Market Update Toronto 2 spots left / New York still open New High New Low 2 nd edition Specials

Transcription

1 Books & Trades #220 October 16, 2014 Market Update Toronto 2 spots left / New York still open New High New Low 2 nd edition Specials Dear Friend, Books & Trades sent out on September 25 was titled The Twin Towers market. The sell signal that was shown in that letter, was elaborated in a follow-up letter on September 29. That update pointed out to severe overhangs in several popular stocks: AMZN (was at $323 when the letter went out, hit $293 this week), LNKD (was at $213, hit $188), and TSLA (was $247, hit $217). I believe that the New High New Low Index is the best leading indicator of the stock market, but the raw index alone is not enough. The precise multi-level way we analyze it each day in SpikeTrade.com puts us and our members a big step ahead of the crowd. Today I am happy to announce that the 2 nd updated edition of the e-book New High New Low Index has been released and is available (see more information on it below). Now let s see what NH-NL is telling us today. Click here to enlarge this chart (only when you re online) On the weekly chart, S&P stabbed below its channel and moved back inside positive. The channel is hard to see on this chart, so I highlighted it with a short dashed line. Notice a similar occurrence in October 2012, which led to a rally.

2 On the daily chart, on Thursday it flashed a Spike Bounce signal, as the 20-day NH-NL crossed above its minus 500 level. This is a short-term buy signal. The severe decline of the stock market was led by a rapidly sinking Russell index (small caps). On Wednesday we saw a change of character, as Russell outperformed the S&P. It got even stronger on Thursday. You can see the last few bars of the Russell, shown as dark insets, both on the weekly (left side) and daily (right side) charts. I saw this strengthening yesterday, while working at the Virgin Atlantic lounge, and that prompted me to continue covering my shorts while waiting for a flight to New York. The current chart patterns suggest that the decline has hit support. They do not tell us whether we re going to have a V-bottom or a double bottom. I ve been receiving s from several advisors who were bullish a month ago and now those geniuses call for a 20% decline from the current levels. It looks like they may be wrong again. I am not sure how strong this rally will be perhaps not very strong but what I do anticipate is a great increase in volatility, compared to what we had in summer. Not a bad time to be day-trading, as long as you know how to do it (not a beginners game!). To receive charts and analyses in the format you see above, on a nightly basis, take a Trial membership in SpikeTrade.com Workshops We re scheduling day-long intensive trading workshops in several major cities. Each will focus on the latest methods, applied to the current markets. Group size is limited to give everyone a chance to ask questions. We ll work from 10 am to 5 pm, and you ll be invited to lunch by Dr Elder. Dinner is optional. You ll receive a complimentary autographed copy of The New Trading for a Living. To follow up on the class, you ll receive free access to the next two sessions of our monthly webinars (a $140 value). Please click on the links below for information. Take advantage of our low Early Bird rates. or call our manager if you have any questions. November 9 Toronto, Canada. This workshop, limited to 30 participants, has just about sold out only 2 spots are left. December 7 New York City. The Early Bird special rate has been extended to October 31. January 17 near Amsterdam, Holland. The Early Bird special rate has been extended to December 1. The New High New Low Index 2 nd edition of e-book Today we re happy to announce the release of the updated edition of this important e-book. It I completely dedicated to teaching you how to master and use the most important leading indicator of the stock market. If you already bought the first edition of this book from elder.com, please log into your account and download the 2 nd edition at no charge.

3 If you bought the first edition from SpikeTrade.com, please log into your account there and download the 2 nd edition at no charge. If you bought the first edition elsewhere, please send proof of purchase to [email protected] for a free upgrade If you haven t bought this book before, do it now, and you ll be receiving free upgrades in the future, for as long as this book is being updated (once every year or two). New books now in stock & shipping We offer you the latest word in trading at a special introductory price. Trading for a Living was published in 1993 and became the best-selling trading book of all time. You may remember that the last sentence in that book was I continue to learn and reserve the right to be smarter tomorrow than I am today. Now, for the past 18 months Dr. Elder has been working on a major upgrade of his original book. What started out as a modest update has turned into an almost complete re-write to make the book useful not only for the new readers but especially for those who ve read Trading for a Living. The new book, with its vastly expanded content and full-color current charts, lets you benefit from what a serious trader learned during the past 22 years. The best-selling trading book of all time updated for the new era The New Trading for a Living updates a modern classic, popular worldwide among both private and institutional traders. This revised and expanded edition brings time-tested concepts in gear with today's fastmoving markets, adding new studies and techniques for the modern trader. This classic guide teaches a calm and disciplined approach to the markets. It emphasizes risk management along with self-management and provides clear rules for both. The New Trading for a Living includes templates for rating stock picks, creating trade plans, and rating your own readiness to trade. It provides the knowledge, perspective, and tools for developing your own effective trading system. All charts in this book are new and in full color, with clear comments on rules and techniques. The clarity of this book's language, its practical illustrations and generous sharing of the essential skills have made it a model for the industry often imitated but never duplicated. Both new and experienced traders will appreciate its insights and the calm, systematic approach to modern markets.

4 The New Trading for a Living will become an even more valuable resource than the author's previous books: Overcome barriers to success and develop stronger discipline Identify asymmetrical market zones, where rewards are higher and risks lower Master money management as you set entries, targets and stops Use a record-keeping system that will make you into your own teacher Successful trading is based on knowledge, focus, and discipline. The New Trading for a Living will lift your trading to a higher level by sharing classic wisdom along with modern market tools. Test your trading knowledge and skills without risking any money You may read the best trading book, but how much of that knowledge will you retain a week later? This is why you need this Study Guide for The New Trading for a Living. It'll give you a firmer grasp of the essential trading rules and skills. This Study Guide, based on the bestselling trading book of all time, was created by its author to help you master the key points of his classic book. The Study Guide's 170 multiple-choice questions are divided into 11 chapters, each with its own rating scale. They cover the entire range of trading topics, from psychology to system design, from risk management to becoming an organized trader. Each question is linked to a specific chapter in the main book, while the Answers section functions like a mini-textbook. It doesn't just tell you that A is right or B is wrong it provides extensive comments on both the correct and incorrect answers. This Study Guide also contains 17 charts that challenge you to recognize various trading signals and patterns. Everything is designed to help you become a better trader. Consider getting two books as a package the Study Guide and The New Trading for a Living. They're designed to work together as a unique educational tool. The Study Guide for The New Trading for a Living is a valuable resource for any trader who wants to achieve sustainable market success. The New Trading for a Living: list price $80 / amazon $68 / our intro offer $59 autographed to you The Study Guide for the New Trading for a Living: list price $45 / amazon $31 / our intro offer $29

5 The complete set: book and Study Guide: list price $125 / amazon $99 / our intro offer $84 Best wishes for successful trading from all of us at elder.com Dr. Alexander Elder & staff