011

Stock Market Trading Watch List For Tuesday, December 6th, 2011

DO NOT PAY FOR AN OVER-HYPED JANUARY EFFECTS CLASS

Sorry for screaming in the headline, but it's important that you hear me!

DO NOT pay for an over-hyped class on the January Effects "trend". You will be sorely disappointed and not be able to get your money back while the lead scam artist steals plays from other services like Briefing.com and claims them as their own.

I will be either doing a class on this, or writing an article on the site, or possibly both. The class and/or the article will be FREE. Your information will not be given to a den of scam artist thieves out West where they will call you to con and humiliate you into using your HELOC or multiple credit cards in order to fund a "coaching program" that will be nothing but regurgitated nonsense that can be found on the internet for free, such as spread trading. ROFLAMOOOOO

DON'T FALL FOR THE SCAM!

Ok, so which is worse?

The fact that they consider this news, or the fact that I actually clicked on the link.

http://www.huffingtonpost.com/2011/12/02/khloe-kardashian-no-makeup-at-the-gym_n_1125732.html?ref=mostpopular

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GOOG

GOOG hitting first and second targets here, the recent highs, and the highs from the middle of February. Next up to watch would be 643 from mid January

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Another day.....

Another day, another big gap up that basically voids the price action from the previous day.

Friday's trade was weak and the close at the lows suggested some follow through to the downside.

If you watched my videos, I didn't get bearish based on Friday's action, but was concerned. Silly me. I would still love to see a pullback for a buying op.

Today, we pop open hard, even hitting a new overnight high just before the open, which was a gift for aggressive day traders/faders. Otherwise, this has been a torturous market for the swing traders who use end of day signals, which thankfully I (currently) don't.

I don't know if we rip it like Wednesday, but breadth is +2k and we are not seeing much in terms of a pullback. it could turn into a chop day as we form a high level base, but I'm going to wait for the first hour's range to be put in.

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Got the retest

The 10AM ISM Number spiked us down, but we have since regained our footing at least for now

first half hour bracket definitely one to watch today

1259 low 1263.25 upside

Basis the S&P Futures

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Let's see if we get a retest of highs

The fade didn't go very far and only worked for a scalp if you shorted the open, otherwise no dice.

Looks like we could be heading back for a test of highs, but still being in the first hour, I'm still watching for a divergence and potential short side entry

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