In the late 1980âs, when the Japanese management style was all the rage, an image that was repeatedly shown on TV was that of groups of Japanese traders standing in a room at the Tokyo Stock Exchange and doing jumping jacks before the opening of the market. Always at the beginning of the trading years, the phenomenon was prominently shown on television networks and discussed on morning business and news shows. It extended over to many American workers doing jumping jacks in clusters in such places as parking lots. This rather wordy beginning leads to a point. Iâm not suggesting at traders do a ton of jumping jacks eight minutes before the open to get the blood flowing (although it is not really a bad idea). However, there is a correlation between profitable trading results and traders who have disciplined routines much less undertake some preparation before the opening bell rings. All else equal, I wake up around the same time each workday morning. I do some light preparation for the day from home (checking foreign markets and the top business stories overnight, et al). Then, I arrive at work at almost the exact same time every day. From there, I dig into my research, earnings searches, blog typing, and so forth. If I arrive, say, an hour late, I feel anxious and find myself totally unprepared as I rush to get everything done. Now, not everybody needs the structure that I for one crave and follow, but the other extreme are the people who come in with no preparation at random times. Typically, these type of traders nearly haphazardly âeven randomly- put some trades on just after the bell, lose a little, and then spend the rest of the day scalping to try and (usually fruitlessly) put some money in their pockets. So, make it a resolution to simply follow a general routine and study up on the main stories of the dayâ¦and follow it daily. Reiterating-If the whole story is not there - If something is good, assume either a short thru unchanged or an A-B-A2 based on direction of the market unless specifiedIf something is bad, assume either a buy thru unchanged or an A-B-A2 (preferably to the downside in a downside market and the upside in an upside market) based on direction of the market unless specified- Good- The following stocks have good news and/or a strong technical pattern DRYS- very strong along with dry bulk index on Friday GHM- closed near a high; looking for momentum thru 12.76 AEH- closed near high; looking for buy thru Fri 12.35 high RIG- closed near high; looking for momentum thru 52.32 Fri high SOLR- closed near a high; looking to buy thru Fri. 3.65 high LMDIA- strong Friday; looking to buy thru 19 Fri high NIHD- closed near high; looking for A-B-A2 thru 21.48 Fri high Bad-The following stocks have bad news and/or a weak technical pattern SNH- suffered a weird reversal in uptrend; looking to short thru 16.38 Fri low CNMD- warned on its outlook NAV- warned on its outlook Earnings: MON JAN 5 BEFORE NAV MON JAN 5 AFTER MOS Good luck today. Erik R. Kolodny
buy everythign you can\ buy oil, uso, fxi, ewz, fslr, bidu, goog, rimm, aapl, ma, v, pot, mot short the dollar, go long the Euro
Short the dollar, eh? Yet more foolish advice from the king of it. I made a killing shorting the Euro today.
Continue to buy oil (gsci oil nyse) Etn US0 (united states oil fund) VGenx (Fund) XLE (energy sector SPDR) And a few other key Energy plays. I'm not day trading but Im sure one could. Adding to positions, longer term 1 to 5 years out and swings.