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DOW trade now looking strong

DOW trade now looking strong

Remember the DOW trade from last week which I've been following? Today, back to normal trading volumes, the DOW finally showed some strength. It pushed up and closed at the top which is bullish. You can see where I have drawn resistance, I'm expecting prices to reach here and will take my profit below this level at 12750. I've also highlighted where the pin bar is which brought this trade to my attention. I don't particularly use indicators but you can see that MACD is starting to turn

May 29, 2012 No Comments Full Story

Nothing happens on the DOW today due to holiday

Nothing happens on the DOW today due to holiday

The trade from last week didn't do anything today. There was very low volume in the markets today as the US stock market was closed early due to a public holiday, Memorial Day. However, the price action doesn't particularly look that great! You can see the strong pinbar push up as the bulls propped up the price. The day following, some more bulls were present but since then, weakness on Friday and today, not much. However, we shall see what happens when the markets open again tomorrow.. hope

May 28, 2012 No Comments Full Story

Josh Brolin the successful Stock Trader

Josh Brolin the successful Stock Trader

I read today that Josh Brolin the actor who starred in Wall Street 2 and Goonies (yes, this is old but one of my favourite films when i was growing up) used to be a very successful day trader. In fact, he was so successful that he said that he returned just under 60% on his portfolio in 2008... pretty impressive numbers particularly as the markets were crashing at this time too. He said on an American chat show: "I use a very specific type of trading which is Pull Backs, that is what I d

May 27, 2012 No Comments Full Story

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