TFNN « The Novice Bear

Ken Shreve Interview

5 08 2008

One of my favorite things about Mondays is the interview Tom O’Brien has with Ken Shreve from Investors.com. This week was particularly informative as Ken talked about follow-through days, new and old market leaders, and general markets trends.

I love how Ken emphasizes how not every follow-through day results in a new rally. Ken points out that new leadership must appear and the simple fact is that there are very few IBD style stocks out there that are worth buying right now puts this particular follow-through day into question. Don’t give up however. New buys will start showing up sooner or later.

Be sure to check out my webinar with Craig Shipman of Blocks. One of the things I will cover is how to use Blocks to scan for stocks breaking out of sound bases.

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Tags : IBD, Investors.com, Ken Shreve, TFNN, Tom O'Brien
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Short Price Projections (CTAS)

18 06 2008

Entering a trade is only half the battle. You always need an exit strategy.

The preplanned exit is especially important when you short a stock because the short covering rallies can be fast and furious. Here is my plan for CTAS, which I shorted last month. I like to use the ABC pattern as a way to determine a price target. Basically, I take the point difference between the A and B point and then subtract that number from the C point, giving me a target. I learned this method from Tom O’Brien and I’m amazed how well it works.

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Tags : CTAS, short, TFNN, Tom O'Brien
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Trader Psychiatrist

29 05 2008

I’m fascinated by studies where that try to find something in common between all of the great traders. It always seems to be a strange combination of controlling risk while at the same time tolerating high risk. Yesterday, Tom O’Brien interview Ari Kiev, who used to be a sports psychiatrist and now advises traders. Ari has some interesting insights into what makes successful traders successful.

Tom O’Brien interviews Ari Kiev