Head Fake
Patience often pays off in trading. Second entries after a fake-out move
prove profitable after the "weak hands" have been shaken out.
12:48:58
Intraday Setup Alert
The Nasdaq 100 Tracking Stock (QQQ)
is breaking above an angular triple top on the five-minute chart. QQQ is
down 0.81 to 38.54.
The stock peeks above the triple top/trendline and stalls out.
However "the second mouse gets the cheese" as a friend
of mine likes to say, when the stock moves back above the trendline.
Getting stopped out of trades is part of the game. If you let it
frustrate you, you will not be ready or will be in the "scared money"
that will not take the second entry. Learn to deal with fakeouts and shakeouts
and you will have a step up on the also-rans – the ability to maintain focus and
pull money out from what seemed to be a small loss.
Until tomorrow,
Duke