Tuesday, January 6, 2009

"Market Performers"

Today I saw a lot of market performing names.  By this I mean they traced the S&P.  Below are 3 charts: the SPX, XLE, and HPQ.  XLE has been "in play" and breaking out recently.  Today however it "market performed." 

HPQ on the other hand remained strong without regard to what the rest of the market was doing.  It is our jobs as short term traders to weed all the noise (market performers) and be involved in the special names.  Visit our website to learn about more tools used by Trading RM every day. 



XLE looked much like the S&P today.  The grey line represents the S&P futures.



HPQ on the other hand remained strong.  The grey line represents the S&P future.  At approximately 12:00 cst HPQ remained strong as many other sectors sold off with the market. 

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