Context is king when trading. Everyone builds context their own way. Mine is a cocktail of watching the best looking stock charts, interpreting the auction behavior with market profile on the Nasdaq and sometimes the ES, order flow or the speed and size of rotations, talking to other traders, and PPT data.
This afternoon I was suggesting we key off the “mid” or the midpoint of trade for today’s /NASDAQ session. It is a simple reference point, one rarely discussed and often overlooked. USE IT on all of your intraday assessments and thank me later.
All context matters but you have to make sure you can separate the “I feel” and “It feels like” from your assessment. Objective observation is best done through journaling measurable data like opening swing, initial balance, PPT score, etc. The sentiment is more like a caveat, and REALLY depends on who is saying it.
Then there is news. I have a love/hate relationship with news. It can blow me out of a position or it can propel me higher. The nature of news is beyond my control and rarely actionable. Ideally we know when it is released like economic data or a scheduled press conferences. For breaking news I sometimes use a squawk, but I find it very stressful and distracting so I turned it off a few weeks ago.
As we roll through the final hour of trade, we found a bid and money is rotating into some risk elements like YELP. In our current position, time favors the longs. The longer we hold last week’s sellers under water, the more heat they will feel. A dull market, you know?
Stay sharp, this also might be some sort of complacency lull before the hammer is dropped.
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Up 4% today, FTW
BOOM. Excellent work Sir Raul.
😉
thanks!
Have a day
Woot!
🙂
A no-lose strategy is long SPY short TUR
Is it?
nice little bounce in MBLY off last weeks 2 day whacking. Good start for the week..
I know, looking sweet, for a trade
Good track
fogerty was my first concert, badass
Well done Raul. We appreciate your data stream!
thanks rahagar, nice work inside the 12631
Good job filling in
thanks, it was very fun
Fly, you seem to be pushing the vegas and ppt subscription thingy alot recently… Are you in the hole and looking to raise cash?