Subject: Thoughts and Trading Ideas for the Weekend
With all the market volatility just lately, traders seem to be rearranging
the deck chairs for something big.
Have you noticed how all the market action seems to to take place in last
30 minutes of trading? Well there's a reason for that, and here it is.
When I was trading on the floors of the Chicago Mercantile Exchange almost
every floor trader knew how the day traders were positioned. If the day traders were short and the market wasn't going down
like they had expected, the pit traders instinctively knew that they would
have to cover before the end of the day.
There's an old adage on Wall Street that bears make the best bulls and
bull make the best bears.
What this means is if you are short a market you have to buy it back to
close out your position. Conversely if you are long, you need to sell.
It's all part of the ebb and flow of the marketplace.
Speaking of the marketplace …
APPLE, GOOGLE, RESEARCH IN MOTION
Here's how we see these three Titan's of Tech.
This is Bill Whetstone,
have a great weekend and a profitable new trading week.