Jack Steiman's stock picks, trade alerts, and technical analysis for swing traders!
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Free Trading Newsletter:
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Featuring Jack Steiman
Former columnist for TheStreet.com, Jack Steiman is renowned for calling major shifts in the market, including the market top in October 2007.
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Recent Calls
Jack had 132 winning stock trades out of 206 in 2009, with an annualized return per position of +95.1%. Some recent picks include:
V +4.76%
Mar 1-Mar 8
DIOD +9.85%
Feb 26-Mar 3
DHR +3.02%
Feb 25-Mar 5
CAVM +4.4%
Feb 12-Feb 25
SOHU +4.43%
Feb 11-Mar 2
Free Trading Newsletter
- Jack's Intraday Swing Trade Alerts with Action-Oriented Trading Advice
- Detailed Guidance for each trading idea
- Technical Chart Analysis of both Stocks & Indices
- Market Timing from a Pro who called the Market Top in October 2007
- And Much, Much More!
We finally saw the market pull back some late today as those high RSI readings kicked in. It wasn't the type of selling that says the market is doomed from here because that's not likely the case at all. When markets get overbought they need to unwind so you have to look at the selling that takes place more as an opportunity rather than a -- it's all over for the market -- type of situation. Selling is never fun if you have a long bias and it doesn't take very much selling to kick fear in pretty hard. Again, greed is easy. Fear is a tough son of a gun. With the late day selling we saw some of the 60-minute charts do quite a bit of unwinding although by no means should that selling be totally over. We can try to grind higher again but upside will be very tough indeed for the very short-term. Many stocks have super strong support not too far below as they have used strong gap ups in their patterns to drive higher in the past week or so. When these stocks get b ... Read More