Simply Beautiful
When trend days, or even trend mornings develop, the simple pullback can many
times be the daytrader’s best friend. A stock in a strong trend exhibits a
tendency to thrust, pause and then pivot back in the direction of the underlying
trend. On the TradersWire this morning, we have seen several examples of
this behavior, and when they occur, these are excellent opportunites to pull
profit out of what is a difficult and frustrating market for buy-and-holders and
intermediate-term traders.
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The beauty of this simple strategy is that when stocks develop a
strong intraday trend, they will perform this action more than once, giving the
observant speculator ample opportunity to get in if they miss the first one.
Keep scrolling the intraday charts and you will find plenty of spots to make
hay, whether it is to the upside or riding a waterfall downward.