This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Fading Into Friday

TheStreet Premium Services

A complimentary preview
of Options-Profits Previews

WEBINAR: VIX On Five Highly Active Stocks, Weds., October 3 at 6pm ET w/Mark Sebastian and Jill Malandrino. CLICK HERE FOR INVITE AND TO REGISTER.

Tuesday was a great day to be on a plane. Rallies were being sold, dips were being bought, and in the end we were left with what could be best described as volatile chop. We've been cautious on the long side after the extreme $TRIN reading we saw last Tuesday and as it works out Tuesday's high in the S&P is still intact. With ECB rate decisions on Thursday and employment data on Friday I'll be looking for capitulation into either 1450 or 1425 and I'm looking to fade the current trend with a bearish bias into 1425.

ES Daily
Source: Trade Station


When you're faced with a market like what we saw on Tuesday where typical indicators are all over the place, use correlated markets to help with direction. Crude is a good example of a risk-on correlation and we can expect this market to be volatile with reports due out Wednesday at 10:30 AM.

CL Daily
Source: Trade Station

If crude starts to rollover, and I am looking for it to take out the September 26th lows, look for lower prices in the indexes. You can day trade around these signals and keep overnight positions light until we have more of a confirmation back to S&P 1400.

OptionsProfits can be followed on Twitter at

John can be followed on Twitter at

EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass.

At the time of publication, John Carter held no positions in the stocks or issues mentioned.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
Top Rated Stocks Top Rated Funds Top Rated ETFs