Is it time to get aggressive again on the short side?
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 Friday, the Nasdaq opened slightly firmer but soon found its
high. It then sold off for a solid trend day lower.
The Ps put in a somewhat similar performance.
So what do we do?
The fact that the indices sold off hard
from a resistance zone suggests that the big blue arrows remain intact. So is
this the all clear to get aggressive (again) on the short side?
Well, today notwithstanding, the market has been choppy lately with very
little follow through. Further, I would imagine that many traders will be
looking to get a head start soon on their 4th of July vacation. Therefore, this
could make for more thin and choppy trading. So, exercise caution.
No setups tonight.
Wednesday’s WITHOUT Dave
No chart show on Wednesday. I know, it’ll be tough without me. Hope to see
everyone on Wednesday July 5th.
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.