Thursday, March 08, 2007

March 8 daily chart




I placed no trades today, ER2 was too choppy and simply didn't move how I thought it should when ES moved lower after the 10:30 reversal. Today I'm glad that I will have the time to work on my trading strategy. I made a video from today, but the market was so dull I decided it wasn't worth watching again and deleted it.
Tommorow has a lot of eco. #'s out, so volatility should be better.

Today's readings:
headlinecharts - gives a good look at how commodities are fairin.
chrisperruna takes a look at human psychology when trading
Interview of NYSE SCALPER on stocktickr, the best interview I've read about a real intraday stock trader.
CNBC.com Take the million dollar portfolio challenge (last I checked I was in the top 5%, but still way off the leaders who had about a 48% increase in there portfolios)
Securities Class Action Filings -When I was thinking about trading stocks for CNBC's million dollar challenge, I looked for stocks with class action lawsuits as a way to find good shorts, however, I read CNBC's rules, and I can't short stocks. Even though I can't use this strategy on CNBC, it is still a good trading idea I think if you are a swing trader.
hamzeianalytics He looks at the McClellan Oscillator for the NYSE as a way to see overbought and oversold areas in the stock market.

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