Earnings Announcements and Trading

THE WEEK

This past week was the start of the heavy Earnings Announcements for this quarter.  This is where my heavy trading starts to kick in for the quarter.  I am pretty stoke about this season because it the first time in many quarters I have felt the trading herd as optimistic about the Market.  Frankly, it has been a long hard year dominated by fear.  Although the US economy is still faced with inflation issues, more government debt and lack a solid work force,  I think traders are a little numb to the fears of the past year.  They are back to investing in the Market as evidence by the Accumulation Distribution data.

By now most people are aware that on Tuesday at the bell opening there was a major disruption on the New York Stock Exchange and trading on some stocks shut down for 10 minutes.  The unknown whys of the shutdown caused tension among traders and for a short time stopped the upward movement of the Market.

LOOKING AHEAD

Another week of heavy earnings announcements with many of the big hitters announcing this week. I was pretty cautious last week about trading.   I had been burned so much over the past year by quick reversals and I struggled all year to eek out decent returns.   Things look pretty good moving forward and I told myself to stop thinking like a nervous nellie.  I realized my trading strength is I don’t trade emotionally and that I see trends developing way ahead of most traders.

HOW AM I DOING?

Not so good this past week.  I actually lost a small amount $239 last week.  I spent this morning thinking about my mindset and talking to myself about what I want to happen next week.  I am reframing my brain to move forward for some good gains.