The market put in an impressive rally Friday afternoon, trapping a lot of shorts. Here’s a tip; when I start talking about shorting stocks, you can be assured that the bottom is probably in. This market now looks bullish, at least for the short term.
I was holding QID into Friday, and saw all the gains vanish. I am not out.
A trade I had on my watchlist but didnt take was PCYC, which is acting very strong.
Swing trading had been difficult in this market. But with the volitility, day trades are looking good. I took a day trade on Friday afternoon in FAZ. See my trading lesson on how I day trade the 3 X ETF’s. I use this setup for nearly all ad hoc day trades.
I am looking at stocks that have held up well, in hopes that they willc continue moving on market strength. I am not looking to hold these very long. This will be a short trading week for me; I will be taking a vacation late in the week.
Good luck and good trading!
RSS feed for comments on this post · TrackBack URI
Leave a reply