Strategies for Short Term Traders: Locking in the Gains in SPY
Good Morning.
You should have locked in your gains in the SPY on yesterday’s close. We’re now at 14 of 16 winning trades for 2011 for the Daily Battle Plan Model Portfolio.
Today the market is overbought. The end-of-the month buying phenomena is again playing itself out as something which has occurred consistently since 1995 (see my book Short Term Trading Strategies That Work for our study) has become ingrained into the market place. Eventually too many people will see this and jump into it so somewhere along the way it will likely become a cat and mouse game. But in the meantime, it’s been good money for us, especially this year.
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