I was wondering if you guys think the intraday behavior of the news driven listed stocks has been normal since the start of the year. The reason I ask is that I usually play just the naz news stocks intraday ....jump aboard, try to hang on for the day's move. But over the past month or so there have no extended intraday moves up or down in the nasdaq stocks. At least I haven't found any. It's been gap and trap, slice and dice etc. The net result is that after pounding the system for a month I'm down 5k. Depressing. However, since the start of the year I've noticed that I would have done well with the news driven listed stocks. I'm tempted to jump ship for the NYSE. But I'm afraid as soon as I do so the nature of the listed stocks will change on me. So having much respect for the cumulative knowledge here I ask: Has the nature of the intraday moves of the news driven NYSE stocks been unusual over the last seven weeks as compared with previous time frames? Are there some seasonal variations in behavior that I should be aware of? Will the naz return to some intraday momentum again?..... Should I just give it up and get a real job?
I know~it's getting worse and worse... even on stocks that beat earnings by a mile u'll find someone willing to dump them with both hands...look at amat, great numbers, beating by a mile on eps and revenue, yet selling activity pressurized the stock from the opening gap up and kept a tight grip on it 'till the close: EDIT: nice trap for weak longs
i find NYSE has more follow thru lately....maybe cause all the volume and hot sectores are in NYSE...metals. oils. gold. banks. etc naz stocks while still moving are not in favor..u dont hear much bout technollogy leading the market gotta follow the leaders d
keep in mind investors negative sentiment towards earnings was established as soon as the first quarterly reports were released...too many 'darling' of the naz lagging forecast or coming short of expectations, thereby the fading on positive surprises and the dumping on disappointments; nyse securities in this respect have done somewhat better.
"I find NYSE has more follow thru lately....maybe cause all the volume and hot sectores are in NYSE...metals. oils. gold. banks. etc naz stocks while still moving are not in favor..u dont hear much bout technollogy leading the market gotta follow the leaders" "keep in mind investors negative sentiment towards earnings was established as soon as the first quarterly reports were released...too many 'darling' of the naz lagging forecast or coming short of expectations, thereby the fading on positive surprises and the dumping on disappointments; nyse securities in this respect have done somewhat better." These two statements probably go a long way toward explaining what's happening. Thanx guys. I've been dimly aware of these things but I try to stay stupid so my mechanical system doesn't have to deal with I happen to be "thinking" at the time. Does this mean I may have to lift my head up and look around now and then? Concern myself with macro factors? Aww shit. The other thing I was thinking was that perhaps pre-market volume is harder to do with listed, that more of the move is saved for between the bells since it is the only time the big boys can operate. Maybe this is true only for non electronically traded listed? The more I learn about trading the larger the scope of my ignorance becomes!
Basically. Also sell on bad. But only if they show some movement in the expected direction after a certain time.
I trade both nyse and nasdaq news no problem You just need to know what to look for Lots of nasdaq issues are already over bought so when earnings come out, its not going to be up its going to be straight down because all big players are looking to sell where as in nyse, theres no huge overbought condition it goes up further because its cheap Stocks go up when they are under valued lots of nasdaq issues are over valued in percieved sense.
Well there is certainly a big divergence between the s&p and the naz on the daily since the new year. How much divergence is sustainable? I would think the charts have got to come back together at some point here. Maybe these divergences among sectors is something to consider when applying otherwise mechanical trading methods.