One Bullish Perspective On The Markets

Apr. 24, 2012 3:44 PM ETAAPL, SPY, QQQ, DIA
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Momentum

Contributor Since 2008

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 Trying to calculate the intrinsic value of stocks in my opinion is out of date and there is wisdom in crowds.I've developed a market timing system that determines when it's best to be long, short or on the sidelines, using a number of proprietary indicators based on many time frames. I believe that to have longevity in this field one must find ways to calm the mind and trade from a detached point of view. Emotionless trading will allow you to respond to what's going on right now in the markets, rather than reacting to daily fluctuations.View my personal blog http://zentrader.ca/

The following is an excerpt form the mid day update by All About Trends. Premium members receive daily market commentary, stock picks, and a concise trading plan. I personally recommend their service for their insightful content and amazing value. Try it here at a significant discount.

Given that I'm bearish on the markets it's important to always consider the opposite trade. Right now All About Trends are mildly bullish and have been buying the dips in a conservative way. Below are charts detailing the bottom that could be forming.

A good exercise to perform when taking a trade or when thinking about taking a trade is to ask the question "what if this goes against me?"

 

  • Do you have an exit plan?
  • Do you have a stop?
  • Do you have a what/if statement ready so you aren't frozen and become trapped in a trade?

Mid Day Report

Speaking of where supports are? You MAY be looking at one in the making with the SPX. At least in the short term initially we've tagged it and are moving away from it. But again it doesn't matter as AAPL is going to call the ball.

Index Charts:

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