Thursday, July 12, 2007

 

Options University - Learn How to Trade Options Like the Pros!

Options Mastery Series 2007 Edition Special

Today at 12PM Noon EST, the Options University is re-releasing their 2007 Edition Options Mastery Series, which has sold out on each of the last two limited releases

That's because options trading is about to go 'mainstream' and you now have a rare chance to learn from one of the best in the business.

Options Mastery Series 2007 Edition Special



So let 'Today be the Day' you take the first step towards finding your personal fortune. In the coming months and years ahead, options trading may just become the hottest market around.

Will you be ready?

Here's where to go at 12PM Noon Today to find out:

Options Mastery Series 2007 Edition Special


PS - Remember, the last two times the 'Mastery Series' has sold out of all available copies, and the last time they even pulled it down early. With the Nasdaq about to start listing options, NOW is the best time in history to learn how to trade options.
-- Reserve Your Copy at 12:00 Noon, Thursday July 12th: Options Mastery Series 2007 Edition Special


 
Trading Education Tutorial
Courtesy of Nirvana Systems

Support and Resistance Levels





History Tells Us When Securites are Overbought or Oversold

Support indicates a level on the chart where we can expect an increase in the demand for a security (buyers take over). How do we know this? By identifying this reaction to this price level in the chart's history.

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Trading Ideas & Picks

J C Penney Corporation- JCP - At Support

JCP: After stock broke below the neckline of a head and shoulders pattern, the bears did indeed send the price down to the support near $70 and it will now be interesting to see if the bulls step back in and push the price back toward the neckline...

Trading Picks - Read More

 
Technical Indicators

Rate of Change

Rate of Change

The Rate of Change is an oscillator that displays the difference between the current price and the price x-time periods ago. As prices increase, the ROC rises and as prices fall, the ROC falls. The greater the change in prices, the greater the change in the ROC.

The 10-day ROC is an excellent short - to intermediate term overbought/oversold indicator. The higher the ROC, the more overbought the security; when the ROC falls expect a rally. As with all overbought/over-sold indicators, watching for the market to start its correction before placing a trade. Often extremely overbought/oversold readings usually imply a continuation of the current trend and any overbought market may remain that way for some time.

Read More...

 
NASDAQ Chart of the Day
Courtesy of Nirvana Systems




After consolidating for the past month, a reversal has formed for PAYX as indicated by the trendline break. Look for a short term run to the 42.5 level.

Daily Trading Signals

 
NYSE Chart of the Day
Courtesy of Nirvana Systems




BAX is again approaching critical resistance levels, setting up a low risk short opportunity. This resistance level provides an excellent stop loss point regardless of direction.

Daily Trading Signals

 
Daily Market Commentary
Courtesy of Nirvana Systems

Updated Wednesday, 7/11 for Thursday's market.

Key DOW Levels for 7/12

UP

Above 13,700

DN

Below 13,250


Still Consolidating...

- Dow drifts higher, still range-bound. A late day rally helped close the day near session highs, as seen in the intraday charts. Overall the Dow finished up 76 points.

- The NASDAQ and S&P closed the day with moderate gains in choppy trading. Over all the market indices continue to consolidate, looking for direction.

Summary

The Dow drifted higher throughout the day in choppy trading. Look for more range movement between 13,300 and 13,700.

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Technical Indicators

Momentum Indicator

TBy measuring the amount that a security's price has changed over a given time span, the Momentum indicator provides an indication of a market's velocity and to some degree, a measure of the extent to which a trend still holds true. It can also be helpful in spotting likely reversal points.

While the mathematics are straightforward (subtract the closing price n days ago from the closing price today), do not underrate its value because of its simplicity.

Use the Momentum indicator as a trend-following oscillator similar to the MACD and buy when the indicator bottoms and turns up. Sell when the indicator peaks and turns down. When the Momentum indicator reaches extremely high or low values (relative to historical values) assume a continuation of the current trend...

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Trading Education Tutorial
Courtesy of Nirvana Systems

Saucer Patterns





Rare Pattern Is One of the Most Predictive

One of the most predicitive chart patterns you will come across is the saucer pattern. Saucers are also referred to as "bowls" or even "rounded tops or bottoms", and one look at this pattern tells where these names are derived from. However, there is a problem with saucer patterns - they're hard to find.

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Trading Education Tutorial
Courtesy of Nirvana Systems

Double Tops and Bottoms





Waiting for the Setup to Complete Results in Profits

There are various chart patterns that help us find good reversal candidates. Of the major reversal patterns, the double top or bottom is not only one of the most recognizable, but also one of the most predictive.

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NASDAQ Chart of the Day
Courtesy of Nirvana Systems




After strong upward gap at the end of April, MSFT has met resistance forming a lower high at the end of May. A break of the critical 29 level should send this stock back to around 27 or lower.

Daily Trading Signals

 
NYSE Chart of the Day
Courtesy of Nirvana Systems




MMM is nearing the end of a well formed ascending triangle. Any penetration of the 89 level will likely trigger a run to new highs. A downside break of support around 84 could easily set off a retracement to the 77 range.

Daily Trading Signals

 
Daily Market Commentary
Courtesy of Nirvana Systems

Updated Tuesday, 7/10 for Wednesday's market.

Key DOW Levels for 7/11

UP

Above 13,700

DN

Below 13,250


Reversal from Resistance...

- Dow sells off from resistance, drops 148 points.

- From prior commentary, "...The Dow will likely test this zone very soon, which will give us a very good indication that the Dow will either remain strong or get a bearish bounce...a failure at this level will likely cause another drop back toward the bottom of the range at around 13,300..."

The Dow opened the day with a big decline from the major 13,700 resistance level today and proceeded to drop the rest of the session, as seen in the 15 and 60 Minute Charts. The Dow sold off heavily into the afternoon and eventually closed with a big 148 point loss, but more weakness is likely.


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