Pays to watch strong/weaksectors then decide timeframe and stops
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Those of you who carried home several of the recommended longs from last week such as BIIB, CL, MCP, had a good start to the day. Then, with a relatively orderly open, we had an opportunity to get into longCELG, …
On Friday, the divergence in the market continued with DIA closing marginally higher with a marginal accumulation of volume and QQQ ending down .5% with yet another distribution day in volume. SPY closed down .1% and ended with an inside …
Key to ensuring you make more when right than you lose when wrong
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If you used the proper position sizing and risk management, many of the long picks turned out to be profitable such as ORLY which had not only an opening range reversal but also an opening range breakout, AMGN, LULU on …
The last time we saw an orange paint bar denoting a distribution phase or one in which the price trades beneath a stacked 50 and 200 day moving average, was right before Labor Day weekend 2010. And if we go …
On gap lower, especially ones under FTPs and S1 works great
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A very welcomed trading day today with the gap higher, follow-through and an opportunity take profits long the way with very little pain. But where does that leave us now? SPY closed up 1.3% but without an Accumulation day in …
Some nice setups on those that held thru the correction
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We had better than average volume today, which considering SPY was marginally up, could be perceived as a good sign. But let's not confuse this with an Accumulation day in volume. QQQ closed unchanged with light volume. And of course …