I wish someone had told me this years ago
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 and
>Dave Landry On Swing Trading.
If you would like a free trial to Dave’s Nightly Swing Trading Alerts Report
On Tuesday, the Nasdaq chopped back and forth in a fairly narrow range.
The range widened a bit on the Fed announcement but it went back to narrow wide range
trading going into the close.Â
Ditto for the Ps.Â
So what do we do? Some of you may have noticed that I haven’t been
writing as much lately. There just hasn’t been much to write
about from a momentum trader’s perspective. The market has changed
directions 8 times in 12 days. Most sectors have exhibited a similar choppy
behavior. As I picked up the phone to cancel my column for today, it hit
me–years ago, I
wish someone would have told me when to stay out of the market.
In fact, the more I thought about it, the more important it became for me to do a
column. The “secret” to any methodology is knowing when to back off
during less-than-ideal conditions.Â
No setups tonight.Â
Presentation On Wednesday
On Wednesday, at 11:00 A.M. Eastern, I’ll be doing my interactive
audio/visual presentation. Email me if you need instructions on how to join (the
same instructions each week) or if you need the archives for the prior year
(covering a plethora of trading topics). Admission is free but limited by the
software (first come, first serve–vise versa of a brothel).
Best of luck with your trading on Wednesday!
Dave Landry
P.S. Reminder: Protective stops on every trade!
P.P.S. If you would like a free
trial to my trading service, click
here.