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Tradermike Declares Market Insane

Filed under: Online Stock Trading - 13 Jun 2007

stock-trading-0613071.jpegI’d have have to agree with Tradermike, “this market is insane!” The action today is due to quadruple options witching week, and nothing more. I’m definitely not complaining. Volatility is a trader’s best friend.

My sixth sense has been on high voltage the past few days, so I’m starting to become extra cautious. There’s no way I can post every market turn here, but I’ve been spot on lately. I covered oil shorts, and went long just at the correct time. I’m expecting more upside tomorrow, so we’ll see how that goes.

oih-0613071.jpg

OIH faked out the bulls who bought the buy signal. If you were once bitten, twice shy, would you have bought today? It’s thin, but DIG was a big winner today.  Selloff next week after prices are pinned?

2 Comments »

  1. Comment by Shauna Cayll

    Hello,
    I’m so thankful I found your website. You do a great commentary
    keep up the great work. I find it very helpful to my trading.
    FYI: I found you through Googleing and trying to find what happened to Jeff Cooper. I had his service on Real Money for years and then suddenly I was notified that he was no longer there. For months I have been trying to find where he went. Finally, it lead me to your web site because you mentioned him.
    I’ll check out Minyanville ASAP Thanks Mike,
    Shauna

  2. Comment by Online Stock Trading

    Hi Shauna,

    Thank you. I appreciate that. Nice to see another Cooper fan. Yes… I ‘m happy to see him writing again, and joining the Minyanville team. His Gann work is amazing.

    Happy trading!

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