Here’s How To Prepare For The Worst
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Sometimes the best thing that you can do
for yourself is step back and look at the market in a broader perspective.
When oversold becomes more oversold, and you’re not sure which way is up, it’s
time to “hit the books” and prepare yourself with ideas that will gain
you a decided edge when the markets turn the corner.
12:51:07
Swing Trade Perspective
It’s hard to make a case for any stock as the
broader ETFs spiral downwards towards the October lows, but that’s exactly
when we need to stay prepared with a list of High RS stocks that have continued
to hold up well despite general market conditions. “When” the market
does decide to reverse course,
a stock like Amdocs (DOX)
may be one of your candidates for a long entry. In today’s action it’s going
grudgingly lower with the market, as it trades down .30 at 11.69, but look at
the chart supports and the 3
Month RS and EPR, and you get the idea that sellers might reconsider their
decisions in a stronger market, making DOX one to keep on the radar.
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With the ETFs closing in on a retest of the October lows, and volatility
levels picking up, it’s time to start preparing a list of stocks that have shown
gumption in both their technicals and fundamentals. Who knows, I made a case for
support at these levels, but if general market conditions pressure the stock
lower, we’ll be ready for well defined technical entries at better prices. Doing
your homework while buyers are playing hooky is your best way to get a good seat
at the head of the class.
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