Wednesday, August 31, 2011

S&P 500 video for Thrusday, September 1st, 2011

Prop firms

Thankfully, the CBSX and the SEC stepped in, and made it mandatory for those scam artist backed prop firms to require licenses for all traders.

That's another nice scam down the drain for these scumbags. Thankfully

If anyone offers you the opportunity to trade at one of these firms, ask them what their cut is. They will likely lie or avoid the question. They'll blame the hurricane (even if they are in the midwest), someone being sick, or some other made up story in order to avoid the truth.

DONT BELIVE THE HYPE

If the firm is legitimate, they wil inform you that you must be licensed and they will tell you the proper procedure for getting your license.

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Taking some time

I'm taking some time off to spend with my family before my two oldest go back to school and the summer ends.

Ill try to throw something up on the blog every day so the hag can earn her 50k a year for spying.

I'll probably do the SPY video, but the Stock Market Watch List videos will be paused until the day after Labor Day.

Have a great holiday.

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Measured move hit

The measured move we've been watching for the past few days has been hit plus a little bonus for good measure


From here, we can either chop it out into the Friday or start a pullback, but I tihnk the former is more likely.

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Tuesday, August 30, 2011

Stock Market Trading Watch List For Wednesday, August 31st, 2011

S&P video for Wednesday, August 31st, 2011

Premature bears

Starting to see some short term traders shifting gears back to the downside here.

It may be a bit premature, but we'll see soon enough. I think we get at least to the measured move that I've been talking about, if not the 50 day moving average before we get a decent pullback.

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