One of the main goal in markets needs to be staying on the right side of the trend, for it sets the technical conditions used in the trade setups. And trade setups have got to be implemented under the correct technical conditions, or the probabilities then break down. It is a huge mistake people make, having universal trade setups, and not taking into factor the 2 crucial aspects – what are the technical conditions and what is the time-frame you are looking at for the trade itself. Becoming competent with those 2 things will make it much “simpler” for you. This business of trading is tough enough, do not make it even tougher.
Are you studying this stuff?
In the call we discussed developing a solid method, believing in that method, and ignoring everyone else’s “views”. And if you believe in the uptrend, then you wait and wait for your opportunity. Bad news is always an opportunity then, especially when a spring sets up. So with that, I discussed the secular uptrend in INTC (long) for months, well before the spring setup in early February when I bought my original position.
All I can do is provide opportunities.
From the Jan 3rd premarket comments section:
|INTC is in a secular uptrend. Bad news is an opportunity to get long. And yes discussed AMD a couple months ago as a potential setup.|
So anyone who has been studying and read my comments about INTC had an outstanding opportunity to buy when the crowd was bearish. It’s up 25%, and has gone to new 18 year highs.
IMMU (long) has been discussed more than any stock, 15 year accum, plenty of opportunity for any of you to get long. The earnings bad news was an opportunity for me back in December. It’s up 90% since.
INSM (long) was on the 4/2 list, outstanding opportunity to buy into the bad news in April. I have discussed the huge accum area in INSM multiple times, so another opportunity for any of you to buy into the bad news. It’s up over 30%.
Buying into bad news is a skill which must be learned. It is never easy. The only way to make it easier is to work hard, believe in your trend work, and be prepared for opportunities.
Also discussed in the call was shorting on the backside, not into new highs. This dxy chart was posted last week.
Recognizing the backside of a move is never easy, but a great approach. DXY closing back into support.
Also discussed on the call was learning how to use the “last high before the low” to sell a long or to short into. BTC a beautiful example of that with the rally back into that exact situation yesterday.
And you can see the result, and how to approach it.