Trailing Stops and Managing a Winner.
High class problem for sure and here’s how I do it using the Dow short from the chatroom today.
High class problem for sure and here’s how I do it using the Dow short from the chatroom today.
Being bullish in a market is the precursor to the buy. We’re getting setups firing off in /ES, /NQ, MSFT, AAPL, and V.
There is nothing I love move than a high put/call ratio and stocks near all-time highs with earnings. While the S&P may not be slanted enough, some of these stocks are. Let’s look at NYT, WING, and BOOT going into their earnings reports.
The first emotion everyone — myself included — must have had last night upon the news of the Dow dropping 500 points in the overnight session had to have been fear. However, that is why we learn — and why we teach — how to read market internals and price action. I view the market as resilient and the internals confirmed this thinking today. Let’s review the large caps, key industry groups, and high short interest stocks that are setting up this week.
Sunday night we were gauging the sell-off with the yuan and yen. Seeing those currencies level off was the first clue. Clearing Range breaks to the upside sealed the deal: It was a day to get long.
The pullback in the /NQ and /ES were close to our swing long play and energies are setting up buys as well. The Euro is still on a downward trajectory and those are the markets in focus in this update.
Let’s take a look at the Ethereum/Bitcoin ratio, and what it means for the market, and how to use it to trade.