Sector Rotation
The broker/dealer index has successfully broken out of the 244 resistance on Monday and today is at its all time high, with MACD and RSI both gaining strength. Check out stocks like GS, BSC, LM, LEH.
Nasdaq, which has been lagging S&P and DOW is now finally making its climb up on higher volume and higher lows. 50MA is a strong support, while 2470 is the level to watch for resistance.
OIH is still in its downward channel, having broken a strong support @ 130 on close 2 days ago. Next level of support @ 126. So where has the oil money gone to? Most probability used to light up the fire in tech and broker/dealer sectorRandom links
-You have heard of Steven Covey's "7 Habits of Highly Effective People. Now read about "The 8 Habits of a Highly Effective Trader"
-YHOO a potential cup and handle formation?
-Tell ODA125 how you would have traded this head and shoulder formation. His shortlist of stocks for your participation (exercise only). Be thorough in your due diligence though, for there is a tester (trick) stock :)
-Talking about ETFs, I came across this on index options by thinkorswim. A little dated, but nevertheless highly educational.
posted by Simply Options Trader at 12:44 PM PERMALINK
2 Comments:
S.O.T.,
Thanks for the mention! I would also say that there just might be a couple of "nuggets" hidden there for those that really look. You are doing a great job with your site!!! Always enjoy coming to it.
Regards
No prob!I must say that those exercises you have come up with are a good way to interact with your readers , keep it up!
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