Jeff Pierce

Momentum
Jeff Pierce
Momentum
Contributor since: 2008
Great question by the way. In my head I know what I'm doing but i guess I didn't convey my thoughts properly.
I've adjusted my own trading to account for the Fed's aggressive monetary policy. I used to go short & sell my longs when my timing signal turned bearish. Now what I do is stop buying longs for the most part (at least momentum names) and start to look for names that are on my watchlist that may be taking a beating but the long term trend remains up (like TSCO LEAF GOMO).
Basically we are in an unnatural market and have to account for that. Eventually we'll get back on tract but in the meantime as a trader one has to adjust strategies to go with the flow.
Here is a trading tool to let you know when the trend is tiring. http://bit.ly/1a3Hqbt
Another strong day today for your retirement!
It certainly isn't a bullish chart!
I've given some thought to this and I think we're close to a climax bottom. That would be the scariest and best case scenario for those wanting to see the metals rebound.
The other scenario is continued weakness followed by short rallies that get sold. The death by a thousand cuts type correction that could last until 2014.
I think the first scenario is going to play out due to sentiment and momentum in the gold charts.
http://tradewithzen.com
I'm always reading 2 books at once.
Hey! Long time no see. How's the sci-fi book coming?
Outlook for next 3 months: After basing for most of 2012 this sleeping giant has awoken. Look for this to consolidate under resistance and make a run at the $11 level. If it can get above this key area this is going much higher. http://bit.ly/12M7Sbo
will it or won't it break the neckline. $USD http://bit.ly/Y4YTw4 I suspect this will surprise most and go up.
Key Levels With Downside Targets For Metals | $GC_F $SI_F http://stks.co/t2LV
Interesting to see how $GC_F found support at the exact same spot it's been. If this busts look out below. http://bit.ly/YmYCU4
$DAL has had a measure move 2nd uptrend that looks exhaustive. Buy the dips below $12. http://bit.ly/10bi6wl
Nice chart Todd. WMC needs to bounce here or it could retest the lows. 60 min chart here. http://bit.ly/VEkyZw
This will likely pull back to $10 level (breakout area) before heading higher...as long as the general market doesn't sell off. Strong chart overall.
daily chart - http://bit.ly/UJu5NW
Chris Ebert writes on http://www.zentrader.ca currently. he would better be able to answer that.
After a serious rally it's time for sirius to pause, reflect, and move lower to digest these big gains since July 1st. 6 mo chart - http://bit.ly/PdaBmR
I would expect this to pullback to $2.35-2.40 to set up another long entry. If you don't have your own timing signal, try this free trend analysis tool, where they provide a short/long term signal. http://bit.ly/NFgcya
point taken. there are always varying ways of drawing trendlines. do you connect the tails or the bodies of candlesticks. often times I'll connect both and have a range for support and resistance.
however you can't argue that it continues to make higher highs and higher lows, therefore it's trending up. At this point I'd be really surprised if we didn't take out the highs set earlier in the year on the Dow. from there it's anybodies guess.
cool. thanks for the recommendation.
one book I really enjoyed recently that I have to write a review for is "the inner voice of trading" by michael martin. check it out.
VNM may be at resistance on the daily. Previous support is now resistance. http://bit.ly/Kl1nyR
I used to follow the emerging markets more closely, but not so much these days. Was there a particular market you wanted me to look at?
Here's my take on crude. http://bit.ly/Lebfk6
Brandon,
Just got this question and I'm heading out the door. Will do a post (tonight/tom at the lastest) on zentrader and link it here for you.
Thanks for the kind words.
Jeff
Any stock that has lost 90% of it's value over the last few years is a stock that you should be staying far far away from. 2 yr http://bit.ly/LhVNCU
I always try to divert my readers from getting tied up with stocks like this as you are likely going to find yourself in the red very quickly or just have your money tied up. Sure you'll occasionally hit a big winner but they'll never make up for the losers you'll find dumpster diving.
Trade stocks with solid trends and if you are unsure of how to identify them, this free trend analysis tool may help you out. http://bit.ly/Me0aJq
$TSLA has remained above it's long term trend line therefore it is in a bullish trend. 2yr http://bit.ly/NEoaLL
As long as it stays above the $25 level it will remain a buy from a trend investor perspective. Check out this trend analysis tool if you have any questions about how to determine a trend. http://bit.ly/xbzTCm
I didn't write this article. A fellow contributor at Zentrader did.
Mental stops are the best if you can be in front of your computer daily. Volatility is changing how effective stops are.
People have been calling a bubble in bonds for years now. There is nothing new here.
Best to give this 3-5 months to build a track record to get an idea where support/resistance are.
SYY is definitely a safe choice if you want to buy a dividend paying stock but over the last 5 years this stock has basically gone nowhere. 5yr http://bit.ly/MSRdZ9
About the only way to trade this and make any money is to buy the visit to support and sell when it gets to resistance. Where we closed on Friday is essentially halfway between the support/resistance lines so buying right now doesn't make a whole lot of sense, especially with the markets in corrective mode.
SYY is a hold right now. If you don't have your own timing signal, try this free trend analysis tool, where they provide a short/long term signal. http://bit.ly/KImSg5
Even with a dividend I wouldn't recommend buying this stock when you look at this 5 yr chart. http://bit.ly/KUTIfi
Dell fell 15% last week and will likely fall under $12 with the potential to fall to single digits where strong support lies. The trend if firmly down and this is one stock to avoid until the trend changes.
If you're unsure of how to calculate the current trend of a stock or index, you may want to try this free analysis tool where they provide a buy/sell signal. http://bit.ly/JnKdAa