Monday, October 03, 2011

Smart Money versus Dumb Money

SP500 Major Support Levels

First I don't have a new buy-long or sell-short stock pick this week as I don't see any low-risk high-reward trades at current time. If 1101.54 gives way on the SP500, I suggest selling short into the break, and look for major support at 1085.21 to 1076.33. If things really get bloody below 1076.33, then start looking for major support at 945.86 to 936.37.

Profiting From Trade Triangles

In the meantime, I suggest taking advantage of the MarketClub promo trial above, and check out their auto-scan trade triangles for stocks, forex, and commodity futures. Triangle chart formations normally continue with a breakout in the same direction of the primary trend and can be quite explosive in a short amount of time giving you the chance for quick fast profits. As always, use stop-loss in case the market reverses on you along with money management trailing stops to lock-in profits. Good luck this week.

Smart Money versus Dumb Money

We often hear the term "Smart Money" in the investing world. It refers to big banks, trading desks and hedge funds with highly trained traders, trading systems and lots of trading capital. Likewise "Dumb Money" is the everyday trader that has found a way to consistently buy high and sell low and they let fear/greed control their trading, dwindling trading accounts and confidence.

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