No Signs Yet
On Monday, the Nasdaq gapped higher but quickly found its
high and sold off. Then, a late-morning rally gave way to choppy trading.
The S&P sold off to close poorly.
So what do we do? We’re still oversold and due for a
bounce. However, so far, the market hasn’t shown any signs of reversing.
Therefore, you might want to play both sides until the market rallies.
Also, you might want to keep it light. And, as always, wait for entries.
Looking to potential setups, for you aggressive traders,
Research In Motion
(
RIMM |
Quote |
Chart |
News |
PowerRating), in the weak telecom sector, looks poised to
continue its meltdown.
Is It Me Or The Markets?
Recently, I’ve heard that a very successful equity trader
has “had enough.” He has quit trading stocks and doesn’t have any
immediate plans to resume trading. I think this is indicative of how tough
trading has been in more recent times. So, if you are getting beat up, don’t
feel lonely.
Best of luck with
your trading on Tuesday!
Dave Landry
P.S. Reminder: Protective stops on
every trade!
“…..DAVE,
GREAT BOOK, A MUST READ FOR ANYONE INTERESTED IN SWING TRADING. WHAT I LIKE MOST IS THE FACT THAT IT WAS WRITTEN BY A PERSON WHO HAS EXTENSIVE TRADING
EXPERIENCE. THE FAKEOUTS AND FALSE MOVES SECTION IS REAL LIFE STUFF. THIS BOOK IS
SIMPLE, PRECISE AND TO THE POINT. THANK YOU DAVE……..”
MIKE A.
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