Relative Performance and Patience.
We’re sticking with relative performance on the daily time frame setups, and we’re patient on the day trade breaches … and it’s working out very, very well.
Archives: Daily Videos
Momentum Matters Part 2
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Canary in the Coal Mine
When the short squeeze runs out of steam, I want to focus on the canaries — the stocks that will die off first. Let’s look at XLI and BA.
Running out of Steam?
The indexes continued to trade higher today, after another news-related gap up — however, at this point I’m beginning to question that this rally will last much longer. It didn’t have quite as much steam as it did on Friday, and several key sectors were running into resistance. Our market leaders, MSFT, AMZN, NFLX, FB, and GOOGL were varied, while some tech stocks (MA, V, cloud and payment processors) were on fire and some lackluster. I view XLI and XLF as running into potential resistance, and I’m watching for the heroes and zeros — to see which can continue on the train, and which want to take a breath.
MCD and the Dow.
What was a drag on the Dow today? McDonald’s. Where are the opportunities? Imbalances like MCD often come in extreme.
Managing the Ope Trades.
The levels the market has reached recently are perfect spots to “pay yourself while you can, not when you have to,” so in that spirit, let’s get to some trade management.
Muddy Market
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