Dave Landry

Subscribe by email:

My thoughts and prayers go out to the Japanese.
After experiencing some natural disasters here in southern
Louisiana, I know that the Red Cross is a good organization:

http://www.redcross.org/

Another organization that I have seen in action is the United
Methodist Committee On Relief. 100% of all funds donated go
straight to relief efforts.
http://new.gbgm-umc.org/umcor/

I'm sure there are others. Let me know and I'll put the links up on
my website.

Join me Thursday, March 17th at 11:00 AM Eastern for Dave Landry's
The Week in Charts--a free interactive webinar.  Click below to
sign up.

https://www2.gotomeeting.com/register/710669610

See my website for last week's recording (once there, scroll down
to "recent commentary").

Got THE book?

Amazon has free shipping today (some restrictions apply) on my new
book.  Use this link: 

http://tinyurl.com/2vo395r

Not sure how all this works? Watch this intro video:

http://www.youtube.com/watch?v=_QsYImR0YTg

Got Italino?

I'll be in Milano March 25, 2011

Per maggiori informazioni:

http://www.davelandry.com/PDFs/landryborsa032511.pdf
http://www.tradinglibrary.it/corsi.php?idCorso=650


Got a Minute?

Here is today's Market in a Minute:

http://www.tradingcommentary.com/mim/mim031611/mim031611.html

Got Charts?

I use Telechart Platinum for all my US equity charting and
scanning.  Use this link for a free 14-day trial. Email me if you
would like my exact scans. 

http://www.worden.com/CURRENTAFPROMO.aspx?AFCODE=136

Random Thoughts:

What a day! The good news is that the market did not come unglued.
It reversed nicely after getting slammed on the open. This is
example of why it's important to keep you head while everyone else
is losing there's. I can't promise that they will always reverse in
these panic situations, but this is often the case. Surviving these
situations does take discipline. Obviously, it opens down and keeps
on dropping, you have to exit-no questions asked. See my website
for articles on opening gap reversals (OGRes).

Believe it or not, the Japanese ETF-EWJ closed flat and was
actually in the plus column at one point. Again, this is another
testament for keeping your head during these panicky situations.  

Overall, it wasn't nearly as bad as it could have been. 

I can't completely sugar coat things though. The market still ended
down over 1%. This action keeps the major indices (and not so major
indices) well below their 50-day moving averages. It also has the
Bowtie moving averages continuing to turn down (and in the case of
the Nasdaq crossing over). Where can you learn more about Bowties?
I'm glad you asked. Read the Layman's Guide To Trading Stocks. Too
cheap to buy it? Libraries, believe it or not, still exist. Ask
your local library to get you a copy.
 
We obviously remain in one day at a time mode. If the market comes
roaring back, then we have dodged a major bullet. If not, then
we'll start shorting. 

In the meantime, you know the routine: honor your stops on existing
positions and wait for entries on new ones. Also, for now, focus
mostly on the stronger areas that can trade contra to the overall
market (e.g. commodities). 

Best of luck with your trading today! 

Dave

Questions? Comments?  Buy my new book, read it, then shoot me an
email at dave@davelandry.com or call me at(1) 985-898-4993. 

Disclaimer:

All predictions are about the future. A lot of $#*!  can happen
between now and then. 

Information is provided for educational purposes only. 
See more disclaimers at www.davelandry.com