August 2012
Beginner
280 pages
7h 11m
English
book
Fly Fishing the Stock Market: How to Search for, Catch, and Net the Market's Best Trades
by Stephen Morris
Content preview from Fly Fishing the Stock Market: How to Search for, Catch, and Net the Market's Best Trades
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.
GLF TRADE
A good example of losing perspective due to exuberance was my GLF trade (Figures 13.1 through 13.3 ), which did not go well for me. However, I learned many things from the interaction of longs who were panic selling, shorts who were covering, and new buyers who were jumping in with both feet.
Figure 13.1 Struggling to stay in the value zone.
GLF, daily, indicator set #8. Characteristics of the trade set-up: • False downside breakout. Impulse changed from red to blue, accompanied by a bullish MACD crossover (bar A). • Gap into the value zone, changing the Impulse color to green (bar B). • Four days of consolidation ensued (B–C). • Bullish engulfing bar closed at the high of the day on strong volume (bar C).
Figure 13.2 Rollover and retest.
GLF, daily, indicator set #8. Progress of the trade: • Stock opens and takes out the previous day’s high (bar A). I was filled at 25.20. • Prices fall out but recover the value zone at the end of the day (bar B). • Prices open and deteriorate, dropping to a new weekly low and changing the Impulse from green to red (bar C). I was stopped out at 24.59, for a 2.4 percent loss over three days.
Figure 13.3 Huge reversal bar.
GLF, daily, indicator set #8. Sequence of events following the earnings announcement: • Stock gaps ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Read now
Unlock full access
More than 5,000 organizations count on O’Reilly
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.