Thanks Dave for your comments/questions about the yellow alert. I WAS pondering the yellow alert all day yesterday and wondering if Dave is trying to tell me something? I will stay on alert for either direction although I am all bullish at this time. Thanks for keeping me on my toes.
Thank you for your insights. As always they are powerful. I have been following your teachings on Investools for the last few months (saw you in Colorado too) and I think this stuff is finally starting to sink in. I did well on the recent rally and was out when we were peaking. I got the message that we hadn't broken the next support level last night. This is my next area for learning. I'm not sure when to get back in. Now the SPX has drawn down below 1100. I'm feeling hesitant to jump in yet on the downside though. Do you have guidance?
The recent trend is up and if you don't have rules to trade the counter trend it is best not to "jump in...on the downside" until you do. My guidance would wait for a support bounce, which could occur as soon as tomorrow, and then follow your rules just like you did on the last short term move up.
What does reviewing the futures before market open prepare you for? Is it just for gaps up or down? How does this help the active trader?
ReplyDeleteThanks Dave for your comments/questions about the yellow alert. I WAS pondering the yellow alert all day yesterday and wondering if Dave is trying to tell me something? I will stay on alert for either direction although I am all bullish at this time. Thanks for keeping me on my toes.
ReplyDeleteJudy
Judy
Thank you for your insights. As always they are powerful. I have been following your teachings on Investools for the last few months (saw you in Colorado too) and I think this stuff is finally starting to sink in. I did well on the recent rally and was out when we were peaking. I got the message that we hadn't broken the next support level last night. This is my next area for learning. I'm not sure when to get back in. Now the SPX has drawn down below 1100. I'm feeling hesitant to jump in yet on the downside though. Do you have guidance?
ReplyDeleteAnon,
ReplyDeleteIt prepares me for the open...It will depend on the specific trading techniques of the Active Trader if it helps or not.
Cheers,
Dave
Judy,
ReplyDeleteYou're welcome. You are bullish at this time, does that mean the stocks you are trading are in up trends or does it mean something else?
Cheers,
Dave
Anon,
ReplyDeleteThe recent trend is up and if you don't have rules to trade the counter trend it is best not to "jump in...on the downside" until you do. My guidance would wait for a support bounce, which could occur as soon as tomorrow, and then follow your rules just like you did on the last short term move up.
Cheers,
Dave