Dave Landry is principal of Sentive
Trading, a money management firm, and a principal of Harvest Capital Management.
Mr. Landry is the author of two top selling books,
Dave Landry’s 10 Best Swing Trader Patterns And Strategies
Dave Landry On Swing Trading. If you would
like a free trial to Dave’s Nightly Swing Trading Alerts Report
click here or call 888-484-8220 ext.
On Friday, the NASDAQ chopped sideways throughout the morning and sold
off in the afternoon.
The Ps ended slightly lower. .
So what do we do?
big blue arrows continue to point up. Most sectors remain constructive. And, the
ones that are in bona fide downtrend are the ones you want to go down
anyway–commodity related stocks. The market is overbought and looks like it
might be beginning to pull back though. Therefore, look to short the energies
and wait for the market to pull back before looking to get long non-commodity
As far as setups, Marathon Oil Group
looks poised to resume its downtrend out of a Witch Hat like pattern (email me
if you need the rules). However, wait for an entry since it has been strong as
Best of luck with your trading on Monday!
P.S. Reminder: Protective stops on every trade!
P.P.S. If you would like a free
trial to my trading service, click