The 25K Wall Just Came Down
Hi Shoppers, It is officially official: there is no longer a pattern day trading rule or account requirement. Woohoo! This means you no longer need $25,000 to open and close a trade on the same day. You can now day trade with as little as $2000 in your account. There is just too much money […]
Why does your stop always get hit right before you’re right?
Hey Shoppers, I watched it happen in real time last Monday. A stock I've been tracking tagged a clean support level. The candle wicked down just below it, every retail stop loss in the world got filled, and then price snapped right back up. The traders who bailed felt smart for "protecting their capital." Their […]
The Trade Journal Has the Answers
Hi Shoppers, As traders, we make educated predictions using the tools we have to forecast where the market is going and when. As you know, my favorite tools are pitchforks, trendlines, and moving averages on the charts. I pair those with the Relative Strength Index and the Moving Average Convergence Divergence oscillators. For my zero […]
Two-stock setup for next week
Hey Shoppers, Two charts. Two consumer stories pointing in opposite directions. One to Love Affirm Holdings (AFRM) has been consolidating just under the resistance of the 200-day moving average: Stocks in consolidation are gearing up for their next move. Once Affirm clears $67.61, it is going to trade to $75.43 and then $79.12. Use a […]
Could the S&P really hit 7,600?
Hi Shoppers, Well, we finally made it. My husband rented a Penske from South Texas to drive our "stuff" up to Dallas/Fort Worth. Once he had the truck completely packed, he came out to the driveway to find a flat tire. Penske came out to fix it. We spent a few days in Fort Worth […]
This semi stock just printed a sell signal
Hi Shoppers, How about a chart with a double top AND a doji at the median line resistance AND confirmation to boot? That stock is our stinker this week, and it is Marvell Technology (MRVL): MRVL will trade down to the 20-day moving average at $152.52, then $147.69, and possibly $143.59. Use a close […]
Talk About Bullish
Hi Shoppers, Wow what a market!! Talk about bullish! I called $7353 but expected it to take a bit longer. But oh no Marylou, we hit $7353 on Wednesday and blew right through it! Check it out on the chart: The trend is your friend… don’t fight the trend. The S&P 500 is up 842 […]
Would I Do It Again? Hell No
Hi Traders, So I think you all know about our homelessness for the last three and a half years. Yes, you read that correctly. We sold our home in the suburbs of Chicago right after our son left for college. My plan had always been to move to Naples, FL. We had spent the last […]
Why my bearish trade just flipped bullish
Hi Shoppers, Here's where I think we're headed: 7,350 on the S&P 500 E-mini futures by next week. The bearish divergence I was watching between the Relative Strength Index and the Emini didn't pan out. We traded down slightly for two days, but my pitchfork support held every single day for the last ten sessions. […]
One AI Stock to Buy, One to Dump
Hi Traders, I am loving Tesla (TSLA) this week. It has just broken out of a box range to the upside. The Japanese call consolidation a box range. It did get stopped out at the 50 day moving average, but it is going to pop right over that and trade to the 200 day moving […]