Here’s One Way To Stay Out Of Trouble
When the environment gets
increasingly difficult, I tend to think
of the song ‘Stop Making Sense’ by The Talking Heads. When there’s extreme
divergence in the broader averages–much like what we’ve been experiencing in
the Nasdaq and the S&P500–trading on any time frame is made more difficult.
Well, if I ain’t gonna make any cents then I’m at least going to remain
unscathed by not taking any entries until the daily chart triggers pave the way.
10:47:06
Daily/Swing Chart Setup
Caterpillar (CAT)
has formed a bear flag below key MA resistance on the daily perspective (see
attached). CAT is off .32 at 76.32, with potential daily triggers set below
76.
The stock ended up going in completely the
opposite direction after I posted this beauty. Oh well, but as Dave Landry likes
to say, ‘No Tickee, No Tradee’—and bottom line, while that bottom line remains
intact, so does your trading account’s bottom line.