Friday, June 08, 2007

Trading Ideas and Tools for a Friday

* Strong Downside Momentum - I found that the number of stocks closing below the volatility envelopes surrounding their short- and intermediate-term moving averages outnumbered those closing above the envelopes by 10:1 on Thursday. We've had only 7 such occasions since 2004; on six of those occasions the market continued lower in the short-term over the next several days.

* Easy Way to Track Your Performance - This plug-in feature for StockTickr enables traders to pull trades from their account statements directly into the program for analysis and charting. StockTickr then allows you to collect metrics on your trades, journal and track your goals, and share the information with selected peer traders.

* Nice Integration of Simulation Trading - I see Advantage Futures is offering the Ninja Trader platform with free simulation trading and collection of metrics. Excellent way to build skills; even the market data are free.

* Day Trading Indicator - Kevin finds a daytrading tool in the bond-stock relationship; excellent application of theme-based thinking at a short time frame.

* Ways to Review the Market Day - I like the recaps carried by Trader Mike, with clear, annotated charts. For review of news and market stats, Between the Hedges provides fine reviews of the day. For keeping on top of market blogs, I like the link selection at Abnormal Returns.

* Reviewing the Broader Picture - The links at the Kirk Report are comprehensive and never fail to turn up an interesting perspective; I also look forward to Barry Ritholtz's weekend linkfests and daily commentary and the intermarket and economic perspectives from Mish.

* Searching for Fresh Ideas - I appreciate the fresh take on economics and markets from Jeff Miller. For stock ideas, the portfolios at StockPickr contain very interesting themes and the theme-based screening from Charles Kirk on his Member's Site offers plenty of inspiration for further investigation. CXO Advisory can also be counted upon for a fresh take on market wisdom, with a research bent.

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