Evening folks! UP week for the markets with the nasdaq and rusell2k leading the way. We got the oversold bounce off the 50dma that we were looking for. It wasnt easy as we did break below briefly and then start the bounce. This week will be key to determining whether we are just experiencing and oversold bounce or if there is something more meaningful behind it.
Its been a tricky couple weeks of trading. I have been doing a lot of sitting back and biding time till I see the right opportunities. Its def been a grind with failed patterns galore. YOu have to really be very very exact on your entries. If you chase a stock even 10 cents higher then it should be bought then your risk on the trade sometimes can be 100% more then if it was lower. Thats what happens when the market is NOT on a big bull run.. those easy plays where you can just throw money at a bunch of junk and profit is over and you have to a very precise trader and pick and choose your moments of when you put capital at risk.
September 9th we do have a Bootcamp starting. Email me for details email@example.com . WE have some new additons to this BC including market replay functionality in our simulator along with some other goodies!
[screencast url=”http://screencast.com/t/M9qQpAWg” width=”” height=””]