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So What Do We Do?
Well, the market will have to string together a few good days before I will get too excited. This is market where you have to be really careful not to chase your own tail. Just last week the market faked out and sold off but then came right back. I listen to my database when the market is a little sporadic shorter-term and sideways longer term (e.g. on a net net basis). And, right now it’s not saying much. Yes, Gold woke up last week so we could see setups there soon but right now, again, it’s not saying much. It usually pays to listen. Trust me, when the market is firing on all 8 cylinders, they’ll be a plethora of setups. Now’s the time not to invent trades. Be super selective. Wait for entries. Honor your stops once trigged. And, then take partial profits/trail your stop if blessed with a profit. In other words, follow your system.
Best of luck with your trading today!
Dave
*A friend named Karen’s hobby is to tell a morbid story right before the entrée is served.
**Peter Mauthe “Don’t invent trades.”
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