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Jeff Pierce
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I’m a swing trader of momentum stocks with a holding period of anywhere from a few hours to a few months. I run a number of screens to locate the strongest/weakest stocks out there, using technical analysis to determine my entries and exits. Trying to calculate the intrinsic value of stocks in... More
My company:
tradewithZEN
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zentrader.ca
  • Full Moon Rising 0 comments
    Jan 28, 2013 9:13 PM

    By Jeff Pierce

    In my research last night I forgot about the full moon tomorrow night and the potential implication for next week and a possible correction. Given that the last new moon was a reversion incident and it continued to push higher into resistance and subsequently past resistance, the likelihood of a pullback next week is on the table. I'm seeing the most weakness in the TSX from my proprietary indicators that suggest that will be the first of the major indexes I follow to correct. I also feel confident it will be contained, shallow, and a great opportunity to add to existing long trades.

    Blue circle - Full Moon

    Empty circle - New Moon

    djia

    When you look at the vertical move we've had on the DJIA (above), it's an easy call to say "we're due for a pullback" but that doesn't mean it's going to happen. A sideways correction is also a possibility. That's why it's important not to unload all your longs here.

    As I said in last nights video, it's a stock pickers market so follow your trading rules per individual names and if you are trading the indexes it probably wouldn't be a bad idea to trim some of those long trades and add on pullbacks.

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