Off the Charts
"The trend is your friend." Since the Dec. 20 "Gap-and-Go" session, which ignited this rally, the trend has been to the long side, and this market is definitely rewarding those following the trend. The name of the game in 2012 is stock selection and sector rotation. Thursday's newsletter stated that if Friday's jobs number was positive, this market would be above the recent 2012 highs of $133.40, which it opened and held above Friday morning. After Friday's close, this market was entering pretty heavy overbought readings on the trading oscillator, and today's gap down helped to work off some of that current overbought reading. This market continues to be resilient Today's gap down was taken in stride, closing off the lows of the day, and stocks shined. Continue to maneuver this action and take trades when they present themselvesSPY Source: eSignal View Chart » View in New Window »
The bulk of earnings season is coming to a close over the next week, but many profitable trades have emerged in earnings stocks this season....845 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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