Sunday, September 6, 2009

Stock Market Video - Weekend Market Summary - 9/6/09

Hi, traders. Here's a video for the upcoming week. As has been the case recently, this market continues to lack meaningful follow-through on both the bearish and bullish sides, and at least from my swing-trading perspective, that makes things difficult. Perhaps I am focusing too much on the overall market or just out of touch with what's going on out there, but that's how I see it right now. I'll show why in the video. I also go over a few possible setups in the video but once again, none are that great and I continue to see a lack of really interesting stocks in my scans. Again, this is just what I am seeing and I can't argue with it.

If you aren't convinced by me that the market is messed up right now, look at the experts. IBD is a paper I read and believe in - they are great at what they do. But over the past two or three weeks, they have gone from labeling the market in a rally, then in a correction (8/17), then back in a rally (8/21) and now putting the rally back under pressure since Tuesday. This is not meant to disparage them - believe me, they know what they're doing. The point is that even the experts are having trouble figuring the past month or so of market action out. Something just isn't right out there.

I will be paying special attention to the financials this week because as I go over in the video, they look much more bearish than the overall market does when considering the bounce of the past two days. Perhaps that is a clue that we are more likely to head south soon than north. Nothing would surprise me however and until I see some more normal trading conditions, I will likely tread carefully with this market and trade lightly. It sounds boring, but I think it is the best advice. At least football starts this week. Take care and good luck this week.

Direct Download of Video
(Should work in IE and Firefox)

Pop Up Player for Video
(Seems to be OK now)

Sorry for all the confusion and problems with this video this weekend - hopefully the normal server will be up soon.

6 comments:

Anonymous said...

Hi Mac, thanks for doing the video. But I can not access it. Could you check the link? Thanks! Elena

Anonymous said...

The file hosting site (neebit) is down.

Mac said...

I put a new link on there that should work now until the other server gets up and running. Sorry for any problems.

Anonymous said...

Hi Mac

Could not access the file,

Elio

Mac said...

I just checked it - the link should go to a new window and the video will run there - if it doesn't work for you, try right clicking and saving the file directly.

My normal server is still not working so sorry for any problems.

Mac said...

Well, now that I check it in IE, it isn't working. I normally use Firefox and haven't had any problems. I'll keep working on it.