Amid drifting volume, stocks have staged another V-shaped rally to fresh highs, namely on the S&P 500 and Nasdaq Composite indices. The laggards, such as the small caps, micro caps, and regional banks, all tried to play catch-up this week, too.
To be sure, the market action is far from a high energy environment, and rather seems to be one of hit-and-run trading. We also have some wildly-extended issues on all timeframes now, such as the large rail Union Pacific.
Meanwhile, stocks like AAPL TWTR show that they can trade in their own worlds, oblivious to the broad market.
Over the weekend, consider joining 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.
Please click here for details about joining. Please also note that members of our 12631 Trading Service receive the Strategy Session each weekend at no additional cost.
See you there.
Have a great weekend!
