Strategies for Short Term Traders: Locking in Gains After the Rally
Good Morning.
There are only a finite number of Game 7 Stanley Cup Finals games you will see in a lifetime. Tonight is one of them (and the Cup will stay in the U.S.!).
You should have exited the SPY and QQQ positions on the close yesterday from the rally. This morning the market is trading lower on European concerns again. Ideally, today would be a follow-through day and should the market reverse from where it is now and close higher, it will be another good sign of prices resuming their longer term trend.
The above is from Larry Connors’ Daily Battle Plan.
To learn more about the Daily Battle Plan – including access to Larry’s daily ETF trading signals, click here for more information.
Larry Connors is founder and CEO of TradingMarkets.com.