Well, the feedback has been excellent from Saturday’s webinar on IPOs. For those who missed it, I plan on having downloads available soon. Anyone who does purchase a download will have access to the spreadsheet on the stocks picked and you will also have access to the next 4 live sessions.
“It was a great IPO Webinar yesterday. It’s amazing how you have unearthed those tradable patterns.”
“After your four sessions yesterday afternoon on IPOs, in the evening I went to your website and listened to your one hour and 45 minute introductory session. I am just writing to say that I think you did an excellent job on both. I am impressed not only with the material presented but also the tremendous amount of time and effort you must have spent preparing all those slides for those lectures. I hope there were enough attendees to the IPO seminars so that you are able to earn a good return on your time.”
“…nice job and very glad I was there….”
“Your presentation on trading IPO’s was outstanding.
I appreciate the work you put into it.”
Dr. Jerry L.
“Thanks for the webinar, good job!!”
“Great class you just taught. I really learned a lot.”
The Ps (S&P 500) didn’t set the world on fire but at least they appear to have stabilized. So far, the market look like it has the potential to rally out of a pullback.
The Quack (Nasdaq) had a decent day, gaining nearly ½%. This action keeps it above its March peak-so far, so good.
The Rusty (IWM) remains the rub. It ended slightly lower on the day. It remains below its March and July peaks. So far, it has the look of a double top. A few big up days would negate this though. This is why we take things one day at a time.
Although they remain in a longer-term uptrend, Energies have lost some steam as of late. Keep an eye out for a potential Bowtie down here.
Keep an eye on other previously strong areas that are also losing momentum like the Chemicals.
So far, a top appears to remain in Aerospace/Defense.
Back to the positive.
The Gold stocks came backed with a vengeance. So far, a major bottom appears to remain in place here.
Ditto for the Silver stocks.
So far, the Semis have only pulled back. They look poised to resume their strong uptrend.
It was good to see Drugs stabilize but I’d feel a lot better once they took out their March peak decisively.
For the most part, the market is hanging in there. Do keep an eye out on the aforementioned sectors that appear to be losing steam/topping.
So what do we do? I think the plan remains mostly the same. The recent sell off and loss of momentum in the indices/many sectors has created some choppy action in the charts. Again, I hope this isn’t the start of the summer doldrums. I’m not seeing many setups. As I preach, it is important to listen to the database. And right now it is suggesting that I should sit on my hands and let things shake out a bit. In the meantime, honor your stops on existing positions. The good news is with things stabilizing on Friday, we might soon be getting back to the business of making new highs. As I preach (ad nauseam), continue to take things one day at a time. If the market does start banging out new highs, as trend followers we should be blessed with new opportunities.
As Lincoln once said “The best thing about the future is that is comes at you one day at a time.”
Best of luck with your trading today!
Free Articles, Videos, Webinars, and more....