Sticking With What Works In All Market Conditions
As the saying goes, ‘A rising tide will
float all boats.’ But, just because virtually everything is going up for one
session doesn’t mean we should drop our guard. Keeping to those stocks that have
demonstrated consistency during thick and thin is still the best to keep our
long-term edge, and keeping us at the winner’s table when everything eventually
turns back into a game of craps.
10:13:21
Early
Relative Strength
From the Nightly Daytraders
Report, Power Integrations (POWI)
has traded up to 52-Week highs in today’s trade. The intraday action has the
stock forming a triangle
with triggers thru 30.80. Current trade is changing hands at 30.65, up .98.
A nice classic intraday pattern, holding above
prior technical resistance in a market that’s ‘at its back.’ Now there’s a stock
with the extra ‘power’ that we like to see, when looking for trades with an
edge.