Well, that didn’t take long did it… 3 days to be exact… from meeting Market resistance to breaking out in a mere 72hrs - oh how I love this game of Wall Street Monopoly.
Normally when I move to cash, it’s for good reason… whether it’s in February 2018 or September 2018, just prior to the market meltdowns, I personally find a cautious approach has served me very well these last 12 months… it allows me to both maximize profits and also protect capital (which is ALWAYS the number 1 priority) - and I guess this is what the game is all about - and it’s a game I teach very well.
If we accept the market can provide us with incredible actionable information, and if we accept Technical Analysis plays a vital role in today’s Wall Street decision making (I’m guessing Algorithms are programmed for key Technical levels) - it just makes sense to me that Technical Analysis should be at the forefront of our decision making.
A wise man once told me… Fundamental Analysis tells us what to buy, and Technical Analysis tells us when to buy, and that has always resonated with me.
I must confess however… that I still only have a 10% eye on Fundamentals (I observe Earnings reports), and even then, I’m using Technical Analysis to take advantage of the opportunity Earnings reports provides us.
2 Days ago, I provided a thesis that if we got a break out in the QQQ’s - we would likely see Tech advance nicely… what did we get… yup… you guessed it… we have more gains in Tech, and as usual… making sure to be on the correct side of the market.
So what does this mean Sam?
I’ll tell you what it means… it means the green arrow is reasonably likely to move toward the next green arrow (unless we get a failed move - which I have to add at this point would be VERY bad) - but let’s think positively - we like positive vibes around here - especially when you watch your clients make 10s of thousands of dollars… we all like taking Buy positions in the market - but ultimately, it’s having the knowledge and the wherewithal (I think I’m using this word correctly - I heard it once in an Eminem song many years ago and liked it a lot) to allocate risk in the correct areas.
Don’t take positions in stocks that are moving 1% per week… look for the 10% movers and the strength… it might be why I have such a successful group… we identify the strength DAILY…. let me say that again…. WE IDENTIFY STRENGTH DAILY - would you rather be part of a little clueless group… or would you rather educate yourself AND be part of an incredible group of Traders and have LIFETIME ACCESS?
Many of my clients are trading defensive stocks (and doing well)… others are being aggressive and taking advantage of the current market strength (they’re also doing incredibly well) - so no matter where you are allocating risk at the moment… I only hope you’re identifying the strength, and racking up those profits… because it’s been a beautiful couple of months, and the weight of the evidence is now also pointing to further upside… so when we have strength showing itself to the up side… we want to be participating, and we don’t want to be sitting on stocks that are going nowhere fast. Don’t be the sitting duck waiting to have your head ripped off.
You all know by now that I log every official trade idea I post to my client group, so that everyone can see what I do… and the kind of quality I provide… it’s not just that I understand the overall market, but I also understand optimal entries, and I also understand what represents gambling… I’m not a gambler… I’m as calculated and risk averse as they come, and sometimes, yes, it means I miss out on a couple of days worth of profit here and there, but I know that in the long run… both myself and my client base will be in this game until our days are up… because everyone I’ve taught, knows how to have longevity in this game, and it doesn’t begin with taking trades for 2 days and then taking profits too early…. or worst still… entering trades for 2 days and betting against price… we maximize profits… we take trades for a month and collect 20-30% wins, and some of our Options guys are taking home 10s of thousands of dollars a week.
Would you like to be part of the group AND be educated in our approach?
If you’d like to explore working together… it’s simple… we’ll get on a call for 20 minutes… we’ll see what you struggle with, and we’ll see what we can do to help… if we can’t help… we’ll point you in the direction of someone more appropriate.