9 thoughts on “Afternoon Market Update (Friday 4/8/11 – Video)

  1. Well, I've entered the 52 week trade last week in oil and it didnot work out so this week maybe it will.

  2. Hi, Adam, Thank you very much for the daily videos.
    I've been a subscriber for several months now, but have not been using marketclub much beyond looking up charts when considering a new purchase, or in response to one of your traders blog videos.
    This daily video series is making me realise I should make more active use of the benefits marketclub provides.
    Thank you!

  3. Hi Adam,

    I do feel your Afternoon Videos and Weekly Thursday Market Club TV extremly useful for me.
    I hope to learn from your videos.

    With best regards

  4. Adam,

    Thanks for putting these on. They are a very helpful overview of the markets. And while i follow the TTs, I find your commentary and chart analysis very useful.

    A couple questions on the 52 week high on a Friday rule. You say that if the market "opens" lower on Monday, then sell immediately, and to sell on the "open" on Tuesday. In the stock market this is fairly straight forward. What about the futures / commodities markets, where advance trading starts the evening before? Would you wait to the main open at 9:30 or 10:30 to determine the market, or to sell on the Tuesday? Or would you sell Sunday / Monday evening? And in terms of it "opening lower" on the Monday, is there a recommended stop - for example just below the Friday close (i.e. to reduce risk of loss)?

    Also, does the same principle apply to 52 week lows, and selling short?

    Thanks again for your insight.


    1. Andrew,

      52 WEEK RULES
      Here are the three rules you need to trade "The 52-week new highs on Friday rule"

      These are the exact rules that Bill used to make millions

      Rule number 1: On a new 52-week high, when the market closes at or close to its high on a Friday, buy long and go home long for the weekend.

      Rule number 2: Exit the long position on the opening the following Tuesday.

      Rule number 3: If the market opens sharply lower on Monday, exit the position immediately.

      There you have it. These are the only three rules you need to trade with "The 52-week new highs on a Friday rule" successfully.

      "The 52-week new highs on a Friday rule" works extremely well in futures and in the Forex markets. This rule can be reversed for "The 52-week new lows on a Friday rule" if you are so inclined to trade the short side of the market. The same rules apply.

      For markets that trade on Sunday I would still use the same rules for now.

      All the best,

  5. Great chart and market review. It would really be, so beneficial for those of us using ATR's, to have the ATR line as an "on chart" overlay.

    1. Marc,

      I know many traders use ATR, but fortunately or unfortunately I am not one of them. Sorry but I am not n expert on that indicator.

      All the best.


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