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Can't see much upside Friday as long as Rita lurks in the Gulf Uncertainty will hold prices down - sell any rallies. Once the full effects of Rita are known, then there could be some upside potential.

From a techincal point of view, I can see a bounce off of a good resistance level on the IWM chart. But I am more interested in fundamental reasons that technical.

I've always been amazed at the poor quality of posts here.

I use a simple approach to investing. Trying to pick market bottoms makes no sense. Instead, i prefer to wait patiently and watch for signs of strong movements, up or down. When such a move becomes obvious, then I'll catch the wave and surf it. Bottom line: it's better to react to...

We got our oversold bounce today. What reason is there for more upward movement? What incentive is there right now for buyers? If earnings reports continue to be good, then it would create buying. But high energy prices and hurricane damage could keep earnings down. If the hurricane...

The current trend for oil is down, due to decreasing demand. Also, OPEC is meeting on Monday and may announce increased production. Going long on oil could be a high risk trade, imho.

The S&P is not volatile enough for my tastes. Trading the ES is....boring. I trade the Russell 2000 (ER2) index instead of the S&P The Russell really moves and is a great trading vehicle, imho. For example today the S&P and the Dow were both up about .8% today. But the Russell was up...

Bingo

The goal of your activity should be to relax and NOT think about trading. Do whatever activity fosters that approach. I personally like golf & hiking. cheers,

same problem here I'm readly to close a trade for a profit and can't. very frustrating

Hammer on the oil daily chart could indicate a bottom. The low for the day tagged the lower band, another bullish sign. Careful: oil is EXTREMELY volatile right now.

lets see.. The world markets are secretly controlled by sinister banks. Those evil banks are controlled by an elite international group of Zionists. And the Zionists are discretely directed by aliens using mind control. The only question is.. WHO CONTROLS THE ALIENS??

I'm predicting an up day on Tuesday. Oil prices are heading lower. Bonds and the Dollar have stablized. S&P back above 50 ema And on the day after Labor Day the Dow is up 8 of last 10

The Friday before Labor day is historically bullish. But I think the markets could go down. The dollar has gone down very hard the past couple days. Obviously the world banks think Katrina has hurt Americas economy.

Despite the S&P's impressive performance, I've noticed the TRIN index closing above 1.00 for the last 8 sessions. Is the July rally getting exhausted or consolidating for the next run up? Any thoughts?

I would have to agree that this appears to be bullish The trend looks well defined on the QQQQ\IWM chart

Ripley, stop watching your account balance and focus on what your charts are telling you. Watching the money is a huge distraction.

I always watch the Dow Jones Financial index (DJUSFN) It's a good way to measure how the market reacts to any sort of economic news. Use a 5 minute chart with 9/18 EMA's and SlowSto (14,3) and RSI (20) I also watch the TRIN to measure sentiment. 5 minute chart with 10/33 EMA's. The...

This does bring up a good point.. Every trader should have a well thought out disaster recovery plan. A predefined 'circuit breaker'. That is, if you lose a certain amount in a given day, then its mandatory that your trading is stopped for the rest of the day. This gives you a 24...

If I ever lose 10 trades in a row, I'm quitting day trading and getting back into the Information Technology business!