The Best Course Of Action For This Market
On Monday, the Nasdaq traded chopped back-and-forth in a
fairly narrow range.
The S&P sold off but was able to recoup most of its
losses.
So what do we do? Choppy and frustrating
is about the nicest thing I can say about this market. There have been a few
opportunities here and there (e.g. BBH mentioned recently) but for the most
part, this is not a market for the momentum player (notice the big blue arrow in
the Nasdaq). If you feel that you must trade, the insurance stocks have pulled
back and look like they have another leg down in them. Selected metals and
mining also look vulnerable.
No setups tonight.
Best of luck with your trading on Tuesday!Â
Dave Landry
P.S. Reminder: Protective stops on every trade!
P.P.S. Learn my newest and most advanced version of my Bow
Ties Strategy. Click
here for details.
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