Saturday, August 25, 2007

What's the Deal?


Guess what's making new highs.....FXI,,,along with it, as a part of FXI's components we also got CHL and LFC making new highs. There aren't that many stocks making new highs right now, so this gives a clue to what is still being bought up. Why does Fisher investments have such a large stake in EWJ (Japan) if FXI (China) is growing in leaps and bounds? Looks can be deceiving, it turns out Fisher is the largest holder in CHL, which is a large percentage of FXI as a component.

I was watching some videos over at thestreet.com, and FCX (Freeport-McMoRan Copper & Gold Inc. ) has got to be the most pumped up stock right now along with Warren Buffets new stock USB (US Bancorp). The videos on wall street confidential are some of the best trading related videos I've watched. Believe it or not I've learned a thing or two from Cramer. I don't watch Mad Money because it is geared toward entertainment, but some of the stuff on thestreet.com is pretty informative and educational. For example, Cramer's explanation of what happens on Monday following option expiration may provide an edge in picking the direction of the market open for that particular day. To be good at this game, you got to know your opponents, just like a good gambler studies there competitors. I don't listen to Cramers stock picks, but I do follow his thoughts and the market psychology he presents on thestreet.com.

What's the deal with mortgage stocks. I hear radio commercials out here in Cali all the time for Beazer, Centex, and Countrywide. Are these companies going bankrupt, or is the 2 Billion dollar stake by BofA in CFC going to make a difference?

As far as I can see, there has been no big change in the market as far as trends. China and emerging markets are still kicking butt and the home building and mortgage related stocks are still underperforming.

5 comments:

Anonymous said...

High Performance Trader,

You have a great Blog site. I spent a little time reading some of your past messages and notice you use to trade the NQ. Why did you stop trading the NQ? Is the NQ a good market to trade at this time? Are you getting more profitable trades with the ER?

Take Care,

Steven

High Probability Trader on 8:16 AM said...

NQ and ER2 pretty much trade the same, I prefer ER2 because it has a little more leverage to commission ratio. The only other futures stock index with more leverage would be the dax, but I don't like the liquidity (or lack there of) on the dax.

Anonymous said...

High Performance Trader,

Thanks for the comments. Where can I find information on the indicators and levels you use on your NYSE TICK chart? Are you using two sets of Bollinger Band or Keltner Bands and what values? I tried searching on your site but I couldn't find any information.

Thank you,

Steven

High Probability Trader on 9:05 PM said...

I use bollinger band and starc bands on my NYSE TICK chart. parameters are 1min time frame. You will have to learn how I came up with the paintbars though.

Anonymous said...

High Performace Trader,

If you don't mind me asking, what settings do you use for the Bollinger and Starc Bands? I'm not worried about the paintbars.

Thanks,

Steven

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