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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 20 JANUARY: | ASX hits 11 month high | China shares rise on c.bank’s liquidity boost; EV, healthcare stocks shine |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 20 JANUARY: | ASX to rise | 3 cannabis players discuss how to view the sector through a biotech lens |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 19 JANUARY: | ASX rises 1pc | US eyes Australian market as cannabis investment fund takes stake in Lifespot Health |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 19 JANUARY: | ASX to rise, $A eases amid greenback surge | Battery sector cries out for more graphite as shortfall looms |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 18 JANUARY: | ASX to fall, global equities lower | Neuroscientific is researching a potential cure for post-COVID lung damage |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 15 JANUARY: | ASX down 0.6pc over the week | Lithium sector springs back to life amid acquisition deals and price rises | China stocks fall as consumer, liquor firms retreat |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 15 JANUARY: | ASX to rise | Wall St lifts on Biden stimulus |The potential life-changers on Tolga Kumova’s radar in 2021 |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 20 JANUARY: | ASX hits 11 month high | China shares rise on c.bank’s liquidity boost; EV, healthcare stocks shine |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 19 JANUARY: | ASX to rise, $A eases amid greenback surge | Battery sector cries out for more graphite as shortfall looms |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 18 JANUARY: | ASX sheds 0.8pc | Tietto Minerals appoints COO to drive development of Abujar gold project | China, Hong Kong stocks climb on upbeat GDP data |

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 20 JANUARY: | ASX hits 11 month high | China shares rise on c.bank’s liquidity boost; EV, healthcare stocks shine |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 20 JANUARY: | ASX to rise | 3 cannabis players discuss how to view the sector through a biotech lens |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 19 JANUARY: | ASX rises 1pc | US eyes Australian market as cannabis investment fund takes stake in Lifespot Health |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 19 JANUARY: | ASX to rise, $A eases amid greenback surge | Battery sector cries out for more graphite as shortfall looms |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 18 JANUARY: | ASX sheds 0.8pc | Tietto Minerals appoints COO to drive development of Abujar gold project | China, Hong Kong stocks climb on upbeat GDP data |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 18 JANUARY: | ASX to fall, global equities lower | Neuroscientific is researching a potential cure for post-COVID lung damage |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 15 JANUARY: | ASX down 0.6pc over the week | Lithium sector springs back to life amid acquisition deals and price rises | China stocks fall as consumer, liquor firms retreat |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 15 JANUARY: | ASX to rise | Wall St lifts on Biden stimulus |The potential life-changers on Tolga Kumova’s radar in 2021 |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 14 JANUARY: | ASX gains 0.4pc | Consumer firms drag China shares lower; Alibaba, Tencent boost Hong Kong | Azure Minerals starts accelerated exploration and resource drilling program at Andover |

    Trending Tags

    • FEEDID-6
    • FEEDID-51
    • FEEDID-44
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  • Charts
    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 20 JANUARY: | ASX hits 11 month high | China shares rise on c.bank’s liquidity boost; EV, healthcare stocks shine |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 20 JANUARY: | ASX to rise | 3 cannabis players discuss how to view the sector through a biotech lens |

    Bloomberg Chart of the Day

    Jason Sen: FX

    Cabrera Capital Daily Game Plan

    Cabrera Capital Daily Game Plan

    GMTT – chart of the day – DAX Index (Germany) – Jan 19, 2021

    GMTT – chart of the day – DAX Index (Germany) – Jan 19, 2021

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 19 JANUARY: | ASX rises 1pc | US eyes Australian market as cannabis investment fund takes stake in Lifespot Health |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 19 JANUARY: | ASX to rise, $A eases amid greenback surge | Battery sector cries out for more graphite as shortfall looms |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 18 JANUARY: | ASX sheds 0.8pc | Tietto Minerals appoints COO to drive development of Abujar gold project | China, Hong Kong stocks climb on upbeat GDP data |

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    OP: Going Up?

    OP: Going Up?

    Two Presentations Worth Watching for Tuesday

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    OP: Be the Tortoise

    OP: Be the Tortoise

    OP: Be the Tortoise

    Protected: OP: Be the Tortoise

    OP: Seeking Balance

    OP: Seeking Balance

    Danny’s Top Links – January 14, 2021

    OP: Seeking Balance

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    NYSE Holidays 2020 Stock Market Schedule

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    GMTT / Chart of the day / Apple / Oct 27, 2020

    GMTT / Chart of the day / Apple / Oct 27, 2020

    NASDOG.com: Corn, What Changed Today?

    NASDOG.com: Corn, What Changed Today?

    NASDOG.com: Stocks Getting Serious; Quick Word on Beans

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    NASDOG.com: Full For a Bull

    NASDOG.com: Full For a Bull

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How to trade the Monday Effect: Blend with the trend

MrTopStep by MrTopStep
Monday, July 22, 2013
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How to trade the Monday Effect: Blend with the trend
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ES-09-13-(1-Min)--7_21_2013There’s little reason to doubt that the Friday-Monday Effect won’t dominate market action today. For those who missed Friday’s reports, the Friday Effect says that when the market ends on a strong up move on Friday, that trend continues on Monday. The same thing often happens on the downside as well.

Asian markets have already pushed the September E-mini S&P to a new all-time high of 1694 on Sunday evening US time. Many careful observers have noticed that the Asian markets often end up defining the US opening range and overall trend. With globalization, geography doesn’t matter anymore; a lot of the traders at work while the US sleeps are Americans and others trading the Globex electronic markets around the clock. And the machines, of course, never sleep.

Does this mean we simply buy stock indices in the morning and spend the day shopping for stuff we’ll buy with our guaranteed profits? No. Beware of any “set it and forget it” trade recommendations. Even those with deep pockets who can take large drawdowns are missing great countertrend opportunities and taking needless risks. This is especially easy to do when you’re trading other people’s money.

Instead, just do this all day: blend with the trend. Don’t overthink things, don’t ask why the market is doing whatever it’s doing. Leave that to the people with nice hair and teeth on TV.

Ours is not to reason why. Ours is but to sell and buy.

Above all, don’t hold on to a losing position because you’ve foolishly decided what the market should do and insist on holding on until it proves you right. To hell with being right. We’re in this to be profitable. All traders face this choice:

  1. To indulge their egos and feel like brilliant market prognosticators, or…
  2. To make money by admitting the trend is not what they thought it would be and blending with the new trend or getting out until the new trend is clear.

Great traders make the right choice and get paid in money. Immature traders make the costly choice and get paid in emotional drama. As market wizard Ed Seykota often says, “Everyone gets what they want from the markets.”

Short the corrections if you’re feeling scalpy, but don’t try to pick tops and bottoms. Trade what I call the “fat middle,” that middle portion of a good trend when the volume has come in, the momentum is pushing it along, and, even if the stochastics say it’s overbought or oversold, the price is still moving with the trend.   Use stops at appropriate price levels. You can’t lose money taking profits. And you can always get back in with a new plan of entry and exit. Don’t chase the herd.

Blend with the trend. Always. Keep an eye out for the 10-Handle Rule and use stops. If you can avoid “irrational exuberance” this week, you can profit from the wisdom in this simple rhyme: the trend is your friend till the end, when it bends.

That’s why you must blend with the trend.

  • It’s 8 a.m. and the ESU is up 2 handles at 1691.50; crude is up 61 cents at 108.66; and the euro is up 38 pips at 1.3181.
  • In Asia, 9 out of 11 markets closed higher (Shanghai Comp +0.61%, Hang Seng +0.25%, Nikkei +0.47%).
  • In Europe, 8 out of 12 markets are trading down  (DAX -0.07%, FTSE -0.29%).
  • Today’s headline: “World Stocks Approach New Highs on Abe’s Win”
  • Total volume: 1.15mil ESU and 5.3k SPU
  • Economic calendar: 8:30 AM Chicago Fed National Activity Index; 10 AM Existing Home Sales; 11am T-Bill Auctions
  • Fair value: S&P 168.89 (+3.86); NASDAQ 3038.18 (+7.82)
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