Hello traders everywhere! Jeremy Lutz here with your mid-day market update for Thursday, the 20th of September.
The markets have trimmed earlier losses but remain lower after reports showed jobless claims fell less than forecasted, while the Philadelphia Federal Reserve Bank's gauge of regional manufacturing activity remained sluggish. Investors are also concerned about the global economy after weak data from China and Eurozone.
Green Mountain Coffee Roasters (GMCR -7.01%) shares fell as Starbucks (SBUX +1.59%) rolled out its Verismo-branded line of single-serve coffees, along with a selection of electric brewers. Of course this product launch is directly aimed at GMCR's Keurig Machines. Is it too late for Starbucks?
Now, let’s go to the charts and our Trade Triangles and see what’s happening. Click Here to view today's video
Every Success,
Jeremy Lutz
It would be useful to understand how to access the information as to when in the future the daily, weekly and monthly TT's would be triggered. How does one do that? Thanks
I mean, not when, but at what price level.
Since our “Trade Triangles” are used to enter and exit the markets, you can anticipate when the “exiting” triangle will be issued and therefore place your stop loss values accordingly. Our algorithm is based upon various weighted factors; however one of the most heavily weighted factors is the previous three period high or low. With this said, traders can identify the highest high, or lowest low of the previous three periods (daily, weekly or monthly) as a point where the odds are high that an opposing triangle will be issued which would suggest to exit the position.
We suggest that you always use stops, but that you use a method that will best fit your objective and your trading personality. There are many methods for setting stops. We have a few posts on our Trader’s Blog that discuss these various techniques < http://club.ino.com/trading/2008/03/avoiding-the-1-equity-evaporator/>. Also on our blog we’ve shared an audio and PDF workbook from one of our INO TV authors, Joe Ross on a seminar called, “Where Do I Place My Stops?” Feel free to access the PDF workbook and audio here: http://broadcast.ino.com/workshops/INLV07RO/workshop.pdf and http://broadcast.ino.com/workshops/INLV07RO/workshop.mp3 .
Best,
Jeremy
copy that, thanks