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.
Monday, May 17, 2010 SUMMARY:
Once more lingering concerns about European debt continued to negatively affect the markets accompanied by the euro’s four-year low versus the greenback, which weighed on dollar-denominated commodities like crude oil. Also disappointing manufacturing data added fuel to the bearish fire. However, in spite of these bearish factors the bulls staged a late session rally [...]
TWO Weeks of CHAOTIC MARKETS:
Wall Street professionals and average traders and investors will be excused for appearing shell-shocked coming into this week. During the past two weeks they have witnessed markets that wiped out all of the year’s gains. It matters not that the exact cause of the brief, but horrific 1,000-point plunge in the Dow Jones Industrial Average [...]
Another Wild Week:
The past 10 trading sessions have been frenetic, highlighted by the Thursday, May 6th. meltdown. The next day, immediately after last Friday’s close I wrote:
“Although the volatility is shocking, I believe this week just may have shaken many sellers out of the market and I fully expect any additional selling on Monday will meet [...]
This Week’s ECONOMIC CALENDAR: May 17, 2010
Monday
* No economic reports today,
* Lowe’s Companies Inc. (LOW),
* Agilent Technologies Inc. (A),
* SINA Corp. (SINA) will release their quarterly earnings figures.
Tuesday
* April’s building permits,
* Producer price index (PPI),
[...]
Volatility and Technical Analysis:
I don’t really consider myself a true market technician, unlike the real techies who firmly believe “the tape tells all.” However, I do spend a fair amount of time looking at charts and never make a trade without consulting them. I rely on the simple stuff like moving averages, trendlines, support & resistance, volume [...]
VOLATILITY, FEAR and GOLD:
We find ourselves on this Wednesday, May 12, having witnessed a week of extremely bizarre, wildly fluctuating markets; even today with the DOW soaring up 148 points. The question all traders and investors would like answered: “what next”?
I have confessed often to the fact that I am a simple short term trader with 50 [...]
The Big “FIX”:
After last Thursday’s huge 15 minute plunge, major exchanges on Monday agreed with regulators to bolster their circuit breakers.
Changes to circuit breakers, or temporary pauses in trading to allow buyers and sellers to collect themselves in fast-moving markets, are expected following the Securities and Exchange Commission’s meeting with the leaders of the six main exchanges, [...]
