Quick update on the markets, hope everybody had a fantastic holiday season and ready to take on 2014.
All three of my timing signals remain upwardly biased, but they are weakening so beware entering new positions right now without an exit strategy.
I've been in cash since late December as there aren't that many good reward/risk opportunities out there. Biotechs seem to be offering the best chart patterns but those aren't the sort of stocks that lead a market higher. Often times these stocks can go up in defensive market enviornments. Smaller priced issues have been coming up on my scans and one should only devote a small portion of your portfolio to stocks such as these.
Here is a quick glance at my color guard. The 3 squares represent long term, mid term, and short term and it takes all three signals to flip for the signal to be bearish or bullish.
As you can see, upward, but weakening, with the Dow being the strongest market and not even flinching.
On top of knowing the market trend it's important to have the right trade ideas. Since June 2013, in an effort to provide maximum transparency within my trade suggestion service, tradewithZEN, I've live tweeted all my personal trades.
- 49 winners with the avg gain being 6.18%
- 12 losers with the avg loss being 3.51%
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To your trading prosperity,