Tough market for anyone trading longer then 30 minutes. That's about how long intra-day trends last. Alot of backing and filling making it tough to hold positions. Yet we find ourselves with plenty of setups in leading stocks, and a market that just won't pullback enough to make anyone comfortable even entering one position.
Personally, my opinion is we need more of a shakeout, but that doesn't mean the market might not just take off after this 2 day pullback, if you can even call it that. So you have to be ready to buy at least one thing, and only one thing if the market gaps up big one day. If the market is going to launch from here and pullback later, you're participating. Keep your stops real tight. At this stage, if the stock is going to breakout, it should just go.
Develop your own road map. No Bull Market just runs away. If not this week, then next. But you have to be prepared to make a quick decision.
If you missed my market outlook interview w/Kate Stalter from the MoneyShow.com, you can read or listen (transcripts a bit garbled)...17 (!) Growth Stocks with Bullish Charts. Don't forrget to Vote.
Personally, my opinion is we need more of a shakeout, but that doesn't mean the market might not just take off after this 2 day pullback, if you can even call it that. So you have to be ready to buy at least one thing, and only one thing if the market gaps up big one day. If the market is going to launch from here and pullback later, you're participating. Keep your stops real tight. At this stage, if the stock is going to breakout, it should just go.
Develop your own road map. No Bull Market just runs away. If not this week, then next. But you have to be prepared to make a quick decision.
If you missed my market outlook interview w/Kate Stalter from the MoneyShow.com, you can read or listen (transcripts a bit garbled)...17 (!) Growth Stocks with Bullish Charts. Don't forrget to Vote.
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