It was another bull victory this week, with the S&P 500 and Dow Jones industrial Average printing fresh all-time highs, while the Nasdaq Composite Index made thirteen-year highs in its own right. Some signs of parabolic, blow-off moves in DDD ONVO presented themselves, but other non-extended stocks came to surface as well. Despite some former leaders now lagging, bulls are hanging their hats on rotation.
I am still focused on hit-and-run style trading, rather than swinging heavily in this environment. OPEN was a quick short squeeze winner I had this week, while I covered my LOW short for a small loss. Above all else, I am inclined to stay patient with as many moving parts as this market has.
Indeed, we strive to do just that, stay disciplined, inside our 12631 Trading Service, which @RaginCajun and I direct. I can assure you that a membership to 12631 is well worth its price over the long run.
The way we see it, the big winners will eventually take care of itself–What we care about most is mitigating downside and not being stubborn with losers, and not taking on unnecessary risks. In addition, we strive to preserve a top shelf, quality atmosphere for traders of all backgrounds. We fuse together actionable idea flow with a constant emphasis on proper risk management techniques in our streaming, Twitter-like, state of the art chat room.
Also, be sure to catch my next Weekly Strategy Session.
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Have a great weekend!
Chess, hope you have a good weekend as well. You’ve been bustin’ it super hard. Rest up & have some fun!
Thanks, Unc. You too!
Have a good one..
Likewise, kg.