Look At How ‘BULLISH’ These Charts Are
The charts look great! Let’s look at some.
The Nasdaq:
The S&P:
Metals & Mining:
Financials:
Software:
Internet:
Telecom:
So what do we do?
The charts speak for
themselves! They look fantastic! The market is hitting new highs for the year!
However, use caution in initiating new “longs” though since the market
is so “overbought.”
On a serious note: No new setups tonight. If you took
recent shorts such as TONS, APA, KLAC, PBR etc…, make sure you look to trail a
stop lower and look to take partial profits where offered (see my 03/28/05
column on money and position management).
FYI, I will be doing my weekly audio/visual show on
Wednesday at noon eastern. Email me if you need a link to either the live show
or the recording ( of it and prior shows).
Best of luck with your trading on Wednesday!
Dave Landry
P.S. Reminder: Protective stops on every trade!
P.P.S. Learn my newest and most advanced version of my Bow
Ties Strategy. Click
here for details.