Elazar was launched in 2004 by Chaim Siegel and has served famous hedge fund clientele who demand a keen understanding of drivers of individual companies and financial markets. Chaim twice worked for renowned trader Steve Cohen of then-SAC Capital (now Point72). He was also a partner at JLF Asset Management which was funded by George Soros. Previously he was one of seven analysts on a $13B mutual fund at Morgan Stanley Asset Management. Elazar Advisors publishes its research into the Reuters/Refinitiv Institutional Platform and Factset where Elazar's earnings estimates are factored into the Street earnings numbers.  Elazar's research is used regularly by fundamental and algorithmic traders and investors at some of the largest mutual fund and hedge fund managers in the world. Chaim has been a 5-Star top ranked analyst in Tesla and other big cap tech companies. Try us with a  free trial here . All investments have many risks and can lose principal in the short and l

Four Tricks From Chat How We Confirmed A Bull Market

Photo by Mike Mozart but see if you can discover through this report why we are showing you a Whopper.
Does anybody remember Friday or Monday? Goldman’s and Citron’s calls were supposed to crash markets. It’s ancient history already but there were about a million calls for a correction.

We want to review some chat quotes we had to Pro Traders on Monday in the wee-pre-market hours as we made a gameplan for the coming day.

From these quotes you’ll discover a few of our secrets how we use daily “action” to spot and confirm medium-term trends.

First What’s Action?

Action is the trading art of comparing what is “supposed” to happen versus what does happen. It's a mindset. The news isn't the only piece of information.

When you have news and reports you’d expect markets or stocks to move in a particular direction. If they are you have confirmation. If not they are telling you a powerful story that something is underlying pushing the other way.

We love to use action and Friday and Monday had big tell-tale signs of amazing bullish action.

How We Used Intraday To Confirm Our Medium Term Entry

Here's what we said on chat Monday, June 12, 2017: 6:02 AM EDT as bearish sentiment was sky high in the news and markets. Futures were looking down.

“A nice way to enter to make sure you’re not catching a falling knife is to see it move up higher than the first 30 minute range. Then see that the close closes higher than the open or not far off. This way you know the market’s not just going straight down on you.”

First, full disclosure, we did not write the chat nearly that clean. It's been mildly edited.

Let’s review the chart in relation to what we said still groggy after a few mochaccinos.

Many can tell you to buy or sell or be bullish but really to have confidence each day muscling through volatility, it takes a proper strategy, we think, short, medium and long term.

First Action Trick: Let’s first review the “30 minute range.”

We're now going to analyze our above quote.

Charts By Interactive Brokers

We were getting more bullish on NASDAQ ETF $QQQ Monday morning. As long as you saw the market not falling lower than the first 30 minutes you have a little more confidence to enter.

For QQQ it turned out that the low of the day was in that first thirty minutes. That was something we were looking for several hours previously in our gameplan.

Second Action Trick: Let’s review “closes higher than the open.”

Here you see QQQ giving you a second confirmation on Monday with the close higher than the open. The bearishness eased through the day.

Third Action Trick: Later In The Day: Boring Action Is Bullish

And for good measure we’re going to give you a third secret we said during the day.

On June 12, 2017: 2:33 PM EDT we pointed out the following,

“Slow boring follow through: bullish.”

Let's see.

We noted where we made the "boring" comment above.

The market wasn't doing anything and definitely wasn't living up to the hype of a big bearish day.

Fourth Action Trick: SPY Hardly Down, Are You Joking?

From the close on Thursday to the close on Monday the S&P 500 ETF SPY went from 243.78 to 243.36. It was down a whopping 40 cents.

Here's a Whopper.

After all of that reported "chaos" SPY was down $.40. That’s not so bad. That's a sign of "bad news" "good action." That's bullish.

For Fun, Other Elazar Quotes From Monday's Chat On Pro Trader

“Look there’s going to be a million down days. The market is so not used to having even one down day. It’s a little nuts.”

“The dip spooks people. Then it goes up. Then they miss it. Then they say [we’ll catch the] next dip and same thing.”

“These down moves have been opportunities but still you want to see the market not falling. Not falling is good. Open and close. That’s the gameplan that you can manage with a clear head.”

We had a million quotes on chat on Monday's Pro Trader, as we do most days. You can lean on us. That’s what we’re here for.

In the meantime, hope you enjoyed some of our "action" trading tricks.
Full Disclosure: I/we do not own a Whopper and have no intention of buying or selling a Whopper today or in the next week.  We were not paid to advertise this Whopper even though it looks very yummy. If you do buy a Whopper we hold no responsibility for its contents.

About Pro Trader: Pro Trader is the best way to have your arms around the markets, equities, gold, oil, stocks, news in the least amount of time. Have conviction what to do based on news, charts, pro analysis, live chat, in short sweet daily reports at the crack of dawn.

Disclaimer: Securities reported by Elazar Advisors, LLC are guided by our daily, weekly and monthly methodologies. We have a daily overlay which changes more frequently which is reported to our premium members and could differ from the above report. Portions of this report may have been issued in advance to subscribers or clients. All investments have many risks and can lose principal in the short and long term. This article is for information purposes only. By reading this you agree, understand and accept that you take upon yourself all responsibility for all of your investment decisions and to do your own work and hold Elazar Advisors, LLC and their related parties harmless. Any trading strategy can lose money and any investor should understand the risks. #in, $spy, ^GSPC, INDEXSP:.INX, CME Globex: ES

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