Still Poised For Another Leg Up?
On Friday, the Nasdaq didn’t do much. It chopped around in
a narrow range.Â
Ditto for the S&P.Â
So what do we do? I don’t
think a lot can be made about Friday’s action. I am somewhat concerned
(and aggravated) about the false breakouts and lack of follow through in many individual issues.
However, I still think the market can make another leg out of here. Therefore, continue
to focus on the long side but make sure you wait for entries.
Looking to potential setups, the
Biotech Holders
(
BBH |
Quote |
Chart |
News |
PowerRating), mentioned Thursday night, still look interesting.
Medarex
(
MEDX |
Quote |
Chart |
News |
PowerRating) had a false start out of a pullback on
Friday (a). If it can take out this high, then those “faked out”
might be drawn back in. However, avoid the stock if it doesn’t trigger.
Contest: Over $2500 In
Prizes
Thanks for all the entries. I
will continue to accept new entries until next Tuesday morning. Congrats to John
B. for being the first to answer last night’s bonus question. John, your 1-month
subscription will begin on Monday.
It’s been a while since we’ve
had some fun. Answer the following three questions correctly and I’ll enter you
in a
drawing to be held next Thursday. The winner gets a 1-year free subscription to my
trading service, 2nd place gets a free 6-month subscription and third place gets a
free 3-month subscription. The questions are:
1. What is the name of the bull
I used to have? (hint: he’s not “bull”-ish).
2. Isabelle Florence Landry was
born on what day? (hint: a milestone for the Nasdaq)
3. Trend Following _________
(hint: not genius)
Rules: Only one entry per person. Must have a valid
email address. Trading Market’s employees are not eligible.Â
Other Fine Print:Â
There is a risk of loss in trading. Past
performance is no guarantee of future performance. In case of rash, discontinue
use. Close box before striking. Objects are closer than they appear. Under 2,
consult physician. Results not typical. If you are severely overweight, consult
your physician. Do not use near fire or flame.Â
Best of luck with
your trading on Monday!
Dave Landry
P.S. Reminder: Protective stops on
every trade!
“…….I think it is certainly a “must have” for anyone interested in successful short-term
trading….”Â
John D.
No risk,
30-day, money back guarantee.
Â