Why I Trade Like The Weatherman
Smoke ’em If You Got ’em
Ryland Group
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PowerRating), mentioned recently(a), has moved
over 5-points higher (b) since then. When blessed with a nice quick profit like
this, make sure you lock in a piece and trail a stop on your remaining shares.
Looking to the indices, on Thursday, the Nasdaq gapped
lower but quickly found its low. It then traded back and forth but was unable to
finish in the plus column.
The S&P also found its low early. However, it was able
to close in the plus column.
So what do we do? On Thursday we saw some
follow through selling in some sectors. This action has me somewhat cautious.
Overall though, most still appear to remain in uptrends. Therefore, especially
since the indices appear to be stabilizing (at least for now). Continue to look
for opportunities on the long side. However, as always, stick with the strongest
groups and wait for entries.
Looking to potential setups, Home Depot
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PowerRating), in the
strong retail–home improvement sub-sector(a), looks like it has the potential
to rally out of a pullback.
Hate Mail Of The Day
‘A chart that does not go back to the peak of 2000 is not relevant.
We are in a sustained bear market
“However, so far, I think market momentum trumps this.” Dave Laundry
The leaders in this country are light years beyond currupt
the media (you) is complicit in this corruption which I contend is suicidal and extinctionist
the recent stock market gains are due to the unwarranted optimism and momentum chasers.
you rich market manipulators are raking in zillions while fleecing the average American of their hard earned life savings.
SHAME ON YOU
SHAME ON YOU even though you are only moderately lying compared to President Pinnochio
Still Drivel is Drivel
Go get a real job. One that does’nt HURT others.’
First, I do not try to make long-term predictions. Like the
weather man, I’m only good when looking a few days out (and admittedly, much
less accurate). Second, I would hope that everyone does their own homework. And
finally, the Nasdaq has rallied over 56% from the March lows and nearly 80%
since last October’s lows. I would imagine that you must be running some very
loose stops on your shorts. One other point, the way you spell my last name adds
a whole new meaning to the phrase “doing the laundry.”
Best of luck with your trading on Friday!
Dave Landry
P.S. Reminder: Protective stops on
every trade!
P.P.S. Learn my best swing
trading strategy in my new interactive CD-ROM. Click
here now for details.