Improve your trading in 2011
Take the opportunity to read the January 1 post, if you have not already done so, and send your email, which can be the first step to making 2011 your best year yet! Do it NOW…
BMO – ES +1.00 and NQ +4.50 futures are higher about 10 minutes before the open in pre-market trading and point to slightly higher open…The unemployment rate fell to 9.4%, its lowest level in 19 months…not much of a pre-market rally, so we’ll see what traders do after the open…
TLT is down 40 cents and the Euro is down 30 pips in premarket trading…this could mean lower prices on commodities gold, oil, etc…
NDX leaders AAPL, AMZN, GOOG, NFLX and PCLN are higher in pre-market trading…BIDU is slightly lower…
Dave’s Insight for Friday: Follow your rules and when Friday is over evaluate how you did this first week of the new year…
Did you buy where you were supposed to buy?
Did you hold where you were supposed to hold?
Did you sell where you where supposed to sell?
If you did on each trade, then give yourself an A+ or 10.
Setup Charts to Watch
Bull Flag Setups – SNDK, ATI, STI, NYX, CLF, SWK, AMD, DHR, JEC, ZION, NDAQ, AGU, URE, FLS, FCX, AIV, SLB, IPI, DECK, WHR
Horizontal Breakout – LVS , DE
MACD Divergence – CMG, CREE, CAKE, NFLX, CSTR, AKAM, BIDU, LDK
Bear Flag Setups –ACN, SKX
SPX
Resistance: 1,281, 1300
Support: 1,256, 1,241, 1,220
Quoting Down – MCP, GMCR, GES, CMG, AKS, POT, DHR, ICE, INFY, CTSH, FFIV, MICC, BIIB, SHLD, NTAP, ESRX, VRTX, APOL, INTU, VOD
Quoting Up – LVS, MA, HSY, BA, MOS, DE, SNDK, SPG, FCX, NETL, PCLN, AMZN, WYNN, GOOG, AKAM, COST, NFLX, FSLR, RIMM, JOYG, SNDK, QCOM, LLTC
5 comments:
Love getting this type of guidance to evaluate how we did this week.
Keep up these kinds of suggestions. They should be obvious but things like this get lost in the daily grind.
PLEASE!
Excellent AIT last night Dave thank you very much
Dave,
Please tell me that your in box in overflowing with response. It's the new year and a new me. I'm rocking this year on day 5. Lead us to financial success Dave. With your help, I'm learning the discipline.
Gary
Really liking these daily reports. Its helping me keep myself accountable and the discipline feels good. I'm excited about my growth as a trader this next year. Thanks Dave.
Brent
Brent, CR and Anony,
Thank you for the feedback. It is good to know when something I am doing is useful.
Gary,
There have been many responses and as I read through them I am gaining insight into what challenges are holding traders back. Once I am done going through them I will take specific new action to help address these challenges.
The daily suggestions and the AIT last night are the start of where I will be going this year.
While there were many responses, candidly, I am surprised that the response wasn't 2 to 5 times greater really making my inbox overflow. Why? Because I can't understand why everyone would not want to improve and why they wouldn't take such a simple step that might just work.
Oh well, those that don't do just won't reap the rewards that could be theirs.
Let's make 2011 our best trading year ever.
Dave
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