Featured Breadth Chart of the Day: We have the percentage of stocks trading above their 40 day moving average. We are now below 50% as the broader market continues to correct (which actually has been happening since about October). The pattern has made a lower lower low so let’s watch that to see if it […]
The S&P futures had a wild day of running buy stops and sell stops. After 6 straight days of sell imbalances the MIM again started out showing sells, but by the 2:45 cash close was showing a small buy. As the MiM moved from sells to buys, the E-mini S&P 500 Dec 13 (ESZ13:CME) rallied 4.5 […]
Talking Points: - UK fiscal update via the Autumn Statement this morning, 45-minutes before BoE.
All eyes are on the ECB on Thursday with the market expecting a hold on rates, although Draghi has recently shocked the markets with a rate cut so there may be more surprises up his sleeve, although perhaps from other sources of stimulus.
Carl Icahn is taking his battle with Apple CEO Tim Cook over the tech giant’s hefty cash stash directly to shareholders.
I scrolled a bit thru the MTS chat log looking for a question to answer … a topic to discuss – but nothing jumped out at me. Then I realized the crucial question none of the new traders was asking.. One thing that I still think needs repeating is that the new(er) bond (IEF.NYSEArca) and […]
Bonds and notes didn’t do us any favors Tuesday – but SPs was a nice balance. With our 1799.75 pivot and “weakness [up to 1807] seeks 1792.25” comment we came into the pit session with a nice run. The 2 green boxes were buys we tried – the first was successful, the second one was […]
The consensus on Wall Street still appears to be that the Federal Open Market Committee will refrain from announcing the first tapering of the Federal Reserve’s quantitative easing program until its March policy meeting.
Crude traders are skeptical that the accord loosening some economic sanctions against Iran in return for limiting nuclear work will lead to a surge in oil supply from what was once OPEC’s second-biggest producer.
Other Recent Articles
The MrTopStep Imbalance Meter (MiM) is fast becoming a money-making machine for the traders in our IM Pro trading room. Our not-so-little secret continues to pay big rewards on the days when the imbalance is exceedingly large – a pattern that continues to pay like our very own ATM machine. Trade what works in the […]
Tomorrow Americans have a chance to give thanks, to each other, to the country, to the opportunities this miracle of a nation affords us. Gratitude is not just nice. It is a key to sanity, to clear thinking, and to moving from thoughts of scarcity to abundance. Before you can have what you want, you […]
When Danny Riley forwarded me this essay by PIMCO (PHK:NYSE) CEO Mohamed El-Erian, it was an interesting coincidence. I had been reading LinkedIn’s “The Book That Changed Me” series by business leaders and looking for El-Erian’s. I highly recommend the series; you’ll likely find a book you love and one you want to read. El-Erian’s choice […]
[Editor's note: We were deeply moved by this letter from our friend Wes Woo. Wes lost his father this week and wrote about his life and the lessons he lived and passed on by example. Please read it and share it with friends, especially young people. And thank you, Wes and the Woo family, for […]
We shut down our “trial room” a few months ago and replaced it with the new MrTopStep Boot Camp, to give people a fuller experience of our professional trading room. The first one we did a few months ago was very successful. For one week, you get total access to our professional MrTopStep Trading Room, […]
While the stock market has seen its share of twists and turns in 2013, one sector that continues to outperform is credit card companies. In particular the two standouts, Visa (NYSE: V) and MasterCard (NYSE: MA), have made steady, robust gains all year. While the the public tends to concentrate on names like Apple and […]
With the final days of September down, October started out mixed with an “up a day, down a day” price action. The selloff really didn’t start until last week, but by the end of the week the S&P began to firm. Who could have guessed that the S&P was going to reverse ship and rally […]
Today’s dollar index trading idea comes from something Danny Riley said yesterday in the office after the close. Scanning the headlines while answering emails and messages, he said, “We look like $^#&in’ idiots around the world!” It was a hard point to argue. Myself, I put more of the blame on the House Republicans letting […]