Tuesday, July 7, 2009

Wednesday Preview

I have to tread lightly here as I do not want to give anything away before Wednesday's Barron's Online column comes out. But here are a few of the topics I am going to cover:
  1. The head-and-shoulders EVERYONE sees in the market.
  2. What I think about it (remember I was not a fan of the generally accepted definition of Golden Cross).
  3. What level on the S&P constitutes a breakdown.
  4. Ditto Nasdaq
  5. Canary in the coalmine stocks and sectors (if there is room)
  6. One or two indicators on the major indices I am watching
And just when they were thinking of bumping Brazil up to investment grade, it was the biggest loser of the major emerging markets Tuesday. Do you get the feeling everyone is looking at the market the wrong way?


joed said...

Michael, I cant wait!
What time does it come online! By the way blatenly obvious patterns scare me as do plays I initiate and then see on that tv program broadcast from Jersey City....

Quick Takes Pro said...

The column usually hits the site at 4pm Eastern.

And I think you mean Ft. Lee, NJ

Artem Dmytrenko said...

why anybody dont mension begining of earnings season... it expect good earning and it can push market really higher... but anyway its just feeling, guess game )) lets just look only to risk/reward ratio ))

Quick Takes Pro said...


You are asking why a pure technical analyst did not mention earnings - pure fundamentals.

William said...

Just read your Barron's article, good point, I didn't think about time as a factor. I guess that's why you're the CMT and I'm still working on level 2. At the risk of sounding like I'm gushing, I really enjoyed your book and it's inspired me to get involved in the CMT program, and subsequently my trading and understanding of the market has really improved. -Thanks.

patrick neid said...

The world was a easier place to make money when only a few had read Edwards and Magee....

Quick Takes Pro said...


Gush away! It is a refreshing change from the MarketWatch boards where they treat columnists like child molesters.

The CMT gives you a leg up in this business, whether you want to get a job (good luck) or trade for yourself. I was exposed to things I did not know existed and now use many of them every day.

Quick Takes Pro said...


I totally agree. Now that everyone knows so many technicals they really do not work the same as they did before.

BTW - I had the head-and-shoulders definition right out of E & M in the column but removed it during edit.