Carl Christie has traded equities for close to half a century. Thirty-seven of those years were spent on the Toronto Stock Exchange trading floor as a market maker and professional trader. As the Chairman of the Professional Traders Association from it’s inception in 1987 until the TSX trading floor closure in 1997, he represented the trading floor by sitting on numerous TSX standing committees and trading rules committees. Since 1997 Mr. Christie has consulted with publicly traded companies in both an Investor Relations capacity and as a stock trading analyst.
MARKET SUMMARY: February 23, 2010
Stocks gave up early gains in late morning trading today as a larger than expected expected drop in consumer confidence was reported. The Conference Board said its consumer confidence index backpedaled 10.5 points to 46.0 in February; contradicting economists’ predictions for a mere monthly decline of 1.5 points.
The results added to investors’ anxiety ahead of [...]
MORE: Bear Market Trading
Whether the last 6 up days represent the continuation of the bullish trend begun last March or is merely a bounce from the sell-off begun January 20, every trader must prepare for, and expect Bear markets. They are an essential component of the investment process. They “correct” the excesses when markets experience hugely over-bought [...]
TAG OIL Inc. Update: February 22, 2010
Last week on February 16, I wrote:
“Today we experienced another run-up to close at $3.71. the high of the day and another all time high. As you can see by the chart Tag is once more trading slightly above the upper channel [RED lines]. Having closed at the high of the day I expect more [...]
This Week’s ECONOMIC CALENDAR: February 22
Monday
* No economic reports are scheduled for release today.
* Constellation Energy Group Inc. (CEG),
* Campbell Soup Company (CPB),
* Lowe’s Companies Inc. (LOW),
* Brocade Communications Systems Inc. (BRCD),
* Nordstrom Inc. (JWN),
[...]
Eliminating Trading Mistakes
Unfortunately, most traders lose money. The ones that don’t somehow manage to either break even or even turn a profit. That they accomplish this consistently poses the important question: How do they do that?
There is no magic potion. However, there are recurring fundamental flaws that stop most traders from being successful.
To be a consistently successful [...]
CLOSING MARKETS: Friday, February 19, 2010
The Dow Jones Industrial Average (DJIA :10,402.35) closed out the day up a mere 9.5 points, or 0.1%. For the week the Dow closed above both its 10-week moving average and the 10,400 level for the first time since Jan. 15, thanks to a weekly gain of 3%.
The S&P 500 Index (SPX: 1,109.17) closed [...]
The Strength of Market Leaders
The strength of any given market can usually be evaluated by the action of its leaders. These market leaders are usually widely held by institutions and their trading activity can provide insight into overall market sentiment. Weakness in this group is often a red flag. History has shown us that the markets will rarely make [...]
