What a difference a day makes in our book of trades and where are we in the expectation for more follow-through? I cover that as well as how to use the monthly and daily relative performance to keep tabs on corrections and entries as well as keeping the watchlist we work from up-to-date.
If you still have your analysis pointing to more downside (I do) and you are looking for shorts, consider relative performance laggards. Those names are just a step behind everyone else rallying this in “bad news is good news” environment.
A recap of levels, targets, and trades that are wandering from their zone and how I am handling it. Seeing how the decisions are made is part of the learning curve of the game. I also walk through the gap setup from this morning.
The production cuts in crude oil could not beat the hype and crude oil is trading lower because of it. Classic “buy the rumor and sell the news” scenario. Once we have a narrative on a market and can confirm it with the trend and technicals, we can start to look more broadly at other markets it will impact.
What are the levels I am looking at for targets? How do I decide what they are? Why is it time and trend? We discuss all that and more as I review recent alerts and entries.
