Wednesday, August 31, 2011

Stock Market Video - Mid-Week Update - "Back to Defense" - 8/31/11

Hi, traders.   Here's the mid-week video to take you through the next two days.   I think Sunday's video set you up pretty well for this week, as we rallied Monday and Tuesday (perhaps due to some month-end window dressing) but the market looked a little tired today so I think caution is warranted here.   The Nasdaq is running into some major overhead resistance and some "leaders" looked extra weak today.   I share these observations in the video and also share some short setups worth watching at this juncture.

I hope you find the video helpful and informative.   As always, feel free to email me with questions or comments - I enjoy hearing from my readers.  If you like the videos, please take a moment to leave a review on Investimonials  

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5 comments:

Anonymous said...

Wow, I've been trading only for couple of years but I've never seen better short setups than those in your video - in my opinion many of them are close to perfect!
May be looking back we'll consider this as the moment to boost our accounts by loading on shorts.
I won't do it, though, simply because my swings haven't been working lately and I wanna see first some sustained move on the downside - even intraday.
The other reason is that we have major news coming Friday - if we get upside surprise on the jobs, Friday, the shorts would be shaken out at the least.
I may try one or two shorts tomorrow, though, - DKS being my favorite.
Great job by you in the video - although I would friendly accuse you of being too cautious declaring your bearish views
Ivan

Mac said...

Thanks Ivan. It's hard to "load up" on either side in a market as volatile like this, and my guess is that more than anything, we will continue to chop in a wide range for a while.

Anonymous said...

Great video putting things into perspective here. I'm going to check StockTwits to see if you took any of the short trades !
Many Thanks! - Steve Clem

Anonymous said...

hi mac

lets see the dow support at around 11300 (15 & 60min charts), if it can hold there, maybe the bounce continues next week.

btw, not that user friendly, u have this blog, twitter then here comes another http://www.investimonials.com/blogs/reviews-chartswingtrader.aspx

that would become troublesome to ppl (or just me) who wanna share more with u but dunno which media is the best.

mini-me

Anonymous said...

hi mac
11300 and certain bottom divs there
i will cover all shorts right now (2:10).

a choppy next week imo.

mini me