Evening folks. Wild week in the markets. After everything was said and done the market ended up slightly positive for the week. The big gap days on Wednesday and Friday made things a bit tricky especially if you were positioned in the opposite way of the gap! Overall the action was pretty constructive and very typical when the market is in a consolidation range albeit a volatile range. We had an epic October once for the books to have the market swing back and forth for a period of time is not unhealthy. The key is to focus on the price action. With so many rumors/news stories out there that we are getting bombarded on a constant basis its very easy to form bias’s that can negatively impact your trading decisions. Its not easy to do as everyone and their uncle is talking now about euro bonds and sovereign defaults. The news is front and center and dominating the headlines and moving the markets but you cant time news but you can time many of these intraday patterns and daily patterns that are emerging. If you can do that I think the next 6 weeks or so we have in the year will be very profitable.
p.s. for some reason my screencast embed code is double posting videos im not sure how to get rid of it. so if you see the same video 2x just move to the next one!
Still time to enter our stock challenge. Send us five long picks before opening bell tomorrow. Details: Bulls Swing Trade Challenge