My two favorite indicators
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 opened stronger but soon found its high and
then generally worked its way lower throughout the day. This action has it
closing poorly. Â
Ditto for the Ps.Â
So what do we do? Well, I think the big blue arrows point the
way. If you’re not familiar with them, here is a refresher course:
Just wait for entries since the market has been correcting (i.e. pulling
back) over the last couple of days.
As far as setups, I like sectors in strong uptrends that have recently
corrected more deeply than the market itself. With that said, the Biotech HOLDRS
(
BBH |
Quote |
Chart |
News |
PowerRating) look poised to resume their strong uptrend out of a deep
pullback.Â
On Wednesday (11/30/05) at 11:00 A.M, I will be doing my weekly interactive
presentation. In addition to current market conditions, I also plan on covering
money management (i.e. risk control, profit taking) and discretionary techniques
such as damage control. Further, I’ll take your questions on trading and stocks
in general. Admission is free but limited
by the software. Email me if you need
instructions on how to join (the same each week).Â
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.